A new report has been launched today to provide detailed information on potential property development sites.
The Commercial Property Search Report, aimed at property investors, house builders and professionals serving commercial developers, is a detailed extension of the existing audit for residential properties and investments.
The report comes from Property Search, which forms part of the Environment Agency. It has been developed with environment consultancy, GroundSure, and will reveal all manner of hidden obstacles in the land including liability to flooding and subsidence and contamination by heavy metals, Radon and other hazardous materials.
Ann Conway-Hughes, managing director of Property Search, said: "There are thousands of companies that are either advising on or investing in commercial sites without full historic knowledge of the land.
"Without a comprehensive report on the site there is no way of knowing whether a site that looks like it is ripe for development could end up costing a fortune."
“A simple telephone call will tell property specialists whether they are making a sound business investment or taking a huge business risk,” added Conway-Hughes.