Be it a domestic, commercial or industrial property, once you buy it, you own the environmental liabilities associated with the property. We can give you peace of mind by taking away the worry of any environmental risks relevant to the property so you can confidently go ahead with the purchase with out any doubts.
Bob buys a 10,000 m2 of land in the western suburbs of Sydney with an intention to sub divide and sell the individual lots. Upon completion of the deal and Bob went to the local council for approval to subdivide. Council asked Bob to undertake soils assessment as per the regular procedure. The assessment identified that soils contained elevated levels of pesticides (above the residential criteria), as this land was used for agricultural purposes in the past. In addition, an old shed was demolished with asbestos fragments buried under the topsoil, which wasn’t identified during the pre-sale walk over.
It is now Bob’s responsibility to clean up the contamination prior to sub-dividing. If Bob had known this contamination issue earlier, he would have negotiated with the seller or might not have bought the property.
A reputed developer bought four parcels of land measuring 7000 m2 total, with an intention to build 200 apartment units and a playground with a childcare centre within the complex. Historical uses of the parcels included a service station, mechanical workshop, car showroom and some residential buildings. Due diligence was undertaken by a reputed Consultancy which identified some contamination issues relevant to asbestos, hydrocarbons and heavy metals. The builder perceived that all environmental risks were identified and negotiated the deal before buying the land.
Upon the commencement of excavation works, the bulk earth works contractors struck an underground storage tank and more asbestos fill, up to a depth of 6 metres. Now, that is a surprise. It costs additional resources to clean up the soil before any further construction works can proceed and it takes time for remediation and rectification of contamination.
If the preliminary assessment had been thorough and detailed, then the developer might have negotiated with the seller or might not have bought this property at all.
Consultants at K2 Consulting Group are well versed with due diligence assessments and understand Client’s requirements. Our assessments are thorough and quick, to assist you in the process of making an informed decision to buy a property.