The government announced this week the proposed route for
Phase 2 of HS2, which will link Birmingham to Leeds and Manchester.
A number of cities along the route are disappointed that the
high-speed rail line will not pass closer to their town centres, but those
farmers, estates and homeowners who could potentially be affected will
naturally be very concerned. The time to find out how it will affect them is
now, Knight Frank has urged.
James Del Mar, Head of Knight Frank's HS2 team, says:"Any
land or property owners who think they may be affected by the second phase of
HS2 linking Birmingham to Leeds and Manchester should take action now to find
out the extent to which the proposed route will affect their property.
"Although actual construction of the line, if approved, may
seem a very long was off, our experience working with clients along the initial
London-to-Birmingham leg of the scheme shows the value of good preparation when
it comes to putting people in the best position for any potential compensation
claims."
The Royal Institution of Chartered Surveyors has stated that
HS2 has huge potential to drive economic growth, along with lowering carbon
emissions and expanding the capacity and speed of the UK's transport network,
which still seriously lags behind other countries.
The high-speed rail will be hugely important in supporting
economic growth and recovery by linking major economic centres for trade and
investment, argues the RICS. HS2 is highly anticipated by Midland and Northern
cities which will benefit from the increased connectivity and wider property
based opportunities.
The route, which will slash journey times 30 minutes between
London and cities such as Birmingham, is the first step in a scheme that will
eventually see the railway line extending to Leeds and Manchester, with trains
hitting speeds of up to 225 miles per hour.
But many locals are concerned about how the new
infrastructure will affect their home. Indeed, out of 55,000 responses to a
consultation about the project, over 65% mentioned property.
For those whose house may have to be knocked down for the
railway line, the government will serve compulsory purchase orders (CPOs),
according to the Guardian,
although it will be "2015 at the earliest" that these are needed.
"Even when it does serve a CPO you may not have to move out
straightaway," adds the paper. "It is working on a sale-and-rent-back scheme
which would allow homeowners to sort out the CPO then remain in their property
as tenants, paying the market rate until construction begins."
The government has promised to pay homeowners a sum based on
the open market value of the property, not affected by the HS2 scheme, in
addition to a 10 per cent "home loss payment" up to a maximum of £47,000 and "reasonable
moving costs".
For more advice and information, the Guardian's help article
is here
- and you can respond to the ongoing consultation before the end of January:
http://highspeedrail.dft.gov.uk