Four companies involved in selling plots of agricultural land to the public have been wound up by the High Court following an investigation by Companies Investigation Branch (CIB) of the Insolvency Service.

Agricultural land was acquired at sites at Lyneham and Melksham, Wiltshire and Chicksands, Bedfordshire. The land was divided up by grids at Melksham and Chicksands and sold in similar size plots, whereas at Lyneham the plots were irregularly shaped. Altogether, some 470 individuals invested in the scheme, in plots of land being sold for an estimated £10,000 each.

CIB's investigation revealed serious concerns on the manner of the companies operations. These included the marketing of the land as a viable alternative to traditional forms of investment; the holding out of Land Investment Association (LIA), a company incorporated and run by individuals involved in United Land Holdings (ULH), as the land investment's independent watchdog; the editing of the West Wiltshire District Plan in ULH's material, so as to create a misleading impression of the opportunities for expansion in the Melksham area and the marketing and sale of land prior to the acquisition of the freehold.

(Via Government News Network. To read the full story, click here)

Three companies involved in selling plots of agricultural land to the public have been wound up in the High Court, following an investigation by the Companies Investigation Branch (CIB) of the Insolvency Service.

Townfield Land Investments Limited acquired agricultural land near Southwold in Suffolk under an option agreement with a local farmer. It was then marketed to the public by Libertas Land Limited, by sub-dividing the land into plots of 2,000 square feet at a price of around £9,000 per plot.

(Via Government News Network. To read the full story, click here)