The High Speed Rail Link & the Effect on Commercial Property
23rd February 2017 saw the passing of the The High Speed Rail (London – West Midlands) Bill, meaning The High Speed Rail (London – West Midlands) Act 2017 is now in force. The 2017 Act will grant a number of powers to the Government in relation to the construction of the new High Speed Rail Link (HS2), including building and maintaining ‘Phase One’; acquiring interests in land required for the route; affect or change rights over land required; and carrying out works to buildings. Our Commercial Property Solicitors in Leicestershire provide this interesting guide to HS2 and its likely affects.
‘Phase One’ relates to the London to West Midlands Link with the line starting in Euston, London and running up to a new station in Central Birmingham. The passing of the Bill means that works can now begin on Phase One, including surveys, ground checks, land clearance and archaeological works. ‘Phase Two’ covers the Birmingham to Manchester and Leeds Link and will be implemented in the future.
During the course of purchasing a property, it is standard for a number of searches to be undertaken along with enquiries raised with Vendor’s Solicitors. Within the results of a Local Authority Search in particular, if the property being purchased falls within a certain proximity of the proposed HS2 Link, then this will be revealed and it is advised that further information is obtained in relation to the distance from the rail link. If in initial discussions regarding the purchase it is revealed that the property may be affected by the HS2 project, it is advisable to ask the Vendor for any further information or notices that they may have received in relation to the proposed works and whether they will affect the property in any way.
Visit the HS2 website to access the Interactive Map, showing the route of the London to West Midlands Link and to determine how close the route will be to any property you are looking to purchase.
The construction of the HS2 link will have inevitable consequences for many property owners and business owners and so it is advisable to enquire further when the property being purchased is located within a close proximity to the proposed Link. Properties may be effected by the noise and pollution from the initial construction works, the close proximity to a major rail link could result in down values, but properties may also be affected by the Compulsory Purchase Orders that will be issued for any land required for the route. However, every cloud does have a silver lining – the major benefit of the HS2 will be that better transport will be available and more accessible.
We would strongly advise Tenants and Purchasers to ask the question at the outset as to whether the Property could potentially be affected by the HS2 so that the relevant searches and enquiries can be raised and information gathered during a transaction.
There are also additional HS2 searches that can be undertaken to provide further and more in-depth information and should you wish to discuss any of this further and the other information available, please contact us on 0116 255 1811 or email KAdams@josiahhincks.co.uk.
