Environmental Assessment, Holborn, London

Purpose

Delta-Simons were delighted to provide environmental due diligence supporting this £245 million acquisition. With a tight timeframe and variety of asset types, our team enjoyed demonstrating our ability to take on, and close out, large instructions within a short timeframe.

Scope of Works

Delta-Simons successfully delivered the following scope of works:

• 32 Phase I Environmental Assessments and an executive summary report of the portfolio, covering a variety of assets across the 2.5-acre freehold estate, including commercial properties such as shops, pubs, restaurants, and a number of offices. Among these assets are several Grade II/II* listed buildings
• Highlighted statutory and third-party risks at each of the 32 sites, ultimately allowing financial and technical risks associated with the acquisition to be determined and overall impact to the investment to be identified
• Completed this within a three-week timeframe from initial instruction to final report issue

Outcomes / Client Benefit

The objective of the work was to establish and assess potential environmental risks and liabilities associated with historical land uses, both on-Site and in surrounding areas, as well as identifying potential impacts as a result of tenant activities.

Following issue of our final reports, Tristan Capital Partners and Cording Real Estate Group were able to complete the deal and gain full ownership of the 32 assets to the satisfaction of all stakeholders.