Braintree District Council is advising people to exercise caution before buying land through internet "landbanking" schemes. These schemes offer plots of land for sale with promises of huge profits for buyers when the land gets planning permission for development, but there is no realistic prospect of permission being granted for development in the foreseeable future.

A BBC "Inside Out" investigation found that the websites often provide inaccurate and misleading information about the local area and the likelihood of the land being developed, investors are convinced into paying over the odds for sites that have little or no development potential, paying very high prices for land of little value.

Land at Oxford Lane, Sible Hedingham

The Council has become aware of a landbanking scheme currently being promoted in respect of land at Oxford Lane, Sible Hedingham. The land appears to have sold divided into small plots. The site is beyond the development boundary in the adopted Review Local Plan, and there is no realistic prospect of permission being granted for development of this site in the foreseeable future. The Council has set out below some of the claims made on the website, together with the Council’s response for clarification. The Council advises potential investors hoping for profits from development potential to check with the Planning Policy section for advice on the planning prospects of a site before deciding whether to invest in a particular scheme.

For further details click on the link below:

- Warning re Internet Land Sale Schemes