I live on a small private residential development where there is a pretty landscaped plot of land facing our homes. It was retained by the developer after the estate was built, but has always been maintained by us at our own cost.
The developer, after planning permission was turned down for another house on this plot, is now offering to sell us this land to us with condition no residential property can be built on it without their permission.
If we show no interest, we have been informed they may sell the entire plot to an interested third party (partly for garden extension) whose property backs onto this land.
It's unlikely everyone in my close will want to buy this land collectively given we would have to set up a residential management company to do so, plus the fact it will cost us ££££ and time to purchase plus manage.
Would I be mad to buy it myself, or with a couple of others, to protect the character of the close and saleability of my house? Lots of big trees on land, some covered by tree preservation orders.
Or should we just let it go and lump the fact we may have problems with the new owner whoever it might be and lose the view. Can anyone foresee any other problems in not buying this land. Anyone been through something similar?