A plot of land in Finchampstead that was part of an international land banking investment scam more than 15 years ago is currently for sale.
Buyers around the world lost a total of £69 million from a company called UKLI (UK Land Investments) by buying small plots of land across the country that, according to the company, stood a “very good chance” of getting planning permission, and therefore increasing the land value.
Many parted with more than £20,000 for the essentially worthless plots of land because, in fact, there was no chance of the greenfield sites getting permission.
The company was eventually shut down by the Financial Services Authority in 2008, with the company director banned from holding a similar office for four years.
Investors from as far afield as Dubai, India and southeast Asia, lost money by investing in land in Finchampstead.
The Finchampstead Society helped draw attention to the scheme, resulting in local and national media coverage.
One of the plots of land that originally formed part of the scam is currently being marketed for sale by a Reading-based real estate firm.
The plot is currently being listed for £40,000, and is described as; “.. a great opportunity to purchase this freehold land at Church Farm, Finchampstead.”
The plot is located in the field close to the surgery, off Finchampstead Road.
Similar plots in the same field have sold in recent years, with one achieving a little over £1,000 at an online property auction five years ago.
