HS2 to cut through Mexborough housing development.
The government’s announcement of the route for HS2 has caused consternation in South Yorkshire.
The railway line will pass through Mexborough, resulting in the demolition of 16 homes on the newly built Shimmer development. Remaining homes on the development will be significantly affected by their proximity to the new line.
The government admits that compensation packages may not be enough for homeowners to buy a similar property in the area. It has stated that together with HS2 it plans to work with residents, local councils and local MPs to devise a plan that means homeowners will be able to move to a comparable home locally.
There is a standard compensation package for those whose homes are acquired by the government. This is the ‘unblighted’ market value of their home plus 10% plus reasonable costs. Those who decide not to sell to the government can choose to receive a cash payment of £30,000.
A Department for Transport report found that homes across the development have dropped in value by 10% against the original purchase price. Worryingly, the report also predicts a rise in house prices in the area. Large numbers of Shimmer residents seeking new homes at the same time will push up prices. So there’s a double whammy for residents having to sell at a low price and buy high.
What are the options for those affected?
Harvey Harding, MD of Sheffield law firm PM Property Lawyers, says: “It may be some time until the actual development of HS2 begins. But it would be prudent for residents and property owners affected by the route to take advice and consider their options. We offer a free initial advice appointment for those affected by HS2 to discuss their options.”
If you are concerned that you may be affected by HS2, please email us on email@example.com.