Hilson Moran Partnership

NEWS

20/11/2009

Hilson Moran contributes to BCO-endorsed research into refurbishment

Hilson Moran has contributed to an important new research document, endorsed by the British Council for Offices (BCO), entitled Can do Refurbishment.

Can do Refurbishment sets out both the economic and environmental benefits of refurbishing existing commercial buildings rather than rebuilding from scratch. The new research document was developed in partnership with Scott Brownrigg and Gardiner & Theobald.

The research focuses specifically on commercial buildings constructed over the last 40 years. It challenges the common myths and 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.

The document 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

Brand enhancement

Opportunities to increase floor area

Programme benefits (up to 70% time saving)

Improvements to a building’s sustainable credentials

Can do Refurbishment 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. It also has a sustainable focus, highlighting the fact that refurbishment utilises fewer materials, and that it is more sustainable to make older buildings more energy efficient, rather than to demolish them and build new ones.

The publication employs a traffic light system - with Red representing the widely held views and resistance to refurbishment; Orange representing how these negative attitudes can be turned into the 'can do' positive approach, reinforcing why refurbishment can be beneficial; while Green represents the outcome of this positive approach.

For further information click on the following links:

http://www.scottbrownrigg.com/home/

http://www.gardiner.com/

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