FOREIGN investors have been warned greenbelt land they have bought can not be used for homes.

Daisy Lee Farm, a 25-acre site in Spinfield Lane, Marlow, has been scoped out by Middle Eastern businessman, according to nearby residents.

The land, listed as an ‘Area of Attractive Landscape’, has been in the greenbelt for 20 years. It is designated for agricultural use.

Article 4 directions - which remove 'certain permitted development rights' from the land – have been issued by Wycombe District Council.

The notices have been displayed at the site, where land was being sold to Arab businessmen under the name 'King's Estate', Forty Green Preservation Society said.

Council officials confirmed the land had been offered for sale.

Thirty plots out of 41 were sold at an exhibition in the Middle East according to a report in March from

Documents from the website of GRE Portfolios Limited from July say 'prices start from £35,000'.

GRE told the Free Press it was no longer involved with marketing it, but declined to comment further.

The information from its website in July has been removed.

Society chairman Michael Hyde said his wife had talked with some Arabic speaking businessman who visited the site on August 8 and said they had bought land there.

They were confused and “disappointed” by the notices, he said.

Residents had been “anxious” about possible development at the site.

“We now feel reassured that the council have taken all the steps they can at the present time and we we are all speaking with one voice locally,” he said.

“We will challenge any attempt to develop the area.”

WDC's 'core strategy' document states it has already identified enough sites for housing in Marlow up to at least 2026 and no sites involve the Green Belt.

Wycombe District Council spokesman Catherine Spalton said: “We're aware this land is being offered for sale in plots and we have been working closely with local residents to display notices warning prospective buyers that we do not anticipate having to release this land for development.”

“The current direction means that fences, walls and other means of enclosures cannot be erected on the land nor can the land be used for any purpose other than agriculture - therefore not for markets, car boot sales or events.

“The proposed direction, which is currently out for consultation, would mean that the land could not be used as a caravan site.”

In 2006 Saudi Arabian company Global Real Estate Company was 'formed to partnership with' GRE Portfolios in the UK, according to its website.