THE AFFECT ON PROPERTY VALUES IN AREAS SUSCEPTIBLE TO FLOODING CAN VARY.
FCI are delighted to now include JBA’s 5 metre groundwater flood data in every Premium, Standard and Essential environmental report for commercial properties. The new groundwater data, which indicates the risk of flooding in every 5m2 across the country, allows greater detail and more specific reporting using a simple ‘traffic light’ system.
Recommended retail prices (excluding VAT) for our commercial reports are as follows:
The Law Society Practice Note (23 May 2013) lists Surface Water, Groundwater, River, and Coastal as the most common types of flooding. Future Climate Info reports contain comprehensive, property specific information on all of the Flood risks, from all of the authoritative sources. Future Climate Info reports go further by reporting the recorded past history of flooding for the property. An indication is also given of the likelihood of obtaining Flood Insurance.
Every Future Climate Info report that includes Flood data contains a Professional Opinion on the impact on property value (if any) relating to Flood information from Wilbourn & Co. Ltd Chartered Environmental Surveyors.
The climate is changing and during the Winter of 2013–14 flood events occurred in the UK which resulted in flooding to the Thames Valley, coastal flooding in the South West and flooding in the Somerset Levels. Thousands of homes and many hundreds of businesses were affected.
The affect on property values in areas susceptible to flooding can vary. In the past there has been a general misconception that over time, property values in a flood area will simply return to normal. In fact in some areas badly flooded in 2000, property values returned to normal in just 3 years despite the fact that the town continues to be under threat.
In December 2014 the Law Society revised its Practice Note providing guidance in relation to Flood Risk, providing more comprehensive guidance, and advising that the issue of flood risk should be fully considered during a property transaction. Our reports not only look at all of the flood risks from the authoritative sources, they provide full flood risk informational, without the need to purchase a separate report, including guidance as to the likelihood of obtaining Flood Insurance. Our reports are also are backed up by a Professional Opinion from a Chartered Environmental Surveyor, on the impact, if any, of flooding on the property value.
The Water Act 2014 requires that business owners be more responsible for mitigating the effects of flood risk on their properties. Future Climate Info report’s link to the latest guidance on flood resistance and resilience measures.
|Tel:+44 (0) 1279 798 111 | EMAIL: email@example.com||Copyright Future Climate Info Ltd. All rights reserved.|
Future Climate Info Limited is Regulated by RICS and is an Appointed Representative of CLS Risk Solutions Limited
who are authorised and regulated by the Financial Conduct Authority.