Overview
The acquisition, disposal, remediation and development of contaminated property is a challenging risk management and commercial issue for business and government. The Australian and New Zealand Environment and Conservation Council estimates that there are up to 10,000 potentially contaminated sites around Australia. The commercial consequences of land contamination can be very significant in that:

• the options for development of contaminated sites can be limited without investigation and remedial works
• land contamination can significantly decrease the value of that land
• financial institutions and lenders are now much more environmentally conscious and may not accept a potentially contaminated site as security without independent environmental investigations
• obtaining insurance for the risk of land contamination in Australia is very difficult
• land contamination raises unique and complex contractual issues in negotiating the sale of contaminated sites.

Freehills' team of environmental lawyers not only have a detailed understanding of the legal and regulatory framework for the management, remediation and development of contaminated properties, but they also bring to bear a practical, commercial and problem-solving approach to help our clients achieve their development and business goals. We have vast expertise and experience in advising clients in respect of the sale and acquisition of contaminated properties, the management or remediation, and the development of contaminated properties throughout Australia.

For example, Freehills advised Lend Lease on soil and groundwater contamination issues associated with its successful bid to develop the Victoria Harbour precinct at the Melbourne Docklands. The development of the Sydney Olympics Stadium in Homebush, Sydney, is a further recent example where Freehills was required to advise on soil and groundwater contamination issues, this time where a former industrial site was reclaimed for development. We also frequently advise banks and other financial institutions on lender liability risk associated with contaminated properties.