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Topic 1 - Introduction to Strategic Asset Enhancement - Coggle Diagram
Topic 1 - Introduction to Strategic Asset Enhancement
Refurbishment
Measures of varying intensity, for still-functioning BUT outmoded property
RETROFITTING
The integration of new & modern systems unto existing hardware
Sensors
Services
Equipment
RESTORATION
Bring a building back to its original state
Usually carried out for building under conservations
RENOVATION
To restore to a good state of repair
"Improvement & enhancement of existing building to:
Improve the facilities
Rearrange internal spaces
Improve the Structural Life (w/o changing the original function
Goal is to avoid property from falling behind in competition with similar property
Reasons for Asset Enhancement
Offer better services and energy efficient features
such as
Improving standard of accomodation
Keeps the property up to date
through usage of modern designs
reconfiguration of property for other types of commercial use
Obtain positive returns and increase the value of property
how?
keeps properties new
satisfy customers/tenants
increasing rental
Applicable to :
An old commercial property.
Rising vacancies
Low rental values
AEIs (Assest Enhancement Initiatives)
is carried out by either
Redevelopment
Refurbishment
Can change the tenant profile
Reasons for Asset Enhancement Initiatives
Operational reasons
for change of use
retail to leisure
hotel to residential
office to hotel
increasing demands
Technical reasons
Health and safety reasons
Environmental reasons
Commercial reasons
To reduce running costs
To reduce operational costs
To expand business
Enhance capital value
Offer returns in reasonable time frames
Redevelopment
where existing buildings are demolished and new ones are constructed
Discontinuing the previous use
More comprehensive than refurbishments
Example
- Facility at the 7000 Ang Mo Kio Avenue 5 property in 2019; a six-storey production block and five-storeyoffice block into an eight-storey high-specification industrial
carried out when the owner considers the buidling :
Out-of-date
To costly or difficult to renovate