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Case

Studies.

 

A private sector client required assistance with the sale and leaseback of a c.9 hectare bulk liquids storage, blending  and distribution terminal in Essex, UK.

 

The primary objective of the project was to identify and address key environmental issues and demonstrate appropriate management of the site for continued use as a bulk fuel depot.

 

The project and was particularly complex due to historical legacy issues and the diverse range of operational and permitting aspects of the site.  

 

Our London based team worked in close collaboration with  site management, specialist contractors, a legal team and various environmental regulators over a six month period to demonstrate the acceptable overall condition and environmental performance of the property.

 

A key part of the project was the design and  implementation of a multi-element environmental betterment / improvement programme to address a variety of infrastructure upgrade works and on-going management of land quality issues etc.

For further information on our Environmental Due Diligence Services click here.

Service

Vendors Environnemental Due Diligence

Sector

Logistics / Petrochemical

Location

UK

We provided environmental due diligence services to support  the acquisition of the prestigious Shell Mex House in Central London by a US based private equity firm.

Our review of the property focused on identifying potential key material (“red flag”) issues, with our findings presented together with an assessment of potential risks and a commercial opinion within a bespoke reporting format.

Our London team is experienced in responding swiftly to short DD timeframes, and were able to complete the review and provide the necessary comfort to our Client to ensure a successful completion of the acquisition. For further information on our Environmental Due Diligence Services click here.

Service

Environmental Due Diligence

Sector

Commercial / Office

Location

UK

We were appointed by a multi-national hotel operator to assist with the acquisition of a portfolio of 4 hotels in the Balearic Islands and Sicily.

Each property was subject an environmental due diligence review including dataroom review, regulatory consultation and site inspection. The assessment also considered projected refurbishment upgrades to luxury hotels.

The EDD findings were presented within summary reports including a qualitative assessment of potential environmental risks and liabilities, and associated estimated costs for required management works. 

Our EDD assessment supported the successful financing and acquisition of the Portfolio.

For further information on our Environmental Due Diligence Services click here​.

Service

Environmental Due Diligence

Sector

Hotels

Location

Spain and Italy

We were appointed by an European investment manager to assist with the acquisition of a large logistic development plot on the outskirts of Madrid.

The property was subject to an initial environmental due diligence review prior to acquisition including dataroom review, regulatory consultation and site inspection. The assessment focused on the projected development of the site in line with the regulatory requirements of the local authority and regional environmental authority.

Ambiente also provided advice in consecutive phases of the development project including a Phase II site investigation  work and an arboriculture survey. 

For further information on our Environmental Due Diligence Services click here​.

Service

Environmental Due Diligence and Phase II Site Investigation

Sector

Logistics

Location

Spain

Appointed by real estate investment and management firm to assist with the acquisition of a portfolio of 18 Light Industrial / Logistics properties across Denmark, Norway and Sweden.

Each property was subject an environmental due diligence review including dataroom review, regulator consultation and site inspection. A number of properties had particular concerns including specific local legislative requirements, manufacturing histories, building contaminant issues and World War II military usage.

The EDD assessment findings were presented within a summary overview table detailing the key environmental information and data gaps for each asset, identified material issues and associated management actions and costs. The portfolio overview was supported by a comprehensive assessment report for each property. 

Our EDD assessment supported the successful financing and acquisition of the Portfolio. 

For further information on our Environmental Due Diligence Services click here​.

Service

Environmental Due Diligence (Equity)

Sector

Logistics / Light Industrial

Location

Denmark, Norway & Sweden

We were appointed by a leading European property fund and asset management client to assist with the acquisition of a portfolio of eleven properties across Portugal.

Each property was subject to a comprehensive environmental due diligence assessment including dataroom review and site inspection. Following an initial screening exercise, a targeted intrusive site investigation was completed pre-acquisition at one property to assess for the presence of contamination in the area of a former petrol filling station and associated underground fuel storage tank.

A comprehensive assessment report was produced for each property.  Our central service team in London worked together with our trusted local partner company and wider DD team to complete the project on time and budget.

Our EDD assessment supported the successful financing and acquisition of the portfolio. 

For further information on our Environmental Due Diligence Services click here​.

Service

Environmental Due Diligence (Equity)

Sector

Offices / Retail / Logistics / Light Industrial

Location

Portugal

On-going environmental management on behalf of  a European property investment company with a portfolio of 34 light industrial estates throughout Germany.

 

Our local team from Cologne continues to manage the environmental aspects of the portfolio, addressing residual environmental liability and compliance issues related to land quality, asbestos and site infrastructure. The includes   commissioning specialist surveys, facilitating decommissioning works and assistance with environmental permitting issues etc.

