A BRITISH company is offering Irish investors a little piece of English "countryside" with the promise of long-term profits — but the local council says the deal is pie in the sky.

Oakwood & Scott, a landbanking company, is selling plots of farmland at Tadley in Hampshire with a promise that they will be rezoned for development within 10 years.

This weekend it is exhibiting the sites at the Toys 4 Big Boys show in Dublin's RDS, where buyers are being encouraged to invest between €9,610 and €29,570.

Landbanking is a controversial process by which a company convinces customers to buy small plots of agricultural land with the promise they will make huge returns on their investment when it is rezoned. But Basingstoke and Deane borough council, the local authority for Tadley, say it is "highly unlikely" any developments proposed for the farmland will be allowed.

(Via The Sunday Times. To read the full story, click here)


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