Garden Centre Retail Portfolio
In 2016, a leading property investment company was seeking to acquire a portfolio of garden centre sites, located across the UK from the south of England through to northern Scotland and Northern Ireland. RPS was instructed to visit 29 sites across the UK to help understand potential environmental liability risks associated with the land-holdings and to verify environmental due diligence information supplied by the vendor.
Key details
Project name
- Garden Centre Retail Portfolio
Client
- Property Investment Company
Location
- UK
Services provided
- Pre-acquisition Environmental Due Diligence
Challenge
The period of due diligence needed to be completed within a month, requiring RPS to not only mobilise quickly, but to also deliver our reports and advice to a strict deadline. The distances between sites and site management availability presented additional challenges.
Solution
RPS quickly established a schedule of site visits with the target’s management and included weekend visits so that all sites could be visited consecutively and efficiently. With the exception of one site in Northern Ireland, all mainland UK sites were visited by a single due diligence practitioner over 9 days, which resulted in a close understanding of the portfolio, flexibility of approach and consistency of reporting for the client. The programme was subsequently reported on schedule and to agreed budget.
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