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Strategic Asset Enhancement, : - Coggle Diagram
Strategic Asset Enhancement
INTRODUCTION
Enable building owners to maintain the competitiveness of their old building to current standards
New Buildings constructed with specific requirements
To avoid falling rental values and rising vacancy rates
Buildings is undergoing asset enhancement in Singapore.
POTENTIAL USERS OF SAE
Property has not been significantly improved for many years
Secure higher rentals and longer leases in building
Experienced rising vacancies recently.
Being worried that new legislation might affect older building in the future
Owning an old commercial property.
REASONS FOR ASSET ENHANCEMENT
2 - Easier to get positive returns and increase the value of the property
Easier to get positive rental reversions due to building looking new and fresh
Keep their properties new and their customers/tenants happy.
Tenants can choose to leave if a better opportunity comes by
It is property manager's duty to manage properly
Help to increase the value of the property.
1 - Keep the property up to date
Able be to reconfigure the property for other types of commercial use
AEI can be used for small & big scale upgrades to a building
Aids property manager to maintain property up to date with modern designs
3 - BETTER SERVICES & ENERGY EFFICIENT FEATURES
With asset enhancement owners will meet
current demands standard
Commercial reasons:
Retain an existing occupier
Reduce running costs
Attract a new occupier
Increase income
Operational reasons
Due to a change of use such as office to hotel, retail to leisure
Due to increase demands such as mechanical, electrical, data
Technical reasons
Legislative reasons
Environmental reasons
Health and Safety Reasons
ASSET ENHANCEMENT INITIATIVES ( AEI)
Tenant profile, enhance capital value and
offer returns in reasonable time frames.
Carried out in the manner of redevelopment & refurbishment
Can impact the overall project budget, schedule, and quality.
REDEVELOPMENT
Existing buildings that are demolished and new ones
constructed
Redevelopments are associated with discontinuing
Usually more comprehensive than refurbishments
REFURBISHMENT
Improve the facilities & rearrange internal spaces
Improve the structural life cycle without changing the original function
Improvement and enhancement of an existing building
Measures of varying intensity to improve and enhance the still functioning but outmoded property
Include retrofitting and renovation and restoration.
Renovation
Resurrect that structure from a state of disrepair.
Poorly
maintained buildings are sometimes considered to be in a state of disrepair
Restoration
Process of bringing a building back to its original state
For building under conservations.
For economic reasons, owners try as far as possible to combine a refurbishment with
an extension/enlargement of the existing area
Retrofitting
Involves updating or adding equipment, sensors, or services to existing hardware
Allows for usable updates without the waste of replacement and upgrading
to newer technology.
Use of new and more modern systems in an existing building
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