New Home Owners And Snagging Forum

Home Owners => Buying and Selling => Topic started by: Philofacts on June 06, 2011, 12:19:46 pm

Title: Land plots firms wound up
Post by: Philofacts on June 06, 2011, 12:19:46 pm

The insolvency service has won High Court Orders to wind up six connected land banking companies.
These sell overpriced plots of land to the public as investments, despite there being virtually no chance of ever gaining planning permission for building.

Title: Re: Land plots firms wound up
Post by: The Brickkicker on June 07, 2011, 01:23:04 pm

This has been one of the biggest cons in recent years

Breaking up vast areas of often worthless land into small packets with the wild promise of planning permissions to come in the future

These packets go for £10-20k ...so to some it seems like a low risk investment ....with land prices low at the moment you could buy a few acres for that price ...instead of a strip

Dont get involved with these things ...there are better ways to blow your money.

Title: Re: Land plots firms wound up
Post by: Philofacts on June 07, 2011, 02:37:52 pm

These can be very popular with "travellers".

Most are builder's sized plots with boundaries marked with string and raod pins.

As Brickkicker says steer clear.

Title: Re: Land plots firms wound up
Post by: The Prophet on June 11, 2011, 11:23:22 am

There are much better investments out there.

Why not buy a whole field near existing development and sit on it for ten years.