In the context of a vacant plot of land, what does "land banked" mean?

Construction companies and property speculators often buy plots of land with or without planning permission. These plots of land are then developed at some point in the future when demand for Housing or Industrial property in the area increases. The plots can be held for 10-20 years in some cases. The collective names for these individual plots of land is the "land bank" and is often the most valuable asset of a house builder. If a plot of land in land banked, it simply means that it won't be developed immediately, but instead it will form part of the organisations land bank for the future.

Hi Brian, Imight be wrong - in which case i apologise in advance... but i think it refers to a piece of land that is surrounded by other land already owned by someone else which you need to get access to/ permission from the owner of that land in order to get to the vacant land. so in effect if someone buys the vacant land they will have to get permission (or more likely buy access) from the person with the land around it.

sometimes this is difficult bcos no one knows the person who owns the access strip, or they cant be located.

hope this is clear!

x

Land banking involves the process of buying and holding land before other companies or people build upon it.

Land banking is often done by large development companies it is often, although not exclusively, land on which there is currently no permission for development (for example, green belt land) these companies often hold such either to develop later, contest green belt, or, await local developments which give them a better chance of contesting non approvals.

not sure

Your first answer means land locked.

Land banking is when a company or individual purchases land with the intention of:

acquiring parcels of land to create a large development area;

acquiring land to prevent someone else from using it/gaining access across it;

acquiring land to build on at some future time.

Think Tesco and their aggressive land grabbing policy and that is a perfect example of land banking!

land banked im not sure if that is what you mean, ive not heard of it sorry