The Beaches Link tunnel will have 54 properties in Artarmon, Balgowlah, Seaforth, Killarney Heights, and Frenchs Forest purchased under compulsory land acquisition legislation to make way for the construction. Despite the uncertainty, Transport for NSW has already bought a significant number of the impacted properties.
The advantage to the owners of selling now voluntarily to Transport for NSW is that they can still obtain the benefits under the Just Terms Act and move elsewhere. Given that they would not be able to sell their property on the open market for a fair value, it allows residents to decide if they prefer to remove any uncertainty and relocate. The Just Terms Act allows for all stamp duty costs to be paid on the new property, and all costs associated with relocating. In addition, it allows for the market value to be the fair market value as if it were not impacted by the project.
FM Legal has extensive experience practising in the area of compulsory acquisition law. This firm has already acted in many cases and assisted impacted owners in being relocated, despite the project’s uncertainty. We continue to support clients through the complex process of compulsory acquisitions, ensuring their rights and interests are protected.
For more information on how FM Legal can assist with
compulsory acquisition projects in Sydney, contact us to arrange a consultation.
