Colliers International advises on maximizing the value of historic buildings in developing countries like Myanmar. There are two categories: heritage townscapes consisting of groups of historic structures that collectively represent cultural legacy, and heritage landmarks that stand out individually through architecture. The firm helps determine appropriate uses like restaurants, shops or museums that respect a building's heritage while ensuring financial viability. Examples include Plymouth, England where a historic harbor area was restored to become a popular tourist site, and Liverpool's Gladstone Conservatory that was renovated into an events venue successfully used by a football club.

1. PROPERTY 24
February 25 - March 3, 2013 THE MYANMAR TIMES
I
N Myanmar, as in Francis Drake sighted the
many developing Spanish armada while
countries, historic
buildings are often
seen as roadblocks
in the face of
progress. Too often,
it is simply seen as easier
playing bowls. The most
historic part of Plymouth,
around the old harbour,
or the Barbican, became
a slum by the first half of
the 20th century, and by the
Making the most of a c
and more profitable to just end of World War II plans
knock them down and erect were in place to replace
new, modern structures in much of the area with
their place. new housing. Fortunately,
But people and countries a group of locals realised
invariably come to regret what Portsmouth would lose
such an approach, quickly with the redevelopment of
realising that their historic this historic harbour area,
buildings are a treasure, a and set up an organisation
unique and integral part of to take ownership of the
their culture that, once lost, buildings and restore them.
can never be retrieved. The Barbican is now full of
Colliers International, a restaurants, shops, offices
worldwide property services and up-market houses. It
company that provides is the most popular tourist
research, consultancy attraction in the city and
and agency services for amongst the most popular
companies in Myanmar, has places in the city to live
a department that provides and work. Quite simply,
advice on how owners, people like it because it is
developers and governments different.
can make the most out of But Plymouth isn’t alone,
the country’s historic and there are plenty of
buildings. The service, similar cases around the
Colliers International world.
Destination Consulting, is
based in London but works A case in point: Carnaby
all over the world. There are Street, London
two categories of heritage The London-based company
buildings the firm works Shaftesbury is one of the
on: heritage townscapes and best developers of historic
heritage landmarks. buildings in the world. The
Heritage townscapes are company’s approach is to
groups of historic structures. buy property in sections of
The individual structures central London and turn
might not be particularly them into urban villages.
important in their own Shaftesbury’s projects on
right, but collectively they Carnaby Street in London’s 1
constitute an important West End have received
historical or cultural particular praise. The hub use for an historic building, an assessment of which changed. several possible futures.
legacy. of the “Swinging 60s” in beginning with the physical elements of the building are Colliers is assessing However, an important
One Colliers survey, London, it is an area of nature of the building and important from a heritage options for a historic decision will have to be made
involving 35,000 people relatively small, historic its surroundings, which perspective and must be Baptist chapel built in the about whether the wooden
living across the UK, asked buildings. determine the possibilities. retained, and which are 18 th century. Located in benches are essential to the
what people thought of Shaftesbury works by Colliers starts by making less important and can be a prosperous town, it has character of the building; the
different cities and towns establishing a vision for
as tourist destinations. The the type of occupier they
survey found that there was want before creating a name
a high correlation between and brand for the area and
the number of historic improving the local area,
buildings in towns and working in partnership
cities and their popularity with local authorities. As
as visitor destinations. a result of the company’s
Simply put, the areas with work Carnaby is again one
the most historic buildings of the most popular and
are usually the places that commercially successful
are most popular to visit, parts of London.
and are often also the most Heritage landmarks, the
popular places to live and second category that Colliers
work. deals with, are structures
But historic buildings that make an impact in their
do not constitute the only own right and come in many
attraction these towns have different forms, from temples
to offer — the ways that to factory buildings.
historic buildings tend to
be used is also critically Another success story:
important. Gladstone Conservatory,
Historic parts of towns Liverpool
and cities in many parts of The Gladstone Conservatory
the world are vastly different is a Victorian palm house
from other sections of towns located in a historic park
and cities. They tend to sandwiched between the
have more hospitality stadiums of Liverpool’s
destinations — restaurants two famous football clubs:
and bars tend to like Liverpool FC and Everton 2
historic buildings because FC. The building, built 150
they have more character years ago, was derelict, and
than modern buildings and Liverpool FC wanted it to
present a natural edge over be restored, and Colliers
the competition. For the recommended that it be
same reasons, historic areas turned into a function
usually have unique shops centre.
not found in other parts of The iron and glass top
town. Businesses in creative section was taken away,
industries tend to like the restored and replaced,
qualities of older buildings while a lower building was
and older neighbourhoods built. The centre contains
because they provide a restaurant, kitchens and
inspiration to designers and other services. The glass
artists. house on top is a large, open
While it is easy to lose space for functions with all
these historic areas during the services underneath.
a development boom, it is The venue is extremely
almost always regretted. successful, and is used by
The Colliers Destination Liverpool FC for entertaining
Consulting team recently guests before matches.
worked in the English port There are three
city of Plymouth, famous considerations to make
as the location where Sir when deciding on the best 3

2. 25 PROPERTY
THE MYANMAR TIMES February 25 - March 3, 2013
or historically interesting now called the Victoria
and can be made into tourist Quarter. It is known as the
city’s historic buildings attractions, museums or other
cultural centres, these rarely
have significant commercial
value on their own.
