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HS2 plunges homeowners into financial LIMBO-LAND says Trevor Kent |
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HS2 CREATES NEW CORRIDOR OF UNCERTAINTY FOR PROPERTY OWNERS
TREVOR KENT Former
President of The National Association of Estate
Agents and himself an agent specialising in the
approaches to the Chilterns, based in Gerrards
Cross, Bucks says “ We now have a black
hole, a corridor of uncertainty following
today’s announcement by the government on HS2. This
hammer-blow has fundamentally affected property
owners and occupiers from London to Birmingham
within sight, sound or path of the route. This
declaration today has created a new territory in
our country which I shall christen LIMBO-LAND. A
land where residential and commercial property
values will now, at a stroke, have been thrown
into crisis and
for what - a few minutes off a journey at
break-neck speeds which the majority already claim
they will not take advantage of either
on cost or safety grounds”.
Trevor
Kent, a regular commentator on the property
market, continued “ the arrangements for
compensation have yet to be defined, the intention
is to provide Statutory Blight Provision but
agents have no idea of the extent of the
compensation, the qualifying criteria or time
frame. Most
importantly, arrangements for property owners that
should qualify for ‘Exceptional Hardship
Consideration’ due perhaps to serious illness,
financial crisis etc, are totally unclear ”.
Trevor
Kent calls for the establishment of an independent
QUANGO with funds to immediately get to grips with
residential and commercial property owners and
tenants for whom today’s route
confirmation has put them firmly into LIMBO-LAND
– unable to sell at any price for the next few
years, or perhaps ever.
Trevor
Kent is a former President of the NAEA
a broadcaster and
writer on property.
01753 885522
Follow Trevor Kent on
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