HS2 plunges homeowners into financial LIMBO-LAND says Trevor Kent 

 

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 
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