Colman Coyle has recently accepted instructions to act for various long leaseholders (both residential and commercial) concerning potential Compulsory Purchase Orders (CPO’s) relating to the proposed re-development of the Triangle Estate, Goswell Road, EC1.
The proposed redevelopment of the Triangle Estate includes the demolition of 6 dwellings together with the central podium and garages together with certain retail units. The proposal includes the construction of 54 new dwellings with private amenity space and additional retail floor space.
Compulsory purchase is the legal function that allows certain public bodies to acquire land, for a specific purpose, if the land owner is not willing to sell by agreement. The powers to acquire land or rights over land for a particular purpose are set out in various Acts and can involve complex considerations.
Persons with an estate or interest in land that is acquired compulsorily have a right to claim compensation. The three main elements of compensation relate to the open market value of the land taken, any loss caused by losing possession of the land (known as disturbance compensation) as well as any compensation for damage to any land that is retained by the affected party.
Colman Coyle are regularly instructed in relation to matters arising out of CPO’s and in the event that you require any advice and assistance as to developments affecting your property or business, please do not hesitate to contact Neil Curbison on 020 7354 3000.