Case Study: HIGH SPEED TWO & STATUTORY BLIGHT NOTICE
Roger Hannah & Co successfully negotiated the disposal of Wheatley House in Marston, Warwickshire to High Speed 2 Limited following the serving of a Statutory Blight Notice.
Wheatley House comprises a substantial six bedroom country house set within 3 acres of garden and woodland. In addition, the property benefitted from a further 7 acres of agricultural land. The property is situated adjacent to the proposed Kingsbury Road Railhead which is to be developed to facilitate the delivery of Phase 1 (London & West Midlands) of the line.
We were initially contacted by the clients to discuss the potential for compensation and advise on the various discretionary compensation packages introduced by High Speed 2 Limited. From our due diligence, it became apparent that only part of the land holding had been located within the Safeguarded Zone. After further investigations, we established that 29% of the landholding had been allocated within the Safeguarded Zone.
We advised our clients that, under the criteria of the Express Purchase Scheme, a Statutory Blight Notice could be served where over 25% of the landholding had been allocated within the Safeguarded Zone identified for the delivery and development of the line. Accordingly, working with the clients’ lawyers, a Blight Notice was served in accordance with the Express Purchase Scheme.
Following the acceptance of the Statutory Blight Notice, we negotiated a compensation claim which included the Market Value of Wheatley House as well as an appropriate disturbance compensation claim and loss payment. We were able to negotiate and conclude the claim in a timely manner so as to ensure the clients were not in breach of their banking covenants.
For further information and/or advice, please contact our team.