A package of measures to compensate owner occupiers affected by the construction of the Phase 1 HS2 route between London and Birmingham was announced on 16 January 2015.
The package of measures introduced contains two new alternative cash schemes which enable owner occupiers to remain in properties and receive monetary compensation. This will help people and businesses to stay put rather than being financially persuaded, through potential compulsory acquisition or blight to move. Owner occupiers for these purposes will include residential properties, small business units and agricultural units.
The amount of compensation available will depend upon the proximity of the property to the proposed route. None of the cash alternative schemes will apply to parts of the proposed route where the line will be in a tunnel.
Sam Catling, Director of Rostons, says the schemes are necessary to compensate affected people as the current compulsory purchase legislation is outdated and does not fully compensate affected parties fully for losses incurred due to large schemes such as HS2.
Sam Catling says it also paves the way for the basis on which Phase 2 compensation will be based which will assist affected parties by Phase 2 of HS2.
For more information, please contact Rostons on 01829 773000.