A revised compensation scheme for those living along the High Speed 2 route between London-Birmingham has been announced by Transport Secretary Patrick McLoughlin.
Homes and small businesses located between 60-120 metres from the line in rural areas will be able to submit an application for HS2 Ltd to purchase their property at the full, un-blighted value under the voluntary purchase scheme – the value of the property without HS2. Alternatively, eligible property owners will also have the option of 10% cash payment of the un-blighted value.
For those living between 120-300 metres from the line in rural areas, homeowner payments ranging between £7,500-£22,500 will be available – dependent on Royal Assent of Phase One of the HS2 Hybrid Bill.
A need-to-sell scheme provides an opportunity for eligible owner-occupiers living any distance from the line of route to apply – which also pays the un-blighted value to people with a compelling reason to sell their property, but who have been unable to do so – other than at a substantially reduced price – due to HS2. The scheme will consider applications from those who may not need to move immediately.
- For more on this story, see RAIL 767, published on February 4.