Voluntary Purchase Scheme
Eligible owner-occupiers whose properties fall within the RSZ would be able to ask the Government to purchase their property at 100% of its un-blighted open market value.
In order to qualify as an “eligible property owner” one would have to comply as having a qualifying interest under section 149 of the Town and Country Planning Act 1990 outlined as follows:
- A resident owner-occupier of a private dwelling
- An owner-occupier of any business property where the annual (rateable) value does not exceed the prescribed limit at the date of service of blight notice - £34,800.
- An owner-occupier of an agricultural unit with at least six months occupation of the whole or part.
- Certain mortgagees and personal representatives.
These are the same categories of property owners who, if they were within the safeguarded area, would be eligible to serve a Blight Notice.
In order to assess property values the Government would pay for two independent valuers chosen from a pool of valuers familiar with the local area and property type.
There would be no other additional compensation payments on top of the un-blighted open-market value of the property owing to the fact that this is a voluntary scheme and it is very unlikely that any of the properties in the RSZ will need to be compulsorily purchased.
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