Trusted media brand of the Chartered Institute of Housing
Trusted media brand of the Chartered Institute of Housing
Reforms to remove ‘hope value’ from Compulsory Purchase Order calculations proposed under shake-up
The government has published its proposals for changing compulsory purchase order (CPO) powers to allow councils to buy land for development at a lower price.
In a consultation paper today, the Ministry of Housing, Communities and Local Government set out plans aimed at making it easier for councils, combined authorities and other bodies, including Homes England, to buy vacant land from landowners.
Under the proposals, public bodies will not have to pay ‘hope value’ costs – which include an estimate of what the land could be worth if developed on in the future – if the development is in the public interest.
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