HS2 – New voluntary purchase scheme may evolve to help property owners

HS2 – New voluntary purchase scheme may evolve to help property owners

A new Voluntary Purchase Scheme is being proposed for properties will on the route of the high speed rail line between Birmingham and London.  If the scheme is adopted it will mean that properties can be sold directly to HS2 Ltd.
Knight Frank has suggested that the proposal is one of the reasons why there has been a delay in the public consultation on five other discretionary compensation schemes.  The public consultation was due to be launched this spring.
The initial five discretionary schemes due to be consulted on are:
Introduction of a streamlined purchase scheme to simplify the statutory blight process for property owners
A sale and rent back scheme for those owners in the safeguarded areas
Introduction of a streamlined small claims scheme for construction damage
A package of measures for those properties over tunnels
A refreshed hardship scheme, which would replace the Exceptional Hardship Scheme 
James Del Mar, Head of Knight Frank’s HS2 team comments:
“The introduction of a Voluntary Purchase Scheme is a welcome proposal.  If acceptable, it could be a useful alternative to going through the Compulsory Purchase process, which can often be quite complicated.”     
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