Recycling of Outdated Industrial Buildings. Noteworthy, Epping Property can assist in updating or upgrading your industrial building to include the latest features and aspects currently demanded by tenants and buyers.
Outdated industrial buildings, many vacant for years, are being pursued by investors and developers. Consequently, profiting by dressing them up and dancing them around again. However, suitable buildings are in short supply, and sometimes a developer has to take a risk in entering a building recycling project.
A shortage of office space in the Cape Town area and a lack of the sort of inexpensive research and manufacturing space needed by start-ups and smaller companies have made developers take a second look at scores of older manufacturing buildings. The small sums it takes to buy, rehabilitate and rent them is proving popular with investors and developers. The property market in Cape Town has been buoyant. Most projects have been in real demand by buyers and tenants. It seems like this trend will continue into the foreseeable future as long as the success of the Western Cape continues.
Developers say the re-use of sturdy skeletons and foundations in these buildings keeps costs below those of new construction. Even with extensive renovations, it takes about half the time required to erect a new facility. The high ceilings, clerestory windows, and skylights are desirable for small manufacturers. Additionally, they offer aesthetic value to office tenants.
Profit is the dominant incentive for rehabilitation. Furthermore, there may be a desire to preserve historic architecture. However, contamination that resulted from industrial pollution sometimes hampers sales.
In conclusion, recycling of outdated industrial buildings looks like a trend that will continue for many more years.