Partner Article

Grant Thornton hosts HS2 seminar

Following the recent announcement of the preferred routes for HS2 Phase 2, accountancy firm Grant Thornton, together with leading international property adviser BNP Paribas Real Estate and North West law firm Brabners Chaffe Street, is hosting a seminar at its offices for businesses and investors who will be affected by the scheme.

With the ‘Y’ routes north from Birmingham to Manchester and Leeds, with proposed stops at Sheffield Meadowhall, Toton, Crewe & Manchester Airport, now revealed, the seminar will provide guidance and advice about how to respond to the forthcoming consultations and how to protect interests in the shadow of any impending compulsory purchase.

Aimed at organisations, businesses and landowners concerned about the effect that HS2 will have on their properties and businesses, expert speakers include Chris Selway, head of compulsory purchase at BNP Paribas Real Estate; Iain Johnston, partner and head of planning for Brabners Chaffe Street; and Alison Ewing, associate director in Forensic Accounting at Grant Thornton.

Speaker Chris Selway, who has 34 years’ experience in the property industry specialising in CPO and the rail sector, commented: “HS2 Phase 2 is coming, so seek professional advice and check how you are affected. If you are affected, contact HS2 and respond to their consultations over the next 18 months.

“It is crucial to formulate your strategy to protect your position – keep formal notes and monitor property values. Don’t stop repairs or redecoration and maintain your property’s value. I would also advise owners to keep detailed records of expenditure, losses or write downs,” concluded Selway.

As well as keeping businesses up to date with the latest information, the seminar will help them to plan for the impact the scheme will have on their strategic and financial planning over the next few years. It will specifically look at: the procedural and parliamentary timetable for implementation of Phase 2; the Safeguarding & Compensation Consultation process; the potential for early agreement with HS2 Ltd; advice on compensation rights including financial aspects of CPO; and financial information to retain and why tax is important.

HS2 is happening – with the Hybrid Bill for Phase 1 intended to be laid before Parliament this October, the HS2 property team is already conducting early acquisition negotiations to secure key properties which stand in the way of the scheme. Phase 2 is sure to be implemented quickly as lessons learned from Phase 1 will inform the process and set precedents for dealing with Phase 2 claimants.

The seminar will take place on Wednesday 27 February from 12.30pm (registration from 12 noon) at Grant Thornton’s offices at No 1 Whitehall Riverside in Leeds. To reserve a place, please contact Dawn Lockwood on 0113 200 21721 or dawn.a.lockwood@uk.gt.com

This was posted in Bdaily's Members' News section by Grant Thornton .