Originally Posted by
AK1
These people aren't only offered money, they are also offered new premises. The reason they are
offered a pittance is because their properties are only worth a pittance, although I wouldn't call £120,000 a pittance when they are also being offered
alternative premises aswell!
I don't know the details of the Lime St. offers but don't expect they differ too much from those in other areas.
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Admittedly the offers to businesses have not been as derisory as those to individual homeowners. This is a case I know of from the Kensington area - offered
£38,000 - independently valued at £59,000 - eventually settled at £58,000 - had to pay £89,500 for another property - result £31,500 out of pocket.
As
to properties only being worth a pittance - that in many cases results in a large part from the regeneration activity itself.
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