Building refurbishment could be upside to economic downturn

Sep 24 2008 by Tony McDonough, Liverpool Daily Post

THE economic slowdown continues to change the dynamics of commercial property – and not always for the worst. One positive could be a shift in how Liverpool’s older properties are perceived.

Twelve months ago, the local market was obsessed with new build steel and glass towers – doubtless encouraged by a series of high-profile lettings at both St Paul’s Square and 20 Chapel Street.

Commentators questioned the future of Liverpool’s substantial stock of older buildings in the face of developments such as the 1.5m sq ft of commercial space proposed at Liverpool’s Pall Mall.

As someone who has spent much of his career working with historic buildings, and who is presently associated with a conservation project at the Cunard Building, I’ve always had enormous regard for traditional architecture and quality that has stood the test of time.

There will always be challenges with improving older/ listed buildings to ensure that most of the boxes are ticked when assessing the property against the continually improving standards.

That said, with a good understanding of the building and a degree of ingenuity, there will inevitably be an economic solution to providing first-class space.

Older buildings, particularly those that are listed, have a stature and status that modern buildings struggle to emulate: and, in trying to achieve a unique selling point, many modern buildings fall into the trap of being fashionable and by reason of this their appeal is, relatively, short-lived.

Good quality older buildings have longevity not affected by fad. I find it difficult to conceive that, in a century, any of today’s new buildings will have the status of the Three Graces.

We’ve seen restaurateurs and hotel operators put older buildings at the heart of the new Liverpool. But it’s not just about conversions.

Anyone who has visited local law firms DLA Piper and Brabners can see for themselves that a quality refit has created enviable office space within India Buildings and Horton House respectively. Liverpool Vision’s refurbished space within The Capital is also on a par with Grade A new-build.

I’m also bound to say that, in the old v new debate, green issues tend to be a red herring. Both traditionalists and modernists can make a convincing case that their architecture is right on the grounds of sustainability.