A Wayleave is a legal agreement granted by a landowner to the Distribution Network Operator (“DNO”) that permits them to retain in place their equipment on the property for the duration of the agreement.
It is often the case that homeowners have no existing agreement. Where properties are impacted by electrical equipment, it is often possible to agree a new wayleave agreement either in exchange for an annual payment or in many cases for a fixed term. In Thomson Broadbent’s experience, even if a homeowner has an existing annual agreement in place, it is often possible to ‘capitalise’ or even increase the value of the payment received from the DNO.
Wayleave agreements are not binding on any future owners of the property. This means that if the owner were to sell or pass the property on to anyone else at any point during the duration of the agreement, it would automatically expire. The new owner would then have the ability to enter into a new agreement, in their own name.
The financial consideration for entering into a wayleave agreement can vary based on several factors including, the type and impact of the equipment, including the voltage that it operates at and the proximity to the main residence. In some cases, we can negotiate a payment that also takes into consideration the value of the property in question and in others we are able to agree enhanced rates.