Valuation involving brownfield sites : an economic, environmental and social issue
Adcock, Simon and Ed Young
For many years, this team (Commission 9, Working Group 9.2) has been investigating and presented international research papers on the complex issues involving contaminated sites. This paper will be a combination of these finds and also cover envisaged future challenges. The significant reason for this issue in Western world governments and private sector businesses have recognised the importance of re-found11 brownfield2 land from an Economic, Environmental and Social issue (triple bottom line). Land that had previously been contaminated and rendered unusable as a result of its past use is being re-foundd via a forensic process and thus made useful again. The consideration of alternative uses and valuation methodology is paramount in establishing the value of such a site. The need to encourage the land professionalls awareness worldwide, to consider the practice of valuations of contaminated sites to achieve Economic, Environmental and Social Issues has been driven by three key factors: Land shortages, particularly in urban/commercial areas, (equating to higher prices); The need to rectify environmental catastrophes which have occurred over time, usually via the movement of contaminated ground water resulting in the contamination of clean land; and; To remove visually unattractive evidence of past uses such as former rubbish tips.
Event: XXIII International FIG Congress : Shaping the change
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