Property owners affected by the Aberdeen Bypass have been urged to claim for compensation by land agency firm Strutt & Parker as less than half have done so.
Transport Scotland issued General Vesting Declarations (GVD) to all affected proprietors along the route before Christmas. This formal procedure gave the government body title to the properties affected and the right to enter them and take possession. As of January, therefore, Transport Scotland owns all the land required to construct the Aberdeen Western Peripheral Route (AWPR), amounting to some 1,400 acres. This has resulted in several practical issues for a number of claimants including how they fund replacement land.
Larry Irwin, land agent in Strutt & Parker’s Banchory office, said: “There are a number of practical issues to be taken into account. However, one of the single biggest surprises is that of the 400+ affected property owners less than 50% have so far submitted their claims for advance compensation under the 90-day notice form.
“Affected owners can claim 90% of the provisional value calculated by the District Valuations Office. It is important to note that this does not prejudice any further claim negotiations. Now that Transport Scotland has title to the land in question previous owners are at a disadvantage if they do not claim as they no longer own the land or have any rights over it. They will not receive any compensation unless they submit their 90-day notice form.”
Mr Irwin said: “Given the statutory interest rate for the compulsory purchase order is 0.5% below the Bank of England base rate, the net interest being accrued is 0%. This is against business overdrafts or loans which will be in the region of 4% to 5%. Therefore, it seems sensible to claim the 90% value and negotiate further rather than delaying until negotiations are complete.”
The warning comes after it was reported that 60 horses at Blaikiewell Sanctuary in Maryculter might have to be put down because the owners are worried they will not be able to afford a new site.
For further information or advice please contact Mr Irwin in Strutt & Parker’s Banchory office on 01330 824888.