Croydon development plots, £65/m2

[jimothy]

My father in law out in Zambia has been offered some plots of land to buy as part of a housing development in Croydon. They are going for £65/m2.

Does anyone know anything about buying such land, is this a too good to be true price?

Does anyone specialise in property investments in this country for overseas clients who could advise on this, help find other investments?

Thanks in advance.

[Mattygooner]

jimothy said:

My father in law out in Zambia has been offered some plots of land to buy as part of a housing development in Croydon. They are going for £65/m2.

Does anyone know anything about buying such land, is this a too good to be true price?

Does anyone specialise in property investments in this country for overseas clients who could advise on this, help find other investments?

Thanks in advance.

Was it by email? and was it a English email trying very hard to sound Zambian?

Were monies involved?

[Blib]

Housing development?

In Croydon?



You trying to tell me that people actually want to live in Croydon???


Can't be true.

[jimothy]

Mattygooner said:

jimothy said:

My father in law out in Zambia has been offered some plots of land to buy as part of a housing development in Croydon. They are going for £65/m2.

Does anyone know anything about buying such land, is this a too good to be true price?

Does anyone specialise in property investments in this country for overseas clients who could advise on this, help find other investments?

Thanks in advance.

Was it by email? and was it a English email trying very hard to sound Zambian?

Were monies involved?

Nope, it was from someone who works with the mine he works for. Not a nigerian scam type thing. He's been thinking about investing in property over here despite being told nows not the best time...

[illmonkey]

Blib said:

Housing development?

In Croydon?



You trying to tell me that people actually want to live in Croydon???


Can't be true.

I actually thing living in Croydon would be really goo.... I cant do it! I can't finish, im laughing too hard

[deckster]

Tread very, very carefully. There is a reasonably well-known scam going round that whilst not technically illegal is very dodgy and exceedingly unlikely to ever see a return.

It happened near me - unsolicited mailshot offering a plot on a nearby piece of land that was (allegedly) ripe for development and could be worth a fortune. Said plots of land were going for prices in the 10s of thousands, and once built on would apparently be worth 10x this or more. The catch, of course, is that the land was designated agricultural and therefore was incredibly unlikely to ever have planning granted.

Now this might not be the case here but he needs to be absolutely certain what he's getting into before parting with any money!

[richyb]

Investment, Croydon? The only time those words appear together in a sentence are - "I'm going to invest in a gun before I go to Croydon".

[Dracoro]

illmonkey said:

Blib said:

Housing development?

In Croydon?



You trying to tell me that people actually want to live in Croydon???


Can't be true.

I actually thing living in Croydon would be really goo.... I cant do it! I can't finish, im laughing too hard

Anywhere south of Croydon is nice, surburbia etc. well off people and so one.

Anywhere west or north of Croydon is a craphole!

The town centre itself divides the two quite nicely.

[monthefish]

jimothy said:

My father in law out in Zambia has been offered some plots of land to buy as part of a housing development in Croydon. They are going for £65/m2.

Does anyone know anything about buying such land, is this a too good to be true price?

Althought I don't know the area, £65/m2 equates to around £260k/acre, which is very cheap for all but the most undesireable areas I would have thought.

Decent residential development land in a reasonable location should be around the £1m/acre mark. (A decent 1/4 acre plot would be around £250k).

[Mattygooner]

Croydon is actually the first company to enter in to a URV with a major developer, Laing. The Urban Regeneration Vehicle is working with a £450million fund and is a very big step towards regenerating Croydon.

It is quite a pioneering system, Planning will be obtained easier for the developer in question and red tape will be cut. I think Havering are now doing something similar.

[XJSJohn]

may be somethinbg sinilar to these monkeys

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

[ShadownINja]

mickken said:

richyb said:

Investment, Croydon? The only time those words appear together in a sentence are - "I'm going to invest in a gun before I go to Croydon".

Incorrect.

Croydon & life insurance

Flak jacket... Croydon?

