Tuesday, January 27, 2009
Latest plan to exploit the weakness of the property market
Property investment firm Pinder Fry & Benjamin (PFB) is targeting returns of 21% with a new fund that will buy up agricultural land and sell it on for residential use. The PFB Strategic Land Fund will aim to buy up to 20 agricultural sites before securing planning permission to use them for residential development. PFB chief executive Ed Williams said the fund could exploit the weakness of the property market by buying the land cheap.