Region success: the
Knightsbridge of the North.
London’s famous Regent
Street is a classic example
of historic building
development. The street
was not performing well in
National Art Gallery, the 1980s, so its owners, the
Singapore Crown Estate, revamped
The Singapore City Hall the entire road, envisioning
and adjacent Supreme an upmarket locale occupied
Court have witnessed many by flagship stores of
important events in the international brands. Most
country’s history. Admiral of the buildings have been
Mountbatten accepted the redeveloped to create modern
surrender of the Japanese interiors behind the historic
forces in the City Hall on facades. The combination
September 12, 1945, and of historic architecture and
the building housed the modern interiors makes the
office of Lee Kuan Yew area extremely attractive to
when he became the first international firms looking
prime minister. City to move into London. The
Hall continued to house street now boasts the
government departments flagship stores of several
until it was vacated in 2005. international brands, in
The Supreme Court Building, addition to its iconic
built between 1930 and 1939, traditional tenants, such as
served the judiciary system Liberty Department Store
of Singapore. Its façade was and Hamleys toy shop.
designed to match City Hall, Heritage plays a significant
with classical architecture role in this.
and corresponding Regent Street and nearby
Corinthian columns. Both Bond Street have become
buildings were listed as two of the most sought after
national monuments in shopping streets in the world
1992, and are now being because they have been able
remodelled to a design by to put modern retail space
the French architectural behind historic façades.
firm, Studio Milou, to form a The lesson here is that
National Art Gallery, which great things can be done
is scheduled to open in 2015. with Myanmar’s historic
It is designed to strengthen buildings. Finding a way
Singapore’s role as a regional to do it, rather than losing
and international hub for the buildings, will have an
4 visual arts through the important impact on the
display, promotion, research success of the country as
benches will determine the a hotel in one place because concerns funding and historic buildings are often and study of Southeast Asian a place to invest, visit and
possible uses for site. there is a market for it but project management: where quite expensive to restore and Singapore art. At 60,000 live.
A second consideration is in many locations there’s no the money will come from and require significant square metres it will become Closer to home, what does
what use the building can need for such lodgings and and who can take charge maintenance. one of the largest visual arts the future hold for Yangon’s
serve in future. An historic another use must be found. of completing the work. And while some old venues in the region. Secretariat building?
building might be perfect as A third consideration This is challenging because buildings are architecturally However, the estimated The Secretariat building in
cost of the project is US$430 Yangon is a perfect example
million, which shows how of a heritage landmark. It
costly restorations can is central to the country’s
be. Colliers International history, occupies prime land
consultants provided in the middle of the downtown
master planning, concept area and its architecture is a
development and business unique example of a bygone
planning advice for the era. There have been calls
project. to turn it into a heritage
Historic buildings often, attraction and/or a museum,
however, also have intrinsic similar to what has been
commercial value if restored done in Singapore, and that
properly. is one option that should be
Businesses often like examined.
to occupy older buildings The building is very
because of their character, large, however, and using it
and historic buildings are entirely or predominantly for
useful as features for modern that purpose and for other
developments. Upmarket cultural purposes would be
businesses in particular tend expensive — both to build and
to occupy historic buildings to operate. It may be that a
where possible because their mix of uses, some commercial
exclusive nature lends itself and some non-commercial,
well to their brand. The would be a better use of
luxury shops in Cabot Circus, the building. The building
a new shopping centre in is well-suited to hosting a
the English city of Bristol, hotel, conference facilities,
5 overlook Quakers Friars, a residential facilities and
chapel that is one of Bristol’s offices. If properly planned,
1. A couple walk hand-in-hand through one of the two arcades that form a part of the Victoria Quarter in Leeds, most historic buildings and these can all comfortably sit
often described as one of the UK's most beautiful shopping centres. has been developed as an alongside a museum and
2. The interior of Gladstone Conservatory in Liverpool before it was renovated. upmarket restaurant. The cultural icon that respects
3. Gladstone Conservatory before its renovation. same approach has been the history of the building.
taken in the northern city This opinion article was
commercial success.
5. The renovated Gladstone Conservatory is used by English Premier League football side Liverpool FC to host of Leeds, where the smartest contributed by Colliers
special guests before home games. Pics: SUPPLIED/ Colliers International Destination Consulting designer fashion shops are in International Destination
restored Victorian Arcade, Consulting.