With an increasing move away from greenfield development, it is becoming more difficult for investors and tenants to avoid owning or occupying some form of potentially contaminated land. For some specialists, brownfield development is a potential commercial opportunity.
Following the introduction of contaminated land legislation, environmental auditing is an essential tool in assessing the environmental risks and liabilities associated with property ownership and development, and the due diligence transaction process. The presence of contaminated land can adversely affect site value, bring considerable financial liabilities and hinder transactions if not managed properly.
This section includes definitions, common types, sources and causes of contamination and discusses environmental, legal and practical matters relating to contaminated land. It does not deal with radioactivity.
This section is maintained by Tim Elliott CEnv FRICS of Corsair Environmental Surveyors Ltd.
RICS standards and guidance: Contamination, the environment and sustainability: Implications for chartered surveyors and their clients
Feature: Contaminated land: who cleans up?