Whether road, rail or aerodrome our expert Valuation Surveyors have the skills to assist
Our Valuers appreciate the sensitivity and fractious nature when a home or business is thrust into a compulsory purchase situation. Progress for one is pain for another. Our experts cover not only valuation assuming a 'no scheme world' of the property, buildings or farm land as well as the 'going concern' value for the trading business and in some cases total extinguishment of the business. And for both home owners and businesses alike the disturbance cost of relocating or moving on.
Valuations for statutory compensation
Compulsory purchase…… Where a property is affected by a compulsory purchase order, for road, rail, aerodrome or inner-city redevelopment, the Chartered Valuation Surveyor needs to ensure that evidence gathered reflects the ‘no scheme world’ and is not tainted by ‘blight’. Otherwise compensation negotiated would be reduced because local market values may well have taken into account a ‘possible scheme’ long before the actual scheme is confirmed by government. For home owners and businesses compensation due will include ‘disturbance’ (costs flowing from the compulsory purchase order).
A valuation for statutory compensation is a valuation to assess how much would be due to a land or property owner who is to be dispossessed of their land or property due to a compulsory purchase order, or a valuation to assess the impact of a road, aerodrome, rail or other public infrastructure development nearby to their property, ie, the worsenment in terms of noise, vibration, pollution etc.. that would lead to its value rising less in the future than if the infrastructure scheme had not gone ahead, the technical term for this is ‘dimunition in value’ or ‘injurious affection’.
This area of valuation expertise covers 2 scenarios:
Residential property acquisitions….
Commercial compulsory purchase situations….
Schemes that Ringley have been involved in:
Ringley have assisted hundreds of clients affected by the M20, A249, M25, M40 and A406 road widening and new road projects.
Involvement in inner city redevelopment has included the Marquess Estate in Islington N1 as well as around Greenwich and the Blackwall tunnel.
If you are worried about a compulsory purchase order
or rumours of one then contact a Ringley Valuer now