Assisting Homeowners Impacted by the Heathrow Third Runway Proposals
if you are AFFECTED BY the heathrow third runway proposal, OUR QUALIFIED TEAM OF RICS CHARTERED SURVEYORS ARE READY TO SUPPORT YOU!
heathrow third runway -HOW CAN WE help?
Olden Property is a firm of chartered surveyors and RICS-registered valuers, specializing in helping individuals affected by compulsory purchase. Director Tom Olden personally oversees every case, providing a consistent point of contact and expert guidance throughout the entire process. From the beginning, Tom ensures all key aspects of the process are clearly explained, eliminating any confusion. He firmly believes that homeowners and small businesses deserve the same high level of valuation and negotiation expertise as larger institutions, and he is dedicated to ensuring his clients achieve fair outcomes.
If you're facing compulsory purchase, it's essential to seek expert advice early to fully understand your rights, including your rights to object and claim compensation. Importantly, the costs of professional advice should be covered by the council or developer, not by you. If you choose us to represent you, we will ensure the council or developer provides written confirmation that all surveying and legal fees will be covered before any work begins.
The Third Runway proposals seem to be on hold at the moment, as there has been no recent progress from Heathrow.
As part of the Heathrow expansion plans, they have created a series of discretionary property compensation schemes, which include The Interim Property Hardship and the Statutory Blight Schemes.
The Interim Property Hardship Scheme is designed for eligible property owners who have an urgent need to sell their property but have been unable to do so, except at a significantly reduced price, due to the Heathrow Expansion Project plans.
To qualify for a property purchase by Heathrow under this scheme, applicants must meet ALL of the following criteria:
Qualifying interest
No prior knowledge
Proximity
Efforts to sell
Hardship
More details of the Interim Property Hardship Scheme and how you can apply can be found HERE
Statutory Blight
Statutory blight occurs when the value of residential, agricultural, or small business properties (with an annual rateable value under £44,200) decreases due to large-scale or major development proposal making it challenging for owner-occupiers to sell at market value.
Planning laws provide a process that allows property owners, unable to sell except at a substantially reduced price, to issue a blight notice. If property owners meet statutory requirements, they may be able to have their property purchased by the relevant authority.
Entitlements for Eligible Property Owners if a Blight Notice is Accepted
If a blight notice is accepted, the property would be purchased, and the owner would be entitled to:
The unaffected open market value of the property;
A property loss payment as legislated, calculated based on the property’s current use:
Stamp duty costs on purchasing a replacement property of an equivalent value;
Reimbursement of reasonable legal fees, moving costs, and other disturbance expenses in line with statutory compensation guidelines.
Anyone considering submitting a blight notice must follow all legal requirements for its content and delivery. Olden Property can help advise on Statutory Blight so do get in touch.
You can find more information on Statutory Blight HERE
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