CARAS Land Remediation Project

CARAS have recently been contacted to provide advice on remediation options and expert cost reports to a number of clients whose tenants had created a pollution event on leased property. Typically, these projects involve a parcel of land circa 5 – 20 HA in the outer suburbs of a major city with the potential for future development as the city expands.

The property is leased through a local real estate agent to generate cash flow in the short term. The tenant then allows contaminated soils, fuel leaks, waste, and chemicals to be present on the land. The impact on soil, groundwater and surface water run-off triggers the requirement for a potentially expensive clean-up that may exceed the value of the land. The available avenues for cost recovery for the Landowner will be from the tenant, the real estate agent or insurance claim through any available policy by any of the parties. CARAS has assisted by providing the expert cost report on the valuation of the remediation works.