New HS2 compensation announced - Business

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New HS2 compensation announced

MHBG-30-09-10 HS2 Protest Pictured - Protesters

Published on 25/10/2012 11:47

The Government has announced a new HS2 compensation package it has described as generous and comprehensive.

It says residents affected by the first phase of the proposed high-speed rail line will now get full market value for owner-occupied homes within 60m of the route, as well as extra compensation of up to £47,000.

Rural homeowners in a ‘voluntary purchase zone’ immediately outside the safeguarded area closest to the route will also be able to sell homes for their full unblighted value.

Other measures include a long-term hardship scheme for those who may need help moving during building work, and a sale and rent-back scheme will be introduced for homeowners who want to stay in homes which may eventually be needed for construction work.

The new compensation package will now be subject to a period of consultation until January 31 next year.

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New HS2 compensation announced

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