Our client was approached to provide funds to support the purchase of an owner-occupied storage warehouse. They appointed our environmental due diligence team to establish if any significant environmental risk factors may impact the land or property value, affecting its acceptability as a lending security. Â
Project nameÂ
Storage Warehouse
Â
Client
Confidential
Â
Â
Location
Manchester, UK
Â
Services provided
Environmental due diligence (Phase 1 Environmental Survey, regulator negotiation, recommended lender actions)
Within a limited timeframe, we needed to tackle a high-level environmental report that identified a ‘moderate-high’ risk of contamination at the site associated with historical operations. After handling legal matters, we worked on identifying and addressing the environmental risks to ensure the loan was approved and the acquisition could progress.Â
Using our expertise in environmental liability assessment, we analysed environmental data and historical ordnance survey (OS) mapping. We established the potential contaminative risk related to infilled land and a landfill. By conducting searches with the Planning Authority, Environmental Health Officer and the Environment Agency, we gathered information on the landfill involving contents, age and monitoring undertaken. When coupled with a site inspection to identify any evidence of ongoing risks from this source, we were able to evaluate the possibility of an environmental liability arising at the site of its ongoing use. Â
By identifying the specific risk and gathering targeted data to address this, we determined whether the site was acceptable as a lending security for the client and facilitated a smooth transaction.Â
Your contact information:
All fields are mandatory *
RPS is committed to protecting and respecting your privacy. We will only use your personal information to administer your account and to provide the products and services you have requested. We would also like to contact you about our products and services, as well as other content that may be of interest to you.
Your contact information:
All fields are mandatory *
RPS is committed to protecting and respecting your privacy. We will only use your personal information to administer your account and to provide the products and services you have requested. We would also like to contact you about our products and services, as well as other content that may be of interest to you.