Condensation on cold water pipe causing damp patch

nia573

Noiticed last night where the mains water pipe comes into my house in the kitchen, I'm having lots of condensation that builds up on the pipe itself, then trickles down to leave a damp patch on the floor.

The pipe comes in at floor level then runs up the wall into the ceiling & into the airing cupboard where the tank is. There's a hot water pipe that runs alongside this pipe on the kitchen wall, & since having the kitchen decorated last year I decided to box up both pipes with some 200mm x 10mm wide pine so that it looked a bit tidier (both pipes are about 2" to 3" apart, so they're both boxed in together)
I wrapped both pipes the best i could with some of that split foam pipe insulation, but since the pipes are close to the wall at the bottom, I couldn't entirely cover the whole length.

I'm thinking that with having the central heating on lately that both pipes been boxed together has made it slightly worse, & the heat off the hot pipe causes condensation on the outside of the cold pipe (which is really cold at the entry point), which in turn trickles down & causes a damp patch on the floor

Whats the best option, considering that both pipes are so close together that they can only be boxed together (& it took me all day with my woodworking skills to make the box structure, so I want it to stay![LOL] ).

Is it best to hack around the pipes at the bottom so that I can insulate all around them?
Do I need to insulate both pipes or just the one?
Can you get insulating tape or bandage (like exhaust bandage) for home use?
Should I pack up the box structure with lots of insulating wool (like loft insulation?)

I'll be carpeting this area soon so don't want any more damp patches!

Thanks for any advice!