Green Belt housing scheme promoted by footballers leaves investors in the red

By David Hencke 900PM GMT thirteen March 2010

A selling debate fronted by Bryan Robson, the former England captain, and Steve McMahon betrothed a 250 per cent lapse in 3 years if a sand array nearby Heathrow airfield was grown for housing and leisure.

However, the site is on immature leather leather leather belt land where housing growth is banned.

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While Profitable Group, the Singapore-based skill association at the back of the scheme, has finished at slightest �47 million from the deal, zero has nonetheless materialised at the site not even a formulation focus to set up a singular house.

The dual former footballers, right away vital in the Far East, used their luminary standing to marketplace the intrigue on radio opposite south-east Middle East in 2006.

Profitable altered the name of the tract of land from Lower Feltham Lakes to Concorde Village for the purposes of the selling drive.

But no growth can take place unless a formulation examiner can be swayed to overrule the sites immature leather leather leather belt standing opposite the wishes of Hounslow council, the internal formulation authority, that resolutely opposes construction there.

A orator for the legislature pronounced "We would usually rise immature leather leather leather belt land if there were really special reasons. We see no special reasons for you do so on this site."

Profitable, of that Mr McMahon is blurb director, has paid for 4 sites in Britain for a couple of million pounds and widely separated them in to thousands of little plots that have been charity to investors, bringing in tens of millions for the company.

The Feltham site was paid for from Taylor Woodrow (now Taylor Wimpey) for �3.2 million, afterwards resold in small plots at �8,000 to �13,000 each to abroad investors, a use well known as "landbanking".

The sales lifted something in between �50 million and �55 million. Investors will realize the money when and if the land is redeveloped.

To try to rise the Feltham site, the association has right away brought in dual British lobbying and consulting firms to marketplace the intrigue and pull up plans for the development.

Chelgate, a Westminster lobbying company, has sought to opposite the councils antithesis by conceiving mentally a open conference procedure, together with the entertainment of an muster with five opposite ideas to rise the site for housing and leisure, to that 5,500 households were invited.

Chelgates emissary authority is Nick Wood-Dow, an confidant to David Cameron and emissary authority of the Conservative partys sourroundings council.

The alternative association operative for Profitable is DLP Planning in Sheffield, that is looking to have changes to a London-wide land-use plan in a move that would enlarge Hounslows housing target, forcing the precinct to accept some-more new homes inside of the borders. However, the last plan will not be drawn up until 2012.

Mr Robson told The Sunday"I was paid to do a blurb TV advert to be shown on Singapore TV five years ago for Profitable Plots.

"I have not finished anything for them given and I was unknowingly of any debate over growth of the land."

Profitable declined to take questions and instead asked Chelgate and DLP Planning to reply on the behalf. Chelgate reliable that a radio debate featuring the footballers had been used to foster the deal. The announcement is still on Profitables website.

A Chelgate orator pronounced "Circulation of a TV announcement display land at Feltham… as charity an estimated lapse of 250 per cent in 3 years, was aired for a short duration in 2006… such promotion has prolonged given been withdrawn. Investments have been sole on a smallest 7 to 10-year horizon."

Chelgate additionally pronounced the association would pay off anybody who longed for to dump out of the scheme. Its orator combined "No investors in the Lower Feltham land have exercised their right to sell."