It never rains but it pours

09/06/2010

By Owen Walsh, Associate in Commercial Property & Development.

The Environment Agency (EA) estimates that one in five properties in England and Wales is at risk from flooding. An EA report published in June 2009 changed the way flood risk is assessed moving from rivers bursting their banks to the increased risk from surface water flooding. Therefore even if you are not near a river, you may be in an area considered to be at risk from flooding.

A new range of flood risk searches is now available and you should seek advice from a lawyer as to whether you need to carry out a search. If your property is at risk from flooding, you may not be able to obtain insurance cover and this could affect your ability to obtain finance for the property. You will need to consider the potential disruption to your business if your property is flooded and the cost of repairs.