Land Banks

[dga]

Does anyone have experience of buying a share in land with potential for building development if planning permission is obtained. The is a company called English Land Partnership which is offering freehold plots within various 10-20 acre sites. They manage the whole operation and hopefully when the site is sold with planning permission the plots show good gains.
Sounds good but difficult to evaluate. I'd be interested to know more about this organisation.
:?:

 

[JonnyT]

They are allegedly scams. They buy fields that are unlikely to ever be given planning permission.

I think I saw an article in the Times about this.

JonnyT

 

[Tileman]

LAND BANKS OR LAND BLANKS.
Would they be selling to you cheap if they thought they were going to get planning in the near future?
Ask them how many Successes they have had in the past.

 

[dga]

Thank you Jonny T and Tileman - confirms my doubts. When I asked English Land Partnership for some specific information they went quiet. Seasonal greetings

 

[zambuck]

These are plots of 'Land' in Green belts normally and these have Planning restriction on Development....If they didn't, then these would sell like gold....

The premise is that you 'buy' a plot of land along with 'others' - the landowner gets a lot more money then he would otherwise....the punters who buy hoping that they will get planning permission eventually to Develop so they make a bob or two...

And they may get permission to develop, BUT the ctach generally is that there are NO UTLITIES whatsoever on these pots. So to get a water, gas, electricity, cable, tel, and drainage from the nearset point will cost a fortune. And this has to be shared by all owners....and cost to get these is huge....

A small substation for electricity will cost in the region of approc £125000/-

Some may be succesful in these scams, but majority will have nothing worthwhile....

I know someone who bought whole cricket field size land complete with club building in green belt for approx £200,000/- five years ago...!!..and that was a very good buy...but it is rare...

 

[Johnkarner]

March, the bank is a bank that issues long-term loans in exchange for mortgages. This term could also apply to:

The Land Bank of Taiwan, a wholly state bank in the Republic of China (Taiwan).

The Land Bank of the Philippines, owned by a bank in the Philippines by the Philippine government with a focus on the needs of farmers and fishermen.
Land banking, buying and holding (rather than developing) land for future development or use.