Refurbishment – maximum efficiency of established buildings
Vacant land is becoming increasingly scarce in China’s sought-after locations, while the supply of aging building stock is on the increase. Old buildings are often in quite bad conditions. As a tenant or as a purchaser, it is imperative to know what state a property is in, what are the risks involved, and will it cost to bring the property to a condition comparable with other etates.
Our Technical Due Diligence (TDD) service evaluates potential renovation properties for you, recommends appropriate construction work, and estimates costs and timelines. We also examine the property’s documentation and point out high-risk deficiencies or inconsistencies.
If an established property is selected, construction work will be necessary both for the new use as well as to address any risks identified. Sufficient allowance must also be made for regulatory approvals – such as planning permission and fire inspection. The time required – and even the impact on the feasibility of a project – is often underestimated. For this reason, Drees & Sommer evaluates the local approval situation at an early stage and presents the outcomes in a form ready for decision.
Compared to new buildings, the design of redevelopments generally has to deal with smaller elements and more complex issues. These include rules and standards that have changed since completion of the building. We work hand in hand with the planner and ask all the right questions. During the implementation, our strict building site management ensures that building alterations progress smoothly, even when adjacent parts of the property or neighboring properties are in full operation.