Can do
Refurbishment of commercial buildings
of the 70s, 80s and 90s
Born out of an in-depth knowledge of the commercial office market it became apparent that the booming stock of the 70s, 80s, and 90s, whilst reaching the end of their design life, held intrinsic value as prime properties for refurbishment, the all-significant key being refurbishment as opposed to redevelopment.
Conceiving and leading research studies into this idea resulted in a publication endorsed and adopted by The British Council for Offices (BCO). The publication challenged the common myths and preconceptions of new build over refurbishment. In particular, the research addressed how pre-existing stock can be very attractive to both occupiers and funders as these assets offer:
- A lower development risk profile
- A quicker return on investment
- Improved rental and yield values for minimum
capital investment - Enhancements to a funds portfolio
- Enhancements to the design life of existing stock
- Retention of occupiers
- Brand enhancement
- Opportunities to increase the floor area
- Programme benefits (up to 70% time saving)
- Improvements in n the building’s sustainable credentials
The research has been illustrated with successful examples which, once completed, conform to the modern and accepted BCO office standard.
This research handbook is now used by owners of office buildings, developers, owner-occupiers, and tenants considering refurbishment to help make key decisions at the earliest stages of a potential development project.
