Environmental Risk / Transactional Liability
Fire Risk Assessment and annual audits of behalf of Corporate Residential Management (CRM)
2008 - 2013
Hidden environmental risks associated with property acquisition can result in substantial and unexpected costs, and also impact business performance and/or the future saleability of a property.
Ground contamination issues are an obvious concern and are typically associated with historical land uses on-site or current operational practices (e.g. industrial legacy, bulk fuel storage and landfilling) but can also be a result of activities in the surrounding area.
Under Part IIA of the Environmental Protection Act 1990, where the past polluter cannot be identified, the owner or occupier of the property can be held responsible for any previous ground contamination.
This can result in third party liabilities or regulatory action, which may involve substantial remedial costs and reputational risk/damage. In addition it can affect the ability of a tenant to maintain their lease or impact the investment value/saleability of the property.
Other environmental issues can include flooding, asbestos, invasive plants (e.g. Japanese Knotweed) and industrial permitting issues. RPS has provided specialist advice across the UK and Europe of the identification and management of these issues for over 40 years.
RPS is involved with hundreds of transactions annually ranging across various sectors, from residential housing stock, commercial offices and hotels, industrial sites (e.g. engineering works, garages, and gas works) to landfills and general Brownfield sites, both on a single site and portfolio basis.
RPS is also a panel advisor to all major high street banks and satisfies commercial lending for property acquisition and/or development. The RPS approach enables risks to be managed in a commercial and cost effective manner, and can convert potential liabilities into business opportunities. Our advice is backed by the assurance of a FTSE 250 company with over 4,500 staff located in over 90 major towns and cities worldwide.
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