Industry News
Item 1 - Booker lease adds to growth at Clydebank Business Park
Item 2 - Property sector forced to act on asbestos hazard.
Item 3 - NILGOSC purchase Wey Valley Retail Park for £8m
Item 4 - NAI Completes $7.1 Million in Transactions For ShopKo Stores, Inc.
Item 5 - CIENA's call
Item 6 - Park Life
Item 7 - Planning for renewal
Item 8 - Great Weston debut



Property sector forced to act on asbestos hazard. Next Previous Back to List

Asbestos removal of asbestos containing material at a City office block.
    A lethal time bomb has been detonated by decades of asbestos use, which will kill as many as 10,000 people a year in the UK by 2020, according to government figures. In belated response, stringent new laws are to be introduced this summer, putting the onus for dealing with asbestos firmly on landlords and employers.

    "The issue of asbestos is going to become increasingly important for property professionals," argues James Lane, senior surveyor at NAI Gooch Webster. "It will certainly become part of the lending criteria for banks: it may be difficult for owners to sell property without remedial repairs."

    Lane has developed a detailed template for owners and tenants to use in determining what action must be taken to deal with asbestos.

The Control of Asbestos at Work Regulations 2002 will require every landlord and employer to undertake at least an assessment of his property (including a visual inspection) and usually an asbestos survey to identify the type, location and condition of the material. If asbestos is present, a risk assessment shall be undertaken and a written Plan prepared (an asbestos register). This will implement management procedures for monitoring the condition of materials, maintaining them in good condition or removing them safely and providing information to both the emergency services and anyone liable to disturb the asbestos.

Asbestos deaths have already reached the alarming figure of 3,000 per year, equalling the number of deaths from car accidents. Nothing can be done about the rising numbers, since they relate to contact with asbestos dating back many years. But the new regulations will make it a criminal offence if building owners fail to deal with the material. Purchasers' solicitors will also have a duty to ask whether a survey has been carried out as part of their due diligence.

The template developed by James Lane at NAI Gooch Webster draws detailed conclusions from the type of asbestos found, its location and condition. At worst, where there is a 'severe hazard', the affected area must be sealed off immediately and the material removed within six weeks, or encapsulated and removed at the first reasonable opportunity.

"We will be helping banks and purchasers work out how to factor asbestos into their valuations," says Lane: "How much asbestos is there? How much will it cost to remove it? If it's very expensive to get rid of it, no-one's going to want to be in there and it could make deals fall out of the window."

Where other consultants have compiled reports on asbestos, Lane offers a more in-depth service, helping to decipher reports and suggest practical steps for landlords to take. "We can put the information from reports into a more manageable document and make it useful for end users," says Lane.

Contact: James Lane

"NAI Gooch Webster*, whilst exercising great care in its preparation, provides this report on the basis that it is a source of general information only. It may contain unintended errors or may be rendered inaccurate by events subsequent to its publication and therefore the reader must not act upon the report or any part of it as if it were advice upon which the reader is intended to rely." (*the trading name of Gooch Webster Limited)