The Winstanley Estate regeneration scheme is being undertaken by The London Borough of Wandsworth. The Council is currently negotiating to acquire property on the estate by agreement with leaseholders. In the unlikely event that the Council purchases every flat, they have confirmed they will then use powers of compulsory purchase to acquire property.
Olden Property Consulting can assist you to ensure you receive the true market value of your property and the correct level of statutory compensation you are entitled to. Olden Property Consulting is a chartered surveying firm qualified to provide advice specifically dedicated to those affected by compulsory purchase. Tom Olden, Principal at Olden Property Consulting has over fifteen years’ experience advising clients on various compulsory purchase orders.
Over the past eighteen months Tom has advised more than twenty leaseholders on the estate in relation to the sale of their Property back to the Council. We continue to advise leaseholders who do not want to sell at this stage and have either expressed an interest in objecting to the compulsory purchase order or simply awaiting the order.
The key to ensuring fair compensation is achieved is with the use of and adjustment of the best comparable evidence available. The application of this evidence and a clear understanding of the compulsory purchase code.
The cost of providing surveying advice to leaseholders in dealing with a CPO is paid for by the Council, there is a statutory obligation on them to do so. Therefore, any advice provided to you by Olden Property Consulting will not be paid for by you but the Council on completion.
Olden Property Consulting can outline exactly what your entitlement to compensation is and working with you negotiate the best settlement on your behalf. It is also important if you do plan to sell back to the Council, when is the best time to do so to ensure you achieve the best value for your property and reinvest/relocate prudently. The coming twelve months could be very important in this regard.
If you have been affected by a regneration project or know anyone that has been affected by CPO then please feel free to get in contact. Also, we will be holding regular free online seminars for leaseholders affected by compulsory purchase in the coming months, please get in touch if you are interested in attending.