Building refurbishment: holistic evaluation of barriers and opportunities

With the significant reduction in the number of construction projects due to the economic meltdown in the last three years, which is feared, may continue well into this second decade, the refurbishment of old and existing buildings may be perceived as a strategic avenue through which property owners could secure value for money. It is common knowledge that aged buildings are constantly growing in number with a concomitant growing pressure to maintain their utilitarian values in the face of changing technology, legislation and sustainability issues. Indeed, the majority of buildings in the UK pre-date the emergence of the modern concepts of sustainable development. Wholesale demolition of these buildings can be quite unhealthy from an environmental protection perspective as it causes heavy pollution as well as placing more demand upon depleting resources. Nevertheless, the demand for sustainable, energy efficient buildings from both regulators and occupiers is increasing despite the recession. However, is the inclination to refurbish rather than demolition and newbuild becoming stronger? This paper explores the barriers and opportunities for building refurbishment schemes as an economically motivated activity through which the performance and value of a property can be enhanced. It is based on comprehensive literature review as part of on-going doctoral research programme on risk structure in building refurbishment schemes. It concluded that refurbishment is substantially cheaper than demolition and new-build and that a refurbished building can be as functionally efficient as new-build.