Project summary
- To advise a corporate estate client regarding HS2 and maximisation of any compensation claim.
- HS2 expected to significantly reduce the value of the holding, which is assessed on date land entered for construction works.
- Property consisted of a farmhouse, bungalow, farm buildings, commercial lets and agricultural land.
Solution
- Detailed review of farm to identify opportunities to increase likely compensation.
- Identified bungalow subject to agricultural occupation condition, being occupied by a sub-tenant not employed in agriculture.
- Agricultural tie likely to reduce market value of the property.
- Opportunity to regularise or remove agricultural condition, before HS2 enter land for construction.
- Application for Certificate of Lawful Use submitted and approved by the local council.
Benefits
- Current sub-letting no longer in breach of planning condition.
- Risk of enforcement action by the council removed.
- 20-50% increase in likely compensation claim against HS2.
- Opportunity for full removal of agricultural occupancy condition (being pursued).
- Potential increase in rental value of property.
