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 Travellers inflate land price

 

Tuesday, May 03, 2005


Householders in Billericay, Essex have paid nearly four times the going rate for a nearby wood in order to prevent travellers setting up an illegal camp on it.

About 100 residents paid £75,000 for a four-acre plot expected to cost £20,000 when the owner put it up for auction recently.

The residents were concerned that travellers, due to be evicted from another site a few miles away on May 13th, might move in to the nearby woods.

The residents set up a company and bought shares at £500 each to fund the land purchase. The company, called Linksland, is now the owner of the site. Some residents bought as many as 10 shares in the company.

Having kept the land safe for the future, the resident now plan to use the land for community projects.

"We were very worried about what was going to happen and this has given us peace of mind," said one multiple shareowner, retired publisher Francis McCafferty.

 
 
     
     
 

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