HS2 compensation packages “significantly beyond” expected level finally announced
RESIDENTS along the proposed HS2 track near Kenilworth could be in line for a £47,000 payout on top of full “unblighted” value of their homes in newly-announced compensation proposals.
The Department for Transport has released its property compensation package for those affected by the proposed high speed rail track between London and West Midlands, which they say goes “significantly beyond” statutory financial requirements.
Proposals include a Government commitment to buy any home in the ‘safeguarded area’ (within 60 metres of the route) along with a home loss payout of ten per cent up to £47,000 and ‘disturbance costs’ to cover fees, removal and stamp duty on a new property.
They will consider purchasing, at full market value, homes and businesses which fall within the ‘voluntary purchase zone’ (120 metres either side of the tracks) - but there is no guarantee of a sale.
Anyone further out who cannot sell their homes because of the development can also apply for the Government to buy their houses, and a sale and rent back scheme will allow anyone whose home needs to be demolished to sell up but rent their house back from the Government until construction starts.
A ‘settlement deed’ will guarantee that HS2 is liable for any damage caused by tunnelling.
The proposals are now subject to a period of consultation until January 31 2013 and anyone interested can respond.
Rail minister Simon Burns said he felt the package offered “absolutely the right support” for those affected and that it “strikes the right balance” for communities and the taxpayer.
Compensation was the main talking point at the information day at Kenilworth School, where hundreds packed out the hall to hear the latest plans.
It has been estimated that land value could fall by up to 90 per cent and many are already struggling to sell their homes.
Councillor Michael Coker, who chaired Saturday’s session, said: “Until this is agreed, people just don’t know where they stand. The uncertainty is for those not directly on the line who don’t know how much they will suffer and if they will be eligible for anything.”
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Wednesday 19 June 2013
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