Everything You Need to Know About HS2 |
Posted: May 23, 2017 |
Phase 2 of a high speed railway has been confirmed in Britain, this will make for much quicker cross-country journey for commuters and travellers alike. Although many people support this, a lot of controversy has arisen for homeowners who live in the affected construction areas. Many homeowners across the UK will feel the sting of construction, which will range from minor disturbances, to their houses being put under a compulsory purchase order. There are various levels of compensation available to homeowners because of this. Here is everything you need to know. What is HS2?
HS2 is the name given to the new high speed railway that will be available to the public in years to come. the plan is for this railway to connect Manchester, Birmingham and leeds to the South and London, mainly following the same route as the M1. There journey can be as quick as under an hour and will cost a whopping £56billion to build. Experts have stated that this could be a turmuntulous time for those who are involved in commercial property management, Manchester is amongst one of the cities that is most affected. Eligibility: Those who are most directly affected by the railway will be eligable to receive up to 110% of their properties value, based on the price before any construction will go underway. In Manchester alone it is up to now confirmed that 70 homes will be destroyed in the event of the construction, and there will be an 8 mile tunnel running through the city. It is believed that the average amount of HS2 Compensation available to homeowners will be £22,500 if you live within 300 metres of the trainline. If you believe that you are eligable for any compensation, or that you will be affected by the HS2 trainline, then it is always a good idea to consult with a professional and find out what your best options will be.
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