An interesting, if slightly disturbing issue has arisen on a purchase I am dealing with for a pension scheme.
My Coal Authority search has revealed a mine shaft slap bang in the middle of the property, which is part of a trading estate. The trustees of the pension scheme are understandably nervous about the potential liabilities arising from this discovery, and completion is being held up whilst further investigations are made.
The next step is to check with the Coal Authority to see if the shaft has been capped or, to use a technical term, sterilised. The Coal Authority will prepare a Mine Entry Interpretive Report.
Other enquiries have proved fruitless and one might question the level of due diligence carried out when the Seller, who owned the whole of the trading estate at one point, purchased the property. On the other hand, the Coal Authority’s records are constantly being updated, and the shaft may only have been discovered in recent years.
So, until the Interpretive Report is to hand I am stuck with the mine shaft on the property and everyone is looking into it!!
Watch this space…