A private manufacturing company had relocated to new premises and required assistance in disposing of their existing manufacturing facility, which had a number of environmental constraints, including asbestos and underground Storage Tanks and hydrocarbon contamination. The Romney Group was appointed to:

• Manage the site disposal
• Advise on realisation values
• Coordinate environmental reporting
• Coordinate contract documentation
• Manage marketing material and agency tenders
• Project manage site remediation

In order to fully rationalise the value we needed to establish the extent of site contamination and remediation costs prior to offering the property to the market.
The site was sold through an EOI on either a ‘walk in walk out’ basis or fully remediated. Based on our initial cost analysis we were able to provide a client with a breakdown on the highest price taking into account the costs of remediation against a simple ‘walk in walk out’ basis. The Romney Group managed the tendering and remediation of all on-site contamination, meeting all the requirements of the EPA and the purchaser.

The sale price achieved exceeded all expectations and set a new benchmark for development land in South Sydney.