This document discusses making older buildings more resilient to remain useful. It suggests considering the three R's of retain, rebirth, and reinvent to determine if a building should be kept as-is, renovated, or redeveloped. A robust feasibility study should identify the best option to improve rents, realize returns more quickly, and reduce risks, with the goal of achieving commercial and sustainable results that benefit both the building and its tenants.
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8. Obsolescence to Resilience
Drivers. Corporate Requirements, Legislation, Technology
Test resilient Criteria How does your building rate?
Ability to deliver sustainable result?
Tenants worth retaining?
Consider the Three Rs
- Retain
- Rebirth
- Reinvention
Carry out robust feasibility to identify best option
Improved rents on well refurbished space drive Capital Value.
Good returns realised in shorter timescale
Less risk? Time & cost?
Great results for appropriate space and location Commercial & Sustainable
In Summary
Remember the 3 Rs
Retention
Rebirth
Reinvention