Glossary definition
Site Investigation
A series of ground investigations and environmental assessments carried out to identify potential risks associated with a development site, including contamination, ground conditions, flood risk, and ecological constraints. A typical site investigation includes a Phase 1 desktop study and, if necessary, a Phase 2 intrusive investigation involving trial pits and boreholes.
Definition
A series of ground investigations and environmental assessments carried out to identify potential risks associated with a development site, including contamination, ground conditions, flood risk, and ecological constraints. A typical site investigation includes a Phase 1 desktop study and, if necessary, a Phase 2 intrusive investigation involving trial pits and boreholes. Lenders require satisfactory site investigation reports as a condition precedent to drawdown, particularly on brownfield sites.
See also
Closely related terms.
Remediation
The process of removing or treating contamination on a development site to make it safe for the intended use, often required on brownfield or former industrial land.
Condition Precedent
A requirement that must be satisfied before a lender is obliged to make funds available under a facility agreement, often abbreviated to CP.
Build Cost
The total cost of construction works on a development project, typically including materials, labour, preliminaries, and contractor margins.
Contingency
A budget allowance set aside for unforeseen costs during a development project, typically expressed as a percentage of build costs.
Further reading
Guides that touch this term.
Guide
How Does Development Finance Work? A Complete Guide for UK Developers
A ground-up guide to how development finance is structured in the UK, covering loan mechanics, drawdown schedules, monitoring surveyors, and what lenders look for in your application.
5 min read readReadGuide
Development Finance Application Checklist: Documents You Need
A comprehensive checklist covering every document lenders require for a development finance application, from development appraisals to contractor tenders and planning evidence.
11 min read readReadGuide
RICS Red Book Valuations for Development: What Lenders Require
A comprehensive guide to RICS Red Book valuations in development finance, covering what lenders require, how valuations are structured, and how to ensure your scheme is accurately assessed.
11 min read readRead
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