CPO Fact 2:

Compensation for property owners affected by a scheme where compulsory purchase powers are used can be split broadly into five main headings.

1 : Compensation for land taken. Based on the open market value of land acquired.

2 : Compensation for reduction in retained land.

3 : Statutory Loss Payment (Home Loss Payment 10% of value of land acquired or Basic Loss Payment 7.5% of value of land acquired)

4 : Disturbance. This is costs (or loss of profits) incurred as a result of the forced sale of property.

5 : Professional Fees : Surveying and legal advice is compensated for.

Please do get in touch if you have any queries and have been affected by any of the above.

Info@oldenpropertyconsulting.com
.
.
.
.
.
#cpo #compulsorypurchase #compulsorypurchasespecialist #affectedbycompulsorypurchase #advice #negotiation #london #southeast #tunbridgewells #kent #oldenpropertyconsulting