High Speed 2: the proposed property compensation scheme
On 12 September 2013, the government announced the latest consultation on the proposed compensation scheme for properties affected by the High Speed 2 rail network (HS2).
The proposed scheme is made up of a package of compensation measures for properties inside the safeguarded area and also includes allowances for properties in rural areas which are not safeguarded but are located close to the new network. The proposed scheme will be of interest to both landowners and developers affected by HS2. However, the proposals do not include any further measures for large businesses or commercial developers beyond that set out in the compensation code.
An Exceptional Hardship Scheme is already in place and has been operational since August 2012 to assist owners of properties near to the proposed route of HS2 who have an urgent need to sell. In the period of August 2010 to August 2013, 118 applications were made under this scheme. Ninety-four of the applications proceeded to a purchase, at a cost in excess of £54m…
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