High speed rail land values support plea

Artist's impression of planned HS2 line
Artist's impression of planned HS2 line
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An organisation representing landowners is appealing for the Government to help ensure owners of homes, land or businesses on the high speed rail route do not lose out financially.

The Country Landowners’ Association has urged ministers to launch a bond scheme backed with public money.

Under the organisation’s proposals, a property bond would guarantee that owners of land, homes or businesses along the route would not lose out financially if the market value dropped because of the £43 billion HS2 rail line.

The planned high speed rail route threatens homes in the Killamarsh area, and land north of Sheffield, into the Barnsley area.

Country Landowners’ Association regional director Dorothy Fairburn said: “A property bond scheme, which would guarantee the value of properties affected by HS2, would shore up the situation.”

The Government said it has set up an exceptional hardship scheme but this only applies to people who can demonstrate they have an ‘urgent need to sell’.

Mr Burns said: “We will be announcing details of our compensation consultation, including a property bond option, for phase one of the route between London and Birmingham shortly. On phase two to Manchester and Leeds, we are consulting on the route that the high-speed line will take after which there will be a compensation consultation.”

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