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So you thought land banking was dead?

Covering Market, Trends, and Practical (but see LEMON-AID for Building & DIY)
Alaric
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Re: So you thought land banking was dead?

#178203

Postby Alaric » November 5th, 2018, 12:14 pm

SalvorHardin wrote: Instead I would be buying as much as I could realistically afford whilst keeping very quiet about it.


I think it likely that those profiting from rezoning of agricultural land keep a very low profile. It's something that local authorities could do and I suspect may have done in the past, namely to buy up such land and then give themselves permission to develop it.

For a totally speculative investment buying a piece of land large enough for development and sitting on it for years or decades might even make sense. The way the scam works is that someone had bought the land at a wholesale price. Rather than patiently wait for it to become more valuable they then up the price to finance salesman trying to con potential investors.

UK regulators may have prevented or strongly discouraged such schemes being marketed to UK based investors. Foreigners beware!

dionaeamuscipula
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Re: So you thought land banking was dead?

#178230

Postby dionaeamuscipula » November 5th, 2018, 1:42 pm

MMAS wrote:Thanks for your post, Can you share from where you have the information that this land is in the flood area?? any references or documentation you have seen


Your cousin should look at this:

http://www.wraysburyactiongroup.com/

Thamesfield is the name of the land your cousin is considering buying a plot in.

Also the pdf linked to on this page:

http://www.hwnp.co.uk/latest-draft/

Which shows the flood plain, the green belt, and discusses the development issues in the area. You will see from photos on the Action Group website that the land in question is susceptible to flooding, and is not therefore what is described as a "Dry Island".

Extract: "This Neighbourhood Plan reflects both national advice and local plan policy by including general presumption against all new buildings in areas liable to flood unless it is infrastructure or facilities that have to be located by the river such as boatyards. This is to ensure that no additional people
are placed at risk when flooding reoccurs nor should the placing of new buildings in the floodplain take up flood storage capacity which could lead to the flooding of areas not currently liable to flood. New development in the plan area can be allowed in terms of flood plain policy if it can be
demonstrated that the levels of the site are above the level of water in the 1 in 100-year flood event- these are known as Dry Islands."

DM

MMAS
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Re: So you thought land banking was dead?

#178248

Postby MMAS » November 5th, 2018, 2:31 pm

What they say respond when you say why you are selling is that we need this money to fund our other projects and house building etc...,

We will not proceed as this is an extremely high risk, thank you, that was useful in taking our decision.

Hariseldon58
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Re: So you thought land banking was dead?

#178276

Postby Hariseldon58 » November 5th, 2018, 4:01 pm

Interesting thread I used to work in Wraysbury in the 80’s and the nature of my job allowed to go pretty much anywhere in the area.

The houses that are there, are on strips either side of the road in general, dating back to less regulated days, and I’d be surprised that any development takes place. There are huge problems with drainage in the area, septic tanks are the norm and development potential was very limited then and I doubt that has changed.

I recollect a housing development nearby, between Datchet and Horton turned out to be a nightmare, they had to build the houses up on “rafts” it was all rather odd, with houses perched up on raised platforms !

Lot of the open land there is quite Marsh like, flood plain is a serious issue.

vrdiver
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Re: So you thought land banking was dead?

#178766

Postby vrdiver » November 7th, 2018, 12:51 pm

Wraysbury: it's even got its own SCUBA diving centre!

http://www.wraysbury.ws/


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