UNITE – Curzon Gateway
BNPPRE were able to advise their client on a prime investment site which had been suddenly blighted by HS2.
The client’s investment arm had therefore refused to take the property into the investment portfolio – leaving the property within the management portfolio and in an ‘un-saleable’ category on the company’s books.
The property was subject to debt funding which was due for review.
We advised the client in terms of the Consultation processes and options potentially available under the Compensation Code and Statutory process.
We sought out meetings with HS2 to open a dialogue regarding the impact on our Client’s property and to seek a potential pre-CPO conditional settlement and mechanism which would adequately reassure both the client and the debt funding institution that the compensation would be fair and certain whilst enabling the client to continue operating the facility for its student customers until such time as HS2 required entry for their project.
With the assistance of the client’s finance and management teams and legal advice, Heads of Agreement have been secured to fix compensation and enable continued operation of the student lettings until HS2 require entry for demolition.
“"Our Client had a prime investment suddenly blighted by the prospect of demolition for HS2"“