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Case Studies

Audit of Frankfurt Property Portfolio

Client: Confidential International Investor
Description: Portfolio of six commercial and residential properties in Frankfurt, Germany
Comments:

The client required pre-acquisition environmental due diligence assessments of each property within a very tight timescale.

Critical factors for the client were timely delivery of the results and understanding of local environmental legislation. The project was undertaken as a combined technical and environmental due diligence assessment and identified asbestos and contaminated land issues, the cost implications of which were included in the deal negotiations.

Project value: €63,000

Audit of Paris Commercial Complex

Client: Confidential International Investor
Description: Office and Laboratory Facility, Paris
Comments:

The client required a combined technical and environmental pre-acquisition due diligence assessment of five buildings used for offices and a research laboratory. The property also included underground car parking.

The site was located in a flood risk zone and implications for buildings insurance had to be quantified.

Project value: Confidential

Audit of Hamburg Industrial Warehouse Facility

Client: European Investment Fund
Description: Distribution warehouse facility, Hamburg
Comments:

The client required a combined technical and environmental pre-acquisition due diligence assessment of a major distribution warehouse and office facility in Hamburg, Germany.

The environmental assessment addressed issues of contaminated backfill materials.

Project value: €17,000

Audit of Office Complex, Barcelona

Client: Trans-Atlantic Investment Fund
Description: High profile office complex, Barcelona
Comments:

The client required a combined technical and environmental pre-acquisition due diligence assessment of a high profile office complex of three buildings and underground parking. The complex was built on a former industrial facility, in a key area of urban regeneration and had previously been subject to transaction difficulties.

The environmental assessment addressed issues of contaminated land, licensing and groundwater management problems.

Project value: €16,000

Pre-acquisition audit of UK-wide portfolio

Client: Property developer
Description: UK wide environmental audit
Comments:

The client required pre-acquisition environmental due diligence guidance within a very tight timescale. The timeliness and accuracy of the information were critical given that the client had a deadline for tabling an offer.

The job included audits and inspections on ten industrial sites across the UK, a number of which had long industrial histories and were known to be potentially contaminated.

Pre-acquisition audit on warehouse

Client: Owner-occupier
Description: Environmental Audit
Comments:

The client required a pre-acquisition Environmental Audit of a warehouse property within the Republic of Ireland.

The job involved a site inspection and significant consultation with the Regulatory Authorities as a result of the former presence of a factory at the site.

Audit on battery manufactory

Client: Vendor
Description: Environmental Audit
Comments:

The client required an Environmental Audit of a vacant battery manufactory in Northern Ireland prior to agreeing terms to lease the site.

The site inspection and the full Environmental Audit report were completed within one week of instruction as a result of the client’s tight deadlines.

The resulting information helped support details of the negotiation.

Pre-acquisition audit on retail warehouses

Client: Retail Property Developer
Description: Environmental Audit
Comments:

The client required pre-acquisition Environmental Audits of ten ‘cash and carry’ warehouses located across England and Scotland.

The job involved consultation with Petroleum Licensing Officers as a result of the former presence of petrol stations at many of the properties.

Audit on Hotel property portfolio

Client: Property Investor
Description: Environmental Audit
Comments:

The client required eight Environmental Audits and 32 Desktop Environmental Audits of hotel properties situated across England, Wales and Scotland in connection with a sale and leaseback agreement.

Retail distribution depot

Client: International Asset Manager
Description: Environmental Audit
Comments:

The client required a vendor’s survey of an 8.7 hectare retail distribution depot located in England.

The site inspection identified the presence of a number of fuel above ground storage tanks. On site documentation revealed a fuel leak had occurred and the Environmental Audit report provided a review of investigations that took place following the incident.

Pre-acquisition audit on commercial property portfolio in Germany

Client: Major Property Developer
Description: Environmental Due Diligence
Comments:

The client required a pre-acquisition Environmental Due Diligence exercise to be carried out on 29 commercial properties situated across Germany.

The job involved the review of Environmental Due Diligence reports provided by the vendor. Recommendations for further enquiry and investigation were provided to the client to address issues highlighted by the vendor’s reports.

Development monitoring on remediation programme

Client: International Funder
Description: Environmental development monitoring
Comments:

The client required development monitoring advice to ensure that the external environmental consultant followed the agreed remediation programme, within cost and most importantly, within timescale.

The job included the monitoring of significant in-situ treatment of various contaminants. Subsequently, the development was undertaken over a six- month period and works were completed within the development budget.