Pre purchase environmental survey
Our client was interested in the purchase of a large distribution centre, located in Daventry. Environmental reports had already been completed by a third party as part of the sale process and our client asked us to undertake our own environmental review of documentation and the site setting to fact check the findings of the sell side report.
Key details
Project name
XPO Logistics
Client
Logicor, via Savills
Location
Daventry
Services provided:
- Phase 1 Environmental Survey
Challenge
Following instruction, we were required to complete the environmental diligence process within two weeks. This proved to be a challenging timescale as regulatory searches were also required which often take far longer than the time allowed. Additionally, our team were particularly busy but worked together to produce a resource plan for the works.
The principal aim of the review was to determine whether there was potential for ground contamination to be present which could significantly constrain the use of the site, or give rise to the risk of significant environmental liability (including bodily injury, property damage, operational losses, regulatory or third-party action, reputational damage or blight).
Solution
We worked closely with our client and their agent to arrange a convenient timescale for the site inspection and to review pre-commencement documentation including a virtual data room (VDR). Following instruction, we also made direct contact with environmental regulators to expedite the information searches.
Once we had reviewed the pertinent information for the site, we provided our client with a clear, commercially focused Environmental Liability Report which contained a concise summary of our findings and recommendations for taking the acquisition forward from an environmental liability perspective.
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