Storage Warehouse, Manchester

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.  

Key details

Project name 

Storage Warehouse

 

Client

Confidential

 

 

Location

Manchester, UK

 

Services provided

Environmental due diligence (Phase 1 Environmental Survey, regulator negotiation, recommended lender actions)

Challenge

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. 

Exterior of logistics warehouse with distribution lorries

Solution

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.  

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. 

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