Estate agent warns of devastating impact of HS2 on property

The co-owner of a local estate agency gave his expert opinion to a Parliamentary Select Committee last week (Wednesday March 11) on the ‘devastating impact’ HS2 could have on property values in the areas it touches. James Gibbs, of Gibbs Gillespie, was called in as a local property expert witness by petitioner, Mike Fosberry, who is part of the campaign to stop the multi-billion pound scheme going ahead. Gibbs Gillespie has offices in several areas potentially affected by the proposed rail link which would touch South Ruislip, Ruislip, Ickenham, Denham, West Hyde, Harefield and the Chalfonts. Mr Gibbs addressed the High Speed Rail committee led by Robert Syms MP and including Sir Peter Bottomley at the Houses of Parliament, in Westminster. Mr Gibbs said: “I was asked to give my professional opinion on the issue of property blight caused by HS2 if it goes ahead. I feel desperately sorry for people who are potentially affected. Depending on how close a property is to the suggested route deems it unsellable or having up to 50 per cent reduced from its usual value. “The level of compensation currently being offered is woeful and needs reviewing.  Compulsory purchases currently do not take into account any of the other moving