 

The management programme is supported by our online environmental management database (Ambio), providing real-time status reports and overview reporting for the entire portfolio as well as environmental data room function.

 

The client has a solid and reliable environmental management process, helping to ensure the commercial success and improved environmental performance of the portfolio.

For further information on our Environmental Property Management Services click here​.

Service

Environmental Property Management

Sector

Light Industrial

Location

Germany

We were approached by syndicate of lenders in relation to a refinancing loan on a high-end retail complex covering approximately  1,000,000 sq ft of retail space.

 

The scope of the project was to survey the real estate and identify potential environmental, structural or mechanical and electrical liability issues.  Identified issues were valued to determine whether the borrower was required to undertake specific tasks to maintain the integrity, compliance and value of the asset.

 

Our team of building surveyors, mechanical and electrical engineers and environmental engineers undertook a detailed survey of the property. We also  reviewed the operators Planned Preventative Maintenance regime and cross-referenced this with the observations made by our engineering team.

 

Our assessments concluded that the site was in good condition, extremely well managed, in general compliance with the relevant operational health and safety and legal compliance standards and that CAPEX allocations were adequate.  

 

We were able to present the Client syndicate with a report suitable to be utilised by the relative credit committees to confirm that no abnormal risks or costs were associated with the loan.  The report also detailed the likely CAPEX profile to allow this to be monitored against actual forward CAPEX plans. For further information on our  Environmental Due Diligence and Technical Due Diligence Services click here

Service

Technical and Environmental Due Diligence

Sector

Retail

Location

UK

Commissioned by DRC to provide technical and environmental due diligence of a UK based hotel portfolio.  The portfolio included assets that were mid-way through construction work, with significant works remaining. 

 

Our role was to assess the condition of the properties, identify any risk items and critical CAPEX allocations, assess compliance with real estate related regulations, and review the construction works and budget.

 

We undertook building and environmental surveys alongside the borrower, identified the forward-looking CAPEX profiles for the completed assets and assessed construction progress and budget allocations. 

 

Our findings were presented in summary reports detailing the building and construction elements and classifying them based on risk.  For any higher-risk items we provided details on associated management / mitigation measures.

 

Our assessment allowed  DRC’s credit committee to assess the profile of the portfolio to monitor the borrowers. For further information on our Technical Due Dilligence and Construction Loan Monitoring Services click here

Service

Technical and Environmental Due Diligence, Construction Loan Monitoring

Sector

Leisure - Hotel

Location

UK

A US-based private equity firm was considering acquiring a 9.2 hectare former pharmaceuticals manufacturing, research and development facility redevelopment in greater London, and required a pre-acquisition Phase I & Phase II environmental review.

 

Key challenges included a very limited due diligence timeframe, a complex historical manufacturing use of the property, sensitive local land uses and an extensive on-site document archive.

 

We undertook an initial review of the available documentation prior to designing an intrusive site investigation appropriate for both the former use of the property and the proposed future uses. The key objectives of the investigation were to (i) establish the presence and likely extent of significant contamination on site (ii) obtain sufficient data to assess the implications of identified contamination on the proposed redevelopment and (iii) assist with satisfying contamination planning requirements.

 

We provided the client with information and advice to make an informed commercial decision on the environmental viability of the acquisition and redevelopment of the property. For further information on our Land Quality Assessment / Brownfield Services click here.

Service

Brownfield Assessment

Sector

Pharmaceuticals

Location

UK

We were instructed by the Landlord of a logistics warehouse to assess the environmental impact of tenant operations during their lease term as part of a lease surrender and dilapidations process.

 

The former tenant operations had included bulk storage of fuel and oil and associated dispensing operations, vehicle wash down areas and a maintenance of the logistics fleet.

 

The project included a Phase I site assessment, Phase II site investigation and Phase III remediation and validation works.

 

Following the completion of remedial and validation works to locally identified high risk contamination hot spot areas, we were able re-assess the environmental risk associated the former tenant uses as acceptably low for an on-going light industrial use. For further information on our Land Quality Assessment / Brownfield Services click here​.

Service

Contaminated Land Assessment, Site Investigation and Remediation

Sector

Light Industrial / Logistics

Location

UK

A large European automotive company was looking to undertake an environmental “health check” of 14 key showroom and vehicle maintenance facilities across the UK.

 

Our London office managed a comprehensive review and site visit of each facility. We identified operational non-compliance issues associated with the current operations as well as potential contaminated land issues. Following our initial findings we conducted further consultations and investigations where necessary.

 

The findings of the reviews were presented in tailored reports providing the client with a detailed understanding of the environmental performance of each facility and appropriate and achievable improvement strategies and associated costs. 

Service

Environmental Assessment

Sector

Automotive

Location

UK