Lawyers are urging land owners affected by the Wynnum Road corridor upgrade to seek independent advice to ensure they get the compensation they are entitled to.
Brisbane City Council has projected 45 properties located along the northern side of Lytton Road to be acquired, as well as three properties which will be partial acquired, in preparation for Stage 1 works which will widen the road from four to six lanes.
Slater and Gordon compulsory acquisition lawyer David Greene said residents and business owners need to have the right information to ensure they receive fair compensation.
“This can be a very emotional time for people who are being told to leave their family home, likely well before they were planning to move,” Mr Greene said.
“It is important for land owners to understand their rights before engaging in negotiations to make sure they are not only familiar with the process, but also aware of their entitlements, which includes the acquiring authority paying the reasonable costs of legal advice and representation obtained by the land owner.
“There is only one opportunity to negotiate the price of the property so it is vital for professional, independent advice to be sought.”
Mr Greene said there were a number of factors that needed to be considered before a valuation figure is decided for the property.
“The acquiring authority should assess the value of a property according to the market value as well as other costs that are incurred as a consequence of the acquisition,” He said.
“Consideration must also be given to the value of the land with its full development potential as well as the subsequent relocation expenses and costs of buying a replacement property.
“People are often unaware that they may be able to receive compensation for additional expenses like special modifications to new homes for elderly or disabled homeowners, the cost of school uniforms if children have to change schools and economic loss from the disturbance of a business.
“If a property owner does not believe the proposed compensation is fair, they are entitled to seek independent advice and further challenge the offer.
“Having a lawyer to guide you through the process will not only alleviate much of the hassle, but will also give a property owner peace of mind that they are receiving the compensation they are entitled to.”
Please click on the following for more information on the Wynnum Road Corridor compulsory acquisition project.