The HS2 Ltd Property Empire

A Freedom of Information Request has revealed that HS2 Ltd has so far made £9.1m out of rentalincomerenting properties which it has bought, with £5m f that figure coming in the last year. Of 400 homes which they have bought, 363 are currently being rented out. It is not known however how many of these are being rented back to the original owners, but it is expected that these make up the majority of the increase seen this year.

Although it has to be taken as a positive that the company is renting out homes instead of leaving them boarded up, the reality is that many will be occupied by people who have lived there for years, preparing for their last Christmas in their family home, as they have now finally sold up, wishing to get out before construction on Phase 1 starts.

Joe Rukin, campaign manager for Stop HS2, said: “We know from long experience that HS2 has significantly undervalued property, with a policy of using valuers who are not from the local area. The same properties are then leased out for a nice profit.”

No related content found.

Share Button
Share this...
Share on FacebookShare on Google+Tweet about this on TwitterPin on PinterestShare on LinkedInEmail this to someone
One comment on “The HS2 Ltd Property Empire
  1. Surely this is an incomplete picture
    Purchase finance costs
    Maintenance costs
    Letting agency costs
    One off costs to prepare property for rental
    Etc etc
    Like all things to do with hs2 it’s all smoke and mirrors

Comments are closed.

2010-2017 © STOP HS2 – The national campaign against High Speed Rail 2