The Results Are In!- Initial HS2 Compensation and Assistance Package announced
Following the judicial review in March 2013, the Government re-consulted on compensation provisions applicable to property owners affected by Phase One (London to West Midlands Route) and this consultation closed on 4 December 2013. The Government received an incredible 17,780 responses.
On 9 April 2014, the results of that consultation were published and an initial compensation and assistance package was announced. Some elements of the package have become available, including the express purchase scheme for owner-occupied properties within the surface safeguarded area and the ‘rent-back’ scheme. Other aspects, including the voluntary purchase offer and the need to sell scheme, will be the subject of a further consultation expected later this year. It seems that businesses and non residential occupiers will remain in a difficult position and no enhanced compensation will be offered.
Watch this space for an update next week which will cover a detailed analysis of the results of the consultation. Those property owners likely to be affected by Phase Two will no doubt be watching carefully as it is likely that the compensation offered in respect of Phase One will act as an indicator to Phase Two compensation schemes.
News & Insights
Sustainable Repurposing and Planning
The opportunities for investors and developers to meet new demands in a changing market are there.
Public Company Update - November 2020
The November 2020 edition of our biannual Public Company Update.