The valuation of contaminated land ‐ Methods adopted in the UK and NZ
Authors: Bond, Sandy G.; Kennedy, Paul J.
Source: Journal of Property Investment and Finance, Volume 18, Number 2, 2000 , pp. 254-271(18)
Publisher: Emerald Group Publishing Limited
Abstract:Increasing litigation involving land contamination and an escalation in the number of incidents where property owners have suffered financial losses from these cases has resulted in negative impacts on property values and greater risks associated with investments in contaminated property. To date, there has been little systematic research on the valuation methodology that accounts for these risks. To help address this, two similar surveys were undertaken within New Zealand (NZ) and the United Kingdom (UK), the results of which are summarised here. The survey instruments were designed to determine what the respondents are currently doing when providing advice or producing valuations to account for the financial risks associated with investing in contaminated properties. It is hoped that the survey results will aid the process of developing "best practice" methodologies for use by valuers.
Document Type: Research Article
Publication date: April 1, 2000
- Previously published as Journal of Property Valuation and Investment