Henderson. History of P-lab. Now clean. Council 'satisfied'. Would you buy?

[sazu]

Hello folks,

Please share your experience/expertise re subject line.

thanks a lot.

[aay]

If it's tidy, should be 15% below market value in my opinion. It's always going to be there in the LIM report, so will always affect resale value.

[drelly]

As soon as the neighbours tell the new tenants that it was a P-lab, you're screwed.

[aay]

I'm sure there will be plenty of tenants that won't mind, as long as you have evidence that it has been cleaned and council is satisfied. Just come clean with the tenants upfront, and I suppose the rent will probably need to be slightly less than market.

[lawt]

As soon as the neighbours tell the new tenants that it was a P-lab, you're screwed.

Why do you say this? Is there a duty of disclosure if it's now clean?
If it's let for a fixed term then is there a problem?

[drelly]

Why do you say this? Is there a duty of disclosure if it's now clean?
If it's let for a fixed term then is there a problem?

I think what aay said is the best way to go. Disclose up front and put it in the tenancy agreement. No, I doubt there would be a duty of disclosure but if you don't disclose, I think most tenants would want to leave when they found out. And even on a fixed term, would tenancy tribunal let them out... I think they would.

[teamchase]

Do you have total records of the work undertaken in the remediation?
and based on that would you be satisfied in living there?
My understanding is that the chemicals used in P manufacture penetrate the building something wicked, and continue to leach for sometime. so if the process of remediation doesnt carry a clearly detailed scope of works, and warranty id be wary, as a tenant or landlord. has a post remediation chemical test been done?
Im interested to hear the outcome of this, (did you buy or not? / what the end sales price was etc.)

[PTILoveYou]

If the P-Lab & clean up record is still on LIM...

No, I won't touch it.

If the P-Lab & clean up record is NOT on LIM...

No, I still won't touch it.

There are plenty of properties for sale out there.

[Leftette]

This may be stating the bleeding obvious, but as a tenant I'd be obviously concerned by the potential health risks, but also by the possibility that some scumbag low-life who's not heard that there's no p-lab on site anymore decides to knock on the door at 3am hoping to score a hit, or whatever the hip phrase is these days.

[donthatetheplayer]

I agree with Gary. There are plenty of houses out there.