Snow1964
Established Member
Land price depends on status, green belt, agricultural etc. Sell a field and not worth much, sell a field with outline planning permission for homes and worth lot more, maybe 50 times more.Land is surely more than that. According to Google, of the estimated final cost of HS2 Phase 1 (between £45 Bn and £57 Bn), £1.25 Bn was spent buying land in London, particularly around Euston and Uxbridge. That means that over 2% of the total cost was buying land just in London. Total cost of buying properties (plus compensation to owners of blighted properties) over the whole route is over £ 3Bn and might reach £5 Bn. Those are not trivial sums even when set against the total cost of HS2. I think we can conclude that buying is a sufficiently big part of HS2's cost to make it important to keep under control.