Bureau Veritas Helps you Understand the Importance of Site Investigation Reports in Commercial Real Estate Transactions

A Site Identification Report (SIR) provides information to the client to help determine obstacles to various zoning and city ordinances when working through the permitting and zoning process. BV conducts phone investigations and internet research with municipalities to investigate feasibility, including zoning, permitting, codes, and regulations, with the client’s proposed modifications or new development design.

BV defines a Site Investigation Report
A site investigation report is a comprehensive document that evaluates various aspects of a property. It typically includes:

1. Structural Assessments: Evaluation of existing buildings and structures on the site.
2. Zoning and Land Use Analysis: Review of local zoning laws, land use regulations, and compliance with municipal plans.
3.  Infrastructure and Utilities: Assessment of the availability and condition of infrastructure such as roads, water supply, sewage, and electrical systems.
4. Historical Use: Investigation of past uses of the site to identify any potential environmental or structural issues.
    

Importance of Site Investigation Reports

1. Zoning Compliance
   Zoning laws dictate how properties can be used within different areas of a municipality. A site investigation report helps determine whether a property meets the current zoning requirements or if rezoning is necessary. This is crucial for ensuring that the intended commercial use of the property is permissible under local regulations.
2. Structural Integrity
   For properties with existing buildings, structural assessments reveal the condition of these structures. This information is vital for deciding whether to renovate or demolish existing buildings and for estimating the costs involved.
3. Financial Planning
   A thorough site investigation report provides a clear picture of the site's condition, helping investors and developers budget accurately for potential issues such as environmental cleanup, infrastructure upgrades, or rezoning applications.
4. Risk Management
   Identifying and addressing potential risks early in the transaction process can save time and money. It helps stakeholders avoid unexpected challenges that could derail the project.
    

BV’s Process of Conducting a Site Investigation

1. Preliminary Research
   Before conducting on-site investigations, preliminary research is carried out to gather historical data about the site, review existing records, and understand the local zoning regulations.
    
2. Site Visits
   A physical inspection of the property is conducted to assess its current condition. This inspects existing structures, and evaluates the site’s accessibility and infrastructure.
    
3. Reporting
   The findings from the research, site visit, and testing are compiled into a detailed report. This report includes recommendations for addressing any identified issues and ensures that the property complies with zoning and environmental regulations.

How Bureau Veritas Stands Out to Investors and Developers

1. We are Qualified Professionals
   Our teams are made up of experienced environmental consultants, geotechnical engineers, and zoning experts to ensure a thorough and accurate site investigation report.
    
2. BV Understands Local Zoning Laws
   Our BV teams are familiar with local zoning ordinances and land use plans. This knowledge is critical for interpreting the findings of the site investigation report and planning the development project accordingly.
    
3. Our teams and reports help you Budget for Unexpected Issues
   Even with a comprehensive site investigation, unforeseen issues can arise. At BV, our reports can help to create a contingency budget to address any additional problems that may be discovered during the development process.
    
4.  BV helps you to plan  for Long-Term Compliance
   Our teams help ensure that the development plan not only complies with current regulations but also anticipates future changes in zoning laws.