MYSTERY surrounds the identity and motives of a developer who bought a large piece of woodland for £500,000.

A 9.4-acre strip of green land next to Debden Lane, in Loughton, was pre-sold at auction last month to a buyer whose identity is yet to be revealed.

According to auctioneer Barnard Marcus's catalogue, the land "offers enormous opportunities and scope not only for significant residential development subject to all necessary and appropriate consents, but may provide the opportunity for immediate leisure use which may include activities such as paintballing etc or a shooting ground".

But residents living near the land are concerned the green plot could become the site of a new housing estate.

John Wood, of Debden Lane, said: "There's very little that can be done for it without applying for change of use. I can't understand why anyone would pay £500,000 for it.

"I've no idea why they've bought it, but my concern is it will be changed from a natural wood into something other than that. Local people we have spoken to would like to see it as it is. I can see no benefit to anyone in changing it.

"I think it would change the whole shape of the area- the whole feel of it. This is almost a little hamlet of its own."

Loughton mayor Chris Pond said: "I imagine a developer has bought it to add to their landbank in the hope that green belt policy will be relaxed sometime in the future.

"It's hard to see how they'd get it. That area of land has an historic significance as the overgrown gardens of Debden House. It houses an ancient monument that's never been surveyed. The district council would fight any attempt to rescind that area of Green Belt. If it was lost you might as well join up Theydon Bois and Loughton. It's that land that keeps them separate."