There’s more incentive than ever to get renovation of historic buildings right, as companies compete to move in to them.
Whether it’s the sweeping landscape of endless timber floors, high ceilings or windows that open, or merely the warm glow that comes from knowing you’re part of the preservation of history, working in a heritage building is more popular than ever before.
Technology start-ups, consulting and marketing firms, boutique financial organisations and international law firms are all attaching the personality and identity that comes with historic buildings to their own brands.
Restoring turn of the century buildings such as the so-called Money Box development in Sydney’s Martin Place (the former Commonwealth Bank headquarters) or the award winning 130-year-old wool store on Harris Street in Pyrmont, is an attractive proposition to tenants looking for a unique offering.
For developers, the prime position and grand structural bones of such buildings provide enticing opportunities to re-purpose and update, despite the sometimes difficult floor plans and outmoded services. Critically, this prolongs the life of the property, ensuring long-lasting appeal of some of our most iconic buildings such as Sydney’s Australia Square or Grosvenor Place.