Property owners north of Birmingham must prepare for high-speed rail line (HS2) extensions, says Knight Frank
Date : 12 October 2010
Key points:
- Government shows commitment to HS2
- HS2 line could be extended from Birmingham in two legs to Leeds and Manchester
- Property owners north of Birmingham should be prepared to apply to Exceptional Hardship Scheme if it becomes available
- Knight Frank has one of the sector’s most experienced major infrastructure compensation teams
Philip Hammond has asked the company considering the case for a high-speed rail line linking London to Scotland (HS2 Ltd) to start planning the routes for two branches north of Birmingham.
The Secretary of State for Transport told Brian Briscoe, chairman of HS2 Ltd, that he thought a “Y” shaped route with separate legs to Manchester and Leeds would offer the greatest benefits, even though it would be more expensive to build than a single line north of Birmingham.
Mr Hammond has asked HS2 Ltd to deliver its findings by December 2011.
James Del Mar, head of Knight Frank’s HS2 team, commented:
“The minister’s announcement highlights two important points. First, the fact that Mr Hammond is already talking about possible routes for HS2 north of Birmingham indicates the government’s apparent commitment to the project.
“There was some speculation that the first leg of HS2, which will link London to Birmingham, could be a victim of the Comprehensive Spending Review later this month. That now seems unlikely, which I am sure will be a disappointment for those campaigning against the project.
“Second, It also raises important issues for landowners who may be affected by these new legs to Leeds and Manchester. Property values could now be affected, even though no specific route details are yet available. At present, the Exceptional Hardship Scheme (EHS), which can provide compensation to those whose property has been devalued by the proximity of the proposed HS2 route, only applies to the London-to-Birmingham leg of the line.
“The government will now be under pressure to extend the EHS north of Birmingham. Even if property owners are not sure if the line will pass through their property, they still need advice, help and support. Knight Frank’s HS2 team, which is already heavily involved helping clients affected by the London-to-Birmingham leg of HS2, will be happy to discuss the implications of Mr Hammond’s announcement.”
Anybody affected by HS2 can receive a free initial consultation from Knight Frank’s HS2 team, which has 90 years of combined experience dealing with large infrastructure schemes, such as the M25, Stansted Airport, Cross Rail and the Channel Tunnel Rail Link.
For further information, please contact:
+44 (0) 20 7861 1033, +44 (0) 7796 996 154
+ 44(0)1488 688 507
+44(0)1488 688 548
+44 (0) 1179 452 642
Tom Barrow, farm and estate valuations;
+44 (0) 1179 452 641
Mark Bird, residential valuations;
+44 (0)121 233 6493
Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank and its New York-based global partner, Newmark Knight Frank, operate from 207 offices, in 43 countries, across six continents. More than 6,340 professionals handle in excess of US$886 billion (£594 billion) worth of commercial, agricultural and residential real estate annually, advising clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit www.knightfrank.com.