ARTICLE
2 June 2020

Sustainable Development - The Value Of Preserving Old Buildings

H
Hassans

Contributor

Full service law firm established in 1939 with 46 partners, 50 other lawyers and 250 staff in total across two offices in Gibraltar and Sotogrande, Spain. Hassans are trusted advisers to clients both locally and overseas, who seek legal guidance in a fast-moving, multi-jurisdictional world. We aim to solve our clients problems with specialist tax advice, litigation, funds, FinTech, corporate and commercial, private client, financial services and trust solutions. Many of our assignments are cross-border and we have considerable knowledge of other key jurisdictions.

For developers who come by an old and dilapidated property, the age-old question is whether to demolish and build something new on site, or refurbish and retrofit. Unfortunately, high property values...
Gibraltar Real Estate and Construction

For developers who come by an old and dilapidated property, the age-old question is whether to demolish and build something new on site, or refurbish and retrofit. 

Unfortunately, high property values and geographical constraints in Gibraltar often give way to the former. Whether the decision is taken to demolish a building completely or retain its facade and gut it internally (which has become a popular option near Gibraltar's Main Street), the result is an unprecedented loss of heritage, the extent of which will likely only be appreciated by future generations when the materials and workmanship used within these buildings has become a rarity. 

Decisions to demolish are often flanked by excuses to the tone of 'it's beyond repair' or 'it is the only way to make the development viable'. The latter excuse usually means - it is the best way to make the highest short term financial return. 

However, it does not have to be this way.  Many old buildings have been sympathetically restored and retrofitted locally and there is a growing wave of sympathetic development. Given the economic, environmental and historic advantages, I would say it is a step in the right direction!

These buildings have often stood for well over 100 years, and are in fact rarely 'beyond repair'. It is up to us to recognise that they can take much more if allowed to do so, and to employ methods to bring them up to date in terms of user comforts. This is the greenest form of construction and it is the plain old buildings which we would not look at twice which would provide the most benefit by maintaining and restoring. 

Originally published 20 May 2020

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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