NFU Mutual portfolio environmental due diligence
- Client Name
- NFU Mutual
- Location
- Various, UK
Challenge
Our client NFU Mutual required a Property Environmental Due Diligence assessment to inform their investment decision in the development of six new built Grade A logistics facilities, totalling in excess of 1 million sq. ft.
The facilities are located at East Midland Distribution Centre, Castle Wood Business Park and Centrix Business Park.
The deal, worth in the region of £100 million, is the largest to date undertaken by Clowes Developments as the developer of these prime industrial/distribution properties.
Solution
Our assessment comprised a site visit and desk based review of the available environmental information including both current and historical, from a range of sources including Ordnance Survey and British Geological Survey, Environment Agency, Local Authorities and public health agencies.
We also provided a data room review, which included peer reviews and second opinion on existing reports prepared as part of the planning process for the developments.
A standalone report was prepared for each development plot.
The findings of the assessments were utilised to provide advice on the significance of identified risks, the potential for environmental liabilities to arise, and recommendations for any further investigations or actions to clarify, mitigate or manage risks.
Impact
The final assessments enabled NFU Mutual to make an informed decision on their potential investment and the deal was successfully completed in May 2021.
