LDA updates on compensation for Olympic landowners

As promised, I have obtained an update from the London Development Agency about current process on compensating businesses forced to relocate to make way for the Olympics developments in east London.

In all fairness, the LDA’s ever helpful press office Rob Beasley came to me with the information before I had picked up the phone.

Of the 400 claimants totalling 193 businesses affected, the LDA has now settled with 300. That means there are now 100 still negotiating settlement. Of these the LDA expects that around 20 will not come back to the table and will accept the payment that has already been made.

As Rob pointed out: “This process does take a while.”

And of course the outcome of Rooff’s appeal over the valuation of its land could change discussions again. For more on this case read here.

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About Paul Norman's Olympics blog

News Editor of CoStar News, a commercial property news service. Regular blogger on the London 2012 Olympics and what it means for property and the the regeneration of East London
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