CLIENT
-
Sydney & London
CLIENT INDUSTRY
-
Investment
SERVICES PROVIDED
-
CPO, planning, valuation advice
LOCATION
- Euston, London
DATE
- 2017 - 2020
CHALLENGE
Our client owned four large office buildings located infront of Euston station which were acquired by HS2 in August 2017. Savills CPO, valuation, planning, and development teams were instructed as independent expert witnesses to assess both the existing use value and development value of the property, apply for a Certificate of Appropriate Alternative Development and advise on the compulsory purchase process, including submission and negotiation of a compensation claim.
SOLUTION
Due to the level of dispute HS2 submitted a referrence to the Upper Tribunal (Lands Chamber), with a hearing date set for Summer 2021. Savills and HS2s agents were in frequent communication, negotiating any points which can be agreed ahead of the hearing.
RESULTS
Through instructing Savills the client has recieved collaborative advice covering the planning potential, development and valuation, and compulsory purchase advice which supported the clients position that enabled it to reach a settlement before a scheduled hearing at the Upper Tribunal (Lands Chamber).
It is likely to have been the largest compensation claim to have be settled in the UK and indeed by the Upper Tribunal were it not have been settled.