Alex Ground, Pippa Beesley and Laughlan Steer have written an article in Estates Gazette outlining what building owners and developers need to consider when undertaking refurbishment projects.
They note that at the planning stage, whole life cycle assessments of new buildings and refurbishments – motivated by environmental sustainability – are increasingly required, as well as the need to demonstrate that the approach proposed will sufficiently extend the building’s lifespan. They add to this the importance of establishing what the optimal viable use of the building will be, as opposed to alternatives.
From a construction perspective, the team flags the need to thoroughly risk-assess plans, and advises on methods of dispute resolution and the potential benefits of using value engineering to incentivise parties to reduce costs.
While there may often be a compelling case for replacing older retail buildings, innovative refurbishments remain an essential method for regenerating city centre shopping districts. Refurbished spaces can effectively meet both consumer tastes and habits in the digital age and evolving “green” policy requirements."
Major refurbishment projects rely on many factors which can and should be considered in the planning and contract stages. While additional policy support is also desirable, overall there is the vision, ingenuity, and expertise in the market to overhaul our high streets."
The full article is available to read online at EG by subscription only.
Alex Ground and Pippa Beesley are partners in the real estate, planning and construction team. Laughlan Steer is a senior associate.
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