COMPANIES A company will be launched next week looking to raise up to £250m ($411m) to buy swathes of residential land from distressed housebuilders in the expectation that prices will rise again once the housing downturn ends.
Landbank, which hopes to float on Aim in July with between £150m-£250m, will look to acquire land at the bottom of the cycle, increase its value through the planning process, then sell the land back to builders when the market recovers.
