Phase 1 risk assessments and other targeted reports for finance
Reports for finance are required by:
- Valuation Surveyors to meet RICS professional standards and guidance for both real estate and development
- Conveyancing solicitors to comply with Law Society Practice Notes
- Prudent purchasers prior to property acquisitions
These reports often follow on from a Siteguard, Screening or Review report where further assessment is required. The need for further assessment arises from significant potential for environmental costs to be associated with the property and additional detail will provide better clarity. Depending upon the report, a specific area of uncertainty may have been identified and, where possible, a suitable report to address the issues would be provided. This provides a cost-effective solution to resolve concerns. Alternatively, a full Phase 1, covering all aspects, can be provided.
A Phase 1 includes:
- Detailed review of all available historic and environmental data in the full Groundsure Insights Pack (Map, Enviro and Geo reports)
- Site walkover by a suitably qualified and experienced consultant
- Consultations with relevant environmental regulators
- Simplified qualitative risk assessment for the property known as a Conceptual Site Model (CSM)
- Assessment of liabilities associated with the operation and maintenance of permits and licences
- Recommendations for mitigation actions and costings, where appropriate.
The report will seek to identify potential for significant financial liabilities relating to:
- Historical contaminated land (Part 2A of the Environmental Protection Act 1990)
- Potential issue relating to development or the site in the last 10 years or proposed development (Planning conditions)
- Permits, licences and exemptions (various legislation including Environmental Permitting Regulations, Statutory Nuisance and Environmental Damage Regulations)
- Discounted where an initial Groundsure environmental search report has been procured
- Includes a complete Groundsure Insight Pack and Planning Report
- Review of site specific requirements by a qualified and accredited consultant
- Should they be required, Groundsure can provide Phase 2 intrusive investigation, mining risk assessment, flood risk assessment and other follow on services in support of planning.