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Government sets out HS2 compensation

Government sets out HS2 compensation

Residents affected by the London-Birmingham HS2 high-speed rail project will receive compensation measures that go “significantly beyond statutory requirements”, the Government has promised.

Under the promise, the Government will buy any owner-occupied home in the “safeguarded area” as well as proposing to pay additional compensation of 10% up to the value of £47,000. The “safeguarded area”, which refers to an area within 60 metres of the planned route, includes 483 rural residential properties, 340 urban residential properties and 278 business properties. A total of 338 homes will have to be demolished to make way for this first phase of the project.

The Government is also establishing a voluntary purchase zone (VPZ) that covers an additional 60 metres outside the safeguarded zone in rural areas, including 788 homes and 25 business properties. Homeowners within this zone can sell their homes at their full unblighted value. Due to be completed around 2026, the HS2 will dramatically reduce London to Birmingham rail times. A second Y-shaped phase, extending the line to north-east and north-west England and beyond, is due to be completed around 2032/33.

For more information on HS2 claims and compensation please contact our real estate dispute resolution team on 08456 381381 or propertydisputes@ibblaw.co.uk.