Edited by ShadownINja on Monday 16th March 14:58

[g_attrill]

deckster said:

Tread very, very carefully. There is a reasonably well-known scam going round that whilst not technically illegal is very dodgy and exceedingly unlikely to ever see a return.

It happened near me - unsolicited mailshot offering a plot on a nearby piece of land that was (allegedly) ripe for development and could be worth a fortune. Said plots of land were going for prices in the 10s of thousands, and once built on would apparently be worth 10x this or more. The catch, of course, is that the land was designated agricultural and therefore was incredibly unlikely to ever have planning granted.

Now this might not be the case here but he needs to be absolutely certain what he's getting into before parting with any money!

It has happened in lots of places, there are a couple of companies which specialise in it. I don't think it's an outright scam as much as a honeypot for stupid people either looking to get in on the property boom, or a get cheap house in the countryside.

A company bought a large piece of land in a village near my parents. The land is farmland and a *long* way from any other major developments, so is unlikely to be approved for major building for many decades. Anybody visting the site should realise that it is not a likely place that would be approved for building, especially when all of the major developments locally are going outwards from existing towns or (in the case of Knowle) redeveloping existing properties and building out from those. I read the sales literature and it talked about future developments and lobbying, but didn't actually promise anything. I assumed that people calling to make enquires were sifted and the likely ones given the hard sell.

Edited by g_attrill on Monday 16th March 15:31

[jimothy]

Mattygooner said:

Croydon is actually the first company to enter in to a URV with a major developer, Laing. The Urban Regeneration Vehicle is working with a £450million fund and is a very big step towards regenerating Croydon.

It is quite a pioneering system, Planning will be obtained easier for the developer in question and red tape will be cut. I think Havering are now doing something similar.

Based on the pictures he's sent me, it looks like its right next to a school in Sanderstead, maybe old playing fields.

[croyde]

Dracoro said:

illmonkey said:

Blib said:

Housing development?

In Croydon?



You trying to tell me that people actually want to live in Croydon???


Can't be true.

I actually thing living in Croydon would be really goo.... I cant do it! I can't finish, im laughing too hard

Anywhere south of Croydon is nice, surburbia etc. well off people and so one.

Anywhere west or north of Croydon is a craphole!

The town centre itself divides the two quite nicely.

As someone that finally escaped that area, I'll second the above.

[Leadfoot]

jimothy said:

Based on the pictures he's sent me, it looks like its right next to a school in Sanderstead, maybe old playing fields.

Sanderstead has some very restrictive (Royal IIRC) covenents regarding what can be built.

I can't think of any land available for development - other than some fields that were bought up by "property spy" a few years ago, staked out into lots & put up for sale. Suffice to say it all came to nothing as it's geenbelt/common land as per usual with these companies.

[NoelWatson]

Leadfoot said:

jimothy said:

Based on the pictures he's sent me, it looks like its right next to a school in Sanderstead, maybe old playing fields.

Sanderstead has some very restrictive (Royal IIRC) covenents regarding what can be built.

I can't think of any land available for development - other than some fields that were bought up by "property spy" a few years ago, staked out into lots & put up for sale. Suffice to say it all came to nothing as it's geenbelt/common land as per usual with these companies.

http://www.land-for-sale-uk.com/land-for-sale-croydon.asp

Similar to this?

[youngsyr]

If anything Croydon has seen over-development in the recent years - there are several very big developments currently being put up, despite the ones from last year still having unsold flats.

Sounds like a con in any case. Aren't these type of investments regulated by the FSA? I thought there were reasonable rules to be followed if punting out risky investments to non-sophisticated/self-certified investors?

[silver.fox.2008]

There's only one solution for Croydon.

"I love the smell of Napalm in the morning"

[Dracoro]

Leadfoot said:

jimothy said:

Based on the pictures he's sent me, it looks like its right next to a school in Sanderstead, maybe old playing fields.

Sanderstead has some very restrictive (Royal IIRC) covenents regarding what can be built.

Indeed, did you all know that there is NOT allowed to be any pubs in the area!!