Industrial Property Portfolio Assessment:
GroundSure was engaged by the client, an industrial investment fund and their investment bank, to undertake environmental due diligence on a subsection of the client’s overall property portfolio. Twelve months previously environmental due diligence had been undertaken by another consultant on the total portfolio in order to facilitate financing arrangements. Environmental risks identified at that time remained outstanding and now represented a significant issue as recommendations of the previous reports had been included within the facility agreement to be completed within 12 months. Perceived environmental liabilities now represented a material threat to the continuation of funding.
GroundSure assisted the client by reviewing the previous environmental due diligence; updating that information with reference to GroundSure databases and presented a refined environmental risk assessment focusing on lender liability.
The commerciality of the GroundSure approach and differentiation between lender liability and that of the client, ensured that the revised environmental due diligence facilitated rather than obstructed the lending arrangement.
Petrol Filling Stations and Fuel Depots Across the UK:
GroundSure has provided environmental liability advice to clients on petrol filling station properties for a variety of purposes across the UK. These projects have included the following scenarios:
- Pre-acquisition due diligence of operational forecourt sites for client operation including site investigation, audit of site operations, etc and associated funding and investment strategies
- Pre-acquisition due diligence of forecourt freehold with incumbent tenant operation under lease agreement
- Pre-acquisition and decommissioning risk assessment and thereafter remediation advice to the client for redevelopment of a former petrol retail forecourt and vehicle service depot for mixed use commercial and residential development
- Lease surrender and dilapidations assessment for an industrial / fuel storage depot
- Risk Assessments for road haulage logistics business portfolios including logistics hubs and fuel depots and consideration of spillage remediation and validation
Site Investigation of Redundant Chemical Works:
GroundSure continues to be retained by its developer client with regard to a mixed use development scheme located on a former chemical works and associated surrounding land. Areas of significant ground and groundwater contamination have been identified and GroundSure continues to assist its client in the detailed risk assessment and range of remedial solutions required to satisfy both the local authority and the Environment Agency.
GroundSure’s role has also been to provide critical review of the potential remedial cost ranges and variances in order to assist the client in securing appropriate funding for the scheme.
Environmental Due Diligence in Poland:
GroundSure provided environmental due diligence services to an international investment bank in respect of the financing of a transaction in Poland worth €75million. The project related to a major headline city centre development with multiple use and occupancy. GroundSure was able to deploy consultants to site, engage with all appropriate environmental regulators and report back to the client within a 5 day timescale that was critical to the client’s requirements.
For more information on these case studies or GroundSure's commercially astute environmental solutions, please contact us on 01273 819500 or email info@groundsure.com
