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Land as an Investment

ChrisGilbs
ChrisGilbs Posts: 3 Newbie
edited 26 October 2010 at 5:44PM in Praise, vent & warnings
Hi, I have been approached by Plott UK Ltd to buy a plot of land as a sure investment. They are asking for £12,000? Does anyone have any thoughts information regarding this kind of investment? Other info on the site is years old. I wondered if things have changed - I know the law has been modified but I know nothing about this kind of investment. I don't have lots of money and this would be a huge amount for me!

Any help or information would be gratefully received.:eek:
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Comments

  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    Run a mile - they are trying to sell you agricultural land that they claim will go up significantly in value 'once planning permission is gained'. However, there is no hope of ever getting planning permission granted.
    "You were only supposed to blow the bl**dy doors off!!"
  • From their website, this seems to be a land acquisition company offering land for sale. This is an investment, so I suggest you get professional advice, rather than the derision of the Boiler room enthusiast organisation.

    One thing is, you may have to pay for this advice.

    Still, you could always throw a party at the Dog and Duck and see your money go up in smoke!
  • geo555
    geo555 Posts: 787 Forumite
    A quick search on Companies House website shows this.

    Plott.jpg
    (".)
  • vuvuzela
    vuvuzela Posts: 3,648 Forumite
    ChrisGilbs wrote: »
    Hi, I have been approached by Plott UK Ltd to buy a plot of land as a sure investment. They are asking for £12,000? Does anyone have any thoughts information regarding this kind of investment? Other info on the site is years old. I wondered if things have changed - I know the law has been modified but I know nothing about this kind of investment. I don't have lots of money and this would be a huge amount for me!

    Any help or information would be gratefully received.:eek:

    If it was a good investment, don't you think they would buy it themselves ? This should just SCREAM scam to anyone.
  • fluffnutter
    fluffnutter Posts: 23,179 Forumite
    Chris, you say you 'don't have lots of money' but you're still considering investing 12 grand in something. Something that a quick google will tell you is a right dodgy old practice. Fair play to you for investigating further before committing any of your money.. but someone who doesn't have 'lots of money' might be better off with an ISA. Leave 'investing' to people who either a) know what they're doing or b) have so much money it doesn't matter!
    "Growth for growth's sake is the ideology of the cancer cell" - Edward Abbey.
  • Many thanks to those of you who answered my call for help and information. Greed is a terrible thing - I was almost seduced by the promise of high returns with no risk!!! Of course you are all right and I am very grateful.
  • Well done for asking re this!
    A quick search re land sales on the Internet will set alarms ringing.
    I was contacted (don't know how etc) by this company four months ago. Since then I havn't been able to get rid of them. They are clever, manipulative and very convincing. I have received mail to my address with deadlines to pay 12k within 7 days as I am contractually tied in apparently!! As I work in the legal profession, I have issued a written warning to the company re future contact. Unfortunately this has continued and the police will now be getting involved, followed by an email to watchdog!
    Stay well clear please!!!
    Plott uk is a scam by clever people, praying on the vulnerability and good will of people who want to invest money to secure their future in what are difficult times.
    Remember; if it sounds too good then it probably is. Take out an ISA etc instead.
    Hope this helps, and when they ring you back, be assertive and when they try to change your mind, don't be afraid to hang up!!
  • trisontana
    trisontana Posts: 9,472 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    This gives you all the information you need:- Property Scam
    What part of "A whop bop-a-lu a whop bam boo" don't you understand?
  • trumpton
    trumpton Posts: 1,070 Forumite
    As other posters have, these are well-known scams, where 'development' land is sold with a view to getting PP later. In reality, it is farming or greenbelt where PP is very unlikely to be given. Maybe if you can wait 200 years there may be a small chance.

    Last year the DTI shut 5 companies who were deceiving investors into buying cheap farm land with the promise of huge rises in value:

    http://www.creditman.biz/uk/members/news-view.asp?newsviewID=11007&id=1&mylocation=News&chksrc=NNow4251
  • trisontana
    trisontana Posts: 9,472 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Another one bites the dust:- Britannia Land landbanking scam shut down
    What part of "A whop bop-a-lu a whop bam boo" don't you understand?
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