SUMMARY

Western world governments and private sector businesses have recognised the importance of “re-found1 ” brownfield2 land. Land that had previously been contaminated and rendered unusable as a result of its past use is being “re-found ” 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 this practice 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. Contaminated brownfield land, which has occurred via increased soil toxicity, creates its own unique assessment difficulties. Enhanced technology for assessment of the volume and type of contamination, coupled with methods for its ‘clean-up/containment’, has in many cases enabled previously unusable sites to be returned to viable uses. In other words, “re-found”.