Construction continues on the HS2 high-speed railway site at Curzon Street in Birmingham, Britain, on October 1, 2024. REUTERS/Toby MelvilleCredit: ReutersTaxpayers are facing a £10.2 million bill for the sale of surplus properties purchased for the now-cancelled northern section of HS2.
This amount will cover legal and administrative costs incurred by estate agents and land brokers.
Officials are seeking to recover the £587 million that was spent on acquiring these properties.
John O’Connell from the TaxPayers’ Alliance stated: “Taxpayers are being burdened with yet another bill due to this debacle.”
“After spending hundreds of millions on properties for a line that will never be constructed, officials are now spending millions more just to rectify their own mistakes.
“This disastrous project has already cost the public significantly; ministers should ensure that every penny possible is recovered and that nothing like this mismanagement occurs again.”
The Department of Transport has initiated the search for estate agents and land brokers to manage the sale.
According to the regulations, previous owners will have the opportunity to repurchase their properties at current market value, officials noted.
A spokesperson for the Department for Transport commented: “While property sales inevitably involve legal and administrative costs, we are committed to maximizing the amount taxpayers can recover from the sale of these properties.”
They also mentioned that care would be taken to avoid overwhelming local markets with properties, which could affect prices.
Sections of HS2 were cancelled in 2023 and 2021, respectively.
Taxpayers are facing a significant expense for the sale of surplus properties acquired for the cancelled section of HS2Credit: Reuters
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Frequently Asked Questions
What is the total cost taxpayers are facing for the HS2 project?
Taxpayers are facing a £10.2 million bill for the sale of redundant properties associated with the cancelled northern section of HS2.
What will the £10.2 million bill cover?
The bill will cover legal and administrative costs incurred by estate agents and land brokers involved in the property sales.
What is being done to recover the funds spent on acquiring these properties?
Officials are actively seeking to recover the £587 million spent on purchasing the properties by engaging estate agents and land brokers for the sale.
