Question to the Department for Transport:

To ask the Secretary of State for Transport, what the cost to the public purse was of (a) acquiring and (b) managing (i) land and (ii) property associated with Phase 2 of HS2 as of 31 January 2024; and whether he has made an estimate of potential future costs for the 2023-24 financial year.

As of 31 December 2023, a total cost of £580m was spent on acquiring both land and property on Phase 2 broken down as follows:

• Phase 2a £215m
• Phase 2b Western Leg £203m
• Phase 2b Eastern leg £162m

(including HS2 East)

Around £17m is forecast to be spent on Phase 2 land and property in the last three months of the 23/24 financial year, for the settlement of transactions agreed before the cancellation of Phase 2 announced on 4 October. The management of the land and property portfolio in Phase 2 incurred a total of £1.69m during the 23/24 financial year, which covers full portfolio management including sourcing tenants, rent collection, commercial negotiation, compliance, accounting, and surveying.

Any land and property asset that is no longer required will be sold or repurposed for Northen Powerhouse Rail, and a programme is being developed to do this. We expect much of the capital cost of acquiring these properties will be recovered when they are resold.