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SarahBell

Uk Coal Still Selling Land

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http://www.yorkshirepost.co.uk/business/business-news/uk_coal_sells_another_chunk_of_land_to_help_cut_its_debt_mountain_1_3521936

UK Coal has sold another 1,760 acres of farm land for £12.6m as it continues to whittle away at its debt mountain.

UK Coal has been selling off chunks of its vast estate for more than a year and recently sold 764 acres of farm land for £10m of land to housebuilder Taylor Wimpey.

So will Taylor Wimpey be able to get permission to build on farm land?

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So will Taylor Wimpey be able to get permission to build on farm land?

Meh! What have they got to lose?

Buy the land, run the farmland as farmland (which should be profitable anyway?), and stick in the planning permission. If they get it, then they are quids in; if not, they can always sell the land off (If they want to) for something close to what they paid for it.

They only need 5-10% of it to be approved for building and they are in profit without having to sell the rest.(*)

* - Assuming they can sell the houses that they build!

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If it's from UK coal it better be a cheap-looking place because of the chance of finding you're not getting all the land - there might be significant bits missing beneath your feet.

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If it's from UK coal it better be a cheap-looking place because of the chance of finding you're not getting all the land - there might be significant bits missing beneath your feet.

Yep

A lot of people do not realise why BRITISH COAL bought or owned the land in the first place,Much of it was bought many years ago to prevent claims for subsidance, it was cheaper to buy it at the time to prevent claims of subsidance against them which could have been more than the land was worth.

Much of the land may be ok for farming but building is a big?

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Yep

A lot of people do not realise why BRITISH COAL bought or owned the land in the first place,Much of it was bought many years ago to prevent claims for subsidance, it was cheaper to buy it at the time to prevent claims of subsidance against them which could have been more than the land was worth.

Much of the land may be ok for farming but building is a big?

Actually, most of the deep mines of the NCB/BC, now UK Coal used long wall mining, in which most of the subsidence happens during mining. 20 years after the pits have shut there's not a major subsidence risk.

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Actually, most of the deep mines of the NCB/BC, now UK Coal used long wall mining, in which most of the subsidence happens during mining. 20 years after the pits have shut there's not a major subsidence risk.

With housing in mind, The insurance company would have to decide that ;)

Edited by awaytogo

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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