Land Ownership

TurnaroundSue

Has anybody heard of/been involved in land ownership. I have information from a company who have land for purchase. A typical parcel of land costs in the region of £12k and once it has been re-zoned and planning permission has been agreed, the profit is somewhere in the region of £58k. Apparently the government want to build around 1.1 million homes in the south east in the next 8 years in line with the olympics and this company is able to selll you land and turn it into huge profits.

I am interested, but have yet to read all the bumpf, but was wondering whether anybody has and tips/advice on this type of thing.

Many thanks in advance for any help/advice you are able to give.

owner

I'll give you the benefit of the doubt and assume you are not fishing, this is nothing short of a scam., pp will NEVER be granted on this land, if there was a chance it wouldn't be sold off to Joe Public would it ?

JoeK_3

Take great care as I seem to remember reading something in the Financial Mail regarding a similar thing.

Get it checked out first before you part with your money.

JoeK

essexgal

TurnaroundSue wrote: »

this company is able to sell you land and turn it into huge profits.

Sounds remarkably generous of them - I would have thought they would have kept it and made the profit themselves.............

"once it has been re-zoned and planning permission has been agreed"
- chances are it won't be - probably only able to use for agricultural purposes/green space.

Sounds too good to be true to me.

essexgal

Running_Horse

There was a programme about this recently on local TV. It was interesting to see all these investors moaning about being conned into buying useless plots of land that will never be built on. If they had been given green belt planning permission, would they have had any sympathy for neighbouring villagers whose house prices would have been affected? Pure greed. Apparently none of these schemes have ever been granted planning permission.

TurnaroundSue

essexgal wrote: »

Sounds remarkably generous of them - I would have thought they would have kept it and made the profit themselves.............

"once it has been re-zoned and planning permission has been agreed"

Sounds too good to be true to me.

essexgal

I did actually ask them this very question about keeping all for themselves and to be honest with you he baffled me with his reply - so really none the wiser.

I know it sounds to good to be true, and you know what they say..... it usually is!!!

Many thanks for your replies, I think I knew the answer myself but thought I would just ask first ......I didn't want it to be the fish that go away :eek:

Debt_Free_Chick

TurnaroundSue wrote: »

Has anybody heard of/been involved in land ownership. I have information from a company who have land for purchase. A typical parcel of land costs in the region of £12k and once it has been re-zoned and planning permission

What they should be saying is "If, if, if .... it ever gets planning permission[/quote]

Apparently the government want to build around 1.1 million homes in the south east in the next 8 years in line with the olympics and this company is able to selll you land and turn it into huge profits.

And every local authority has a "Local Development Framework (LDF)" clearly stating where new homes will be built. If the land you buy is not in the LDF as somewhere that will be granted planning permission, then it won't get planning permission (save in very special circumstances).


So ... look at the land they're offering and then look at the local authority's LDF. Is your parcel of land in there as somewhere that is "approved" for new development? If so, read the relevant sections of the LDF very carefully. If not, walk away.

HTH

keeperbear

A 12k investment that will generate a 58k "profit", do you really believe in such rubbish?

epz_2

keeperbear wrote: »

A 12k investment that will generate a 58k "profit", do you really believe in such rubbish?

i am sure william hill have such vehicals and they are nice enough to even let you know what they think the chances are, i bet even a longshot is a better "investment".

Forreal

A guy bought a field near us recently - £48k for 5 acres - he is now selling off 15 segments for £15k each. he says that they are an investment for the future i.e. building plots, he mentions local developments.

Truth is the land is agricultural with a covenant reinforcing this and the building nearby were a couple of barn conversions that took the owners five and six years, respectively, to get approved. The access to the land is owned by someone else and again has restrictions on it and the owner would have to be in agreement for this access to be upgraded through planning permission to domestic use.

I feel sorry for those people who are going to be duped into parting with hard earned money for useless land they could only graze a pony on - a small pony at that!!

must-resist-ebay

As already said these are nothing but a scam, most have restrictive covenants put on the deeds banning you from access to 'your' land until planning permission is granted, you have to allow agricultural industry on 'your' land and have to pay an annual fee of a hundred pounds or so towards the common areas of the 'development'