In 2009, Scott Brownrigg published British Council for Offices (BCO) endorsed research entitled Can do Refurbishment, which, in the context of the economic situation, set out the benefits of refurbishing commercial buildings over knocking them down and starting from scratch.
Download the Can do Refurbishment report here
The research was carried out in collaboration with Hilson Moran and Gardiner & Theobald, focusing specifically on commercial buildings constructed over the last 30 years. It challenges the common preconceptions that see new build favoured over refurbishment and considers the financial, building services, structural, risk, programme, sustainability and planning advantages of choosing to revitalise an existing building instead.
Can do Refurbishment discusses how, in a recession, the availability of pre-existing built stock and refurbishment options can be very attractive to both occupiers and funders as these assets offer:
- A lower development risk profile
Quicker return on investment
Improved rental and yield values for minimum capital investment
Enhancements to funds portfolio
Enhancements to the design life of existing stock
Retention of occupiers
Improvements to a building’s sustainable credentials
Opportunities to increase floor area
Programme benefits (up to 70% time saving)
This publication provides the owners of office buildings, developers, owner-occupiers and tenants considering refurbishment with the information they need to help make key decisions at the earliest stage of a potential development project.
For more information about the BCO and our research partners, please click on the following links: