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HS2 News Update: Details of the Land Required For the HS2 Project Announced

HS2 News Update: Details of the Land Required For the HS2 Project Announced

The article below was published on the Knight Frank Blog:

Landowners along the route of HS2 between London and Birmingham could find more or less of their land than previously suggested will actually be needed following an announcement today.

Transport minister Patrcik McLoughlin has just unveiled (26 June 2014) revised “safeguarding” directions that tally more closely with the details of HS2 included in the controversial scheme’s Phase 1 Hybrid Bill, which is currently working its way through parliament.

Safeguarding directions cover a zone approximately 60m either side of the middle of the proposed route.

From a planning perspective they protect the land required for the project from other developments.

But more importantly for property owners they have an important bearing on what compensation schemes they could be eligible for.

Those within the safeguarding zone can serve the government with a Statutory Blight notice to acquire their property.

If they meet the relevant criteria they can expect to receive the ‘un-blighted’ open market value of their home, a home loss payment of 10% of the value of their home—up to £47,000—and reasonable moving costs, such as legal fees, and stamp duty on a replacement property.

The discretionary HS2 Express Purchase Scheme now applies in the surface safeguarded area. The scheme provides eligible property owners with the same compensation entitlement, whether or not their property is required for the scheme.

Where an area of land has been removed from the safeguarded area by these new safeguarding directions, the Express Purchase Scheme will remain available to owners of properties in that area – the extended homeowner protection zone – for five years.

“The changes to the safeguarding zone could be beneficial to some landowners who would previously just have missed out on some of the compensation options,” says James Del Mar, Head of Knight Frank’s HS2 team.

“It is essential to review these new plans to understand the implications for compensation eligibility and quantum and appropriate action going forwards,” he adds.

To view the article source please click here.

If your home or business is in the proposed pathway of HS2, or is likely to be adversely affected by the construction of this controversial rail route, we can help. For more information on HS2 compensation claims please click here or call us on 01895 207988. Alternatively, email us at propertydisputes@ibblaw.co.uk.