During the acquisition of a decommissioned site, previously used for the production of household appliances, Pro Iter Ambiente carried out a Phase I technical and environmental Due Diligence.
The technical Due Diligence aimed to verify the transferability of the property, identifying any potential critical issue, through:
- Cadastral, urban planning, construction, and structural analysis aimed at verifying the compliance of the real estate complex with the regulatory requirements of Italian national and and regional legislation currently in force.
- Preparation of maintenance Capex to restore the property to normal efficiency and/or Capex relating to demolition and reconstruction costs.
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Technical Due Diligence (cadastral, urban planning, construction, and structural).
Preparation of maintenance Capex (construction-related).
Environmental Due Diligence (Phase I).
Preparation of summary reports.
The phase I environmental Due Diligence was aimed at identifying the potential presence subsoil contamination, considering the activities carried out at the site and the hazardous materials present there (currently and/or in the past), as well as assessing any costs associated with managing such hazardous materials and substances, if still present. The assessment included the following steps:
- Identification of potential environmental liabilities.
- Preliminary estimation of the costs (minimum and maxium) necessary to address the identified environmental liabilities, to enable the Client to evaluate any future assignments associated with ongoing investments and enable it to take informed decisions.
- Recommendation for further in-depth studies (Phase II Due Diligence).
The results of the due diligence were discussed and formalised in a report discussed with the Client, including: location and description of the buildings and the area in which they are located, list of potential liabilities identified following the review of documents and observations made on site, further recommended actions and estimate of minimum and maximum costs to manage the critical issues identified. The report was accompanied by: a geographical overview (map of the area where the buildings are located), site plans and a photographic report.
