Project Matrix

Purpose

Delta-Simons provided environmental due diligence support to the Client as part of their acquisition of 33 retail logistics assets located across Germany. The sites were predominantly occupied by METRO Cash & Carry wholesale stores, 17 of which were identified to include either current or historical petrol filling stations, operated by third party tenants.

The objective of the project was to establish and assess the potential for land contamination related liabilities to be present, and to allow possible impacts to the investment to be identified.

Scope of Works

Delta-Simons worked with our in-country Inogen Associate HPC AG to deliver 33 Environmental Desk Study reports, which highlighted statutory and third-party risks at each of the sites, as well as recommendations with regards to potential contamination.

The project was completed within a five-week timeframe during August and September 2020 from initial instruction to submission of our final reports. An initial summary spreadsheet was also produced within the first two weeks to highlight any ‘red flags’ providing comfort and surety on potential risks as they were identified.

Follow-up support included providing indicative costs for site investigation and remediation for redevelopment, and review of a vendor data room to which additional information was added during the final days of the transaction.

Outcomes / Client Benefit

Following issue of our final reports, the Client was able to complete the deal (Q4 2020) and gain full ownership of the 33 assets, with commercial confidence on risks and potential costs that might otherwise impact on asset value.