Wilbourn & Co
Forward thinking organisations are recognising the benefits of proactive environmental engagement. Effective environmental management is a crucial part of asset management to maintain and maximise value. This occurs at all stages of the property life cycle.
Key to unlocking value is to ensure that the acquisition report is robust enough to support the purchase price. RICS describes these as Environmental Screening Reports (ESR). The ESR is designed to address the issues raised at VPGA 2 5.3 and 6.1 (for secured lending) VPGA 8 1.2 (b) and (c), VPGA 8 2.6 (a) (b) (c) of the Red Book 2017. They feature in the new Global RICS guidance note to be published in the autumn of 2018 “Environmental risks and issues for the property professional and their clients”.
In over 20 years of practice less than on 5 occasions has an ESR produced a site investigation or Phase 2 report. Robust and thorough understanding of all the issues should not lead to expensive time consuming site investigations. An ESR will look at all of the Natural, Non Natural and Existing Use Hazards and address the valuation questions demanded by RICS.
The practice is well equipped to also offer services in support of planning applications to address the often complex conditions imposed by local planning authority’s. The National Planning Policy Framework requires that land must be in such a condition after remedial works that it can never be considered as being Contaminated Land in the future. To fulfil these obligations a full site investigation to completion report service is available.
As part of the development cycle Wilbourn & Co can support
Baseline information about the asset enables environmental management to take place and upon disposal for this to be made part of the sales pack
Taking control with positive engagement yields big benefits.