There is an increasing complexity and interplay between all of the issues associated with property portfolio decisions. This paper explores the relationships between financial, environmental and social parameters associated with building adaptive reuse by way of a case study. A new model predicting adaptive reuse potential is applied to a heritage building in Hong Kong known as Lui Seng Chun. Such application can assist in the transformation of the building and property industry towards more sustainable practices, strategies and outcomes, by providing a means by which the industry can identify and rank existing buildings that have high potential for adaptive reuse. In Hong Kong's case it provides an ability for sustainable, responsive energy and natural resource management by allowing issues regarding excessive and inappropriate resource use to be identified and assessed, and appropriate management strategies to be implemented. Given the building's current age and condition, Lui Seng Chun has at least 25 years of physical life remaining. The further application of a multi‐criteria sustainability evaluation tool supports the conclusion that an adaptive reuse strategy for this building will make a demonstrable contribution to the economic, social and environmental amenity of Hong Kong. The application of these techniques to other buildings with significant “embedded physical life” is highly recommended.
|Number of pages||15|
|Journal||International Journal of Strategic Property Management|
|Publication status||Published - 2007|