Slater and Gordon today urged Lytton Road residents and business owners whose properties are earmarked for resumption to ensure they understand their rights.
Brisbane City Council today announced 38 properties between Latrobe St and Canning Bridge had been earmarked for resumption as part of the Wynnum Road corridor upgrade.
Slater and Gordon Lawyer Andrew Young said property owners were entitled to fair compensation and it was imperative owners got the right information about their entitlements because the compensation available was often considerably higher than first offered.
“There are a number of factors that the acquiring authority should take into consideration when considering the compensation,” Mr Young said.
“They should consider the value of the land with its full development potential, relocation costs, the costs of buying a replacement property and any loss of business profits.
“If a property owner does not believe the compensation offered is fair, they are entitled to seek independent advice and challenge that offer.
“While people may agree with the project in principle, it can become a very emotional time when it is your home or property that is being resumed.
“That’s why it is important to ensure you have sought professional, independent advice,” Mr Young said.
Any resident or business owner seeking advice about the compulsory acquisition process can phone Slater and Gordon on 1800 555 777.