Potential Environmental Liabilities with Industrial Properties in the United Kingdom

Jayne Michael and Syms Paul

Journal of Real Estate Portfolio Management, 2003, vol. 9, issue 3, 237-249

Abstract: Executive Summary. Part IIA of the Environmental Protection Act 1990, implemented April 1, 2000, introduced a new ‘contaminated land’ regime in England, imposing ‘strict liability’ and raising issues for everyone involved in leasing and managing industrial properties, having potentially adverse effects on both income and value. The Royal Institution of Chartered Surveyors (RICS) provides guidance on the valuation of properties affected by contamination (RICS, 1995), as well as the role and responsibilities of the surveyor when undertaking property inspections (RICS, 2000). This advice is broadly based and does not identify the many ‘pitfalls’ that may confront a surveyor. This study examines practices in the United Kingdom and identifies areas where changes may be needed in order to arrive at ‘best practice.’

Date: 2003
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DOI: 10.1080/10835547.2003.12089689

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