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.
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