Client: London Development Agency
We are currently advising the London Development Agency on a number of claims across the 2012 Olympics and Paralympics site in east London. The properties concerned are predominantly industrial buildings, industrial land, development land, advertising hoardings and waterways.
The first stage of our involvement was to produce a report to the International Olympic Committee (IOC). Written on behalf of the RICS, the report critically appraised the LDA’s approach to land acquisition and compensation. It required us to interview principal personnel at the LDA, alongside an analysis of its supporting documentation when reporting to the IOC.
The second stage required us to deal with a cross-section of compensation claims. This included providing estimates of compensation and negotiating compensation claims in advance of, and following, the implementation of the CPO. This required valuations of property interests and negotiations with occupiers in relation to business disturbance. As they involved one of the UK’s highest profile developments, these negotiations required a significant degree of sensitivity.
Subsequent work has included hands-on preparation for obtaining possession from current occupiers by checking the extent to which businesses can give up possession on the required date, and undertaking inspections when possession is taken.
At the same time, our agency team is retained by the LDA to provide a monthly schedule of available properties within a specified radius of the site, to assist displaced occupiers in finding alternative accommodation.
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