According to Elena Shulyak, General Director of Midland Development, redevelopment of industrial territories can be profitable and successful for a developer if he correctly evaluates the state of affairs, takes into account all possible risks and obstacles. She identifies three main conditions, observing which, the developer can achieve success in the redevelopment of industrial territories.
First, it is the proper location of the object. Only in this case it is worth thinking about whether to enter the project or not..
Secondly, on the territory of industrial zones, the presence of harmful production in the past is undesirable, since it will certainly reduce the number of people who want to rent an office and retail space there..
Thirdly, the cost of entering the project should be minimal. It is the last criterion that is decisive when choosing a redevelopment object. In addition, Elena Shulyak says that there is a complex and partial redevelopment of industrial territories..
Comprehensive redevelopment involves changing the purpose of the land, developing and agreeing on a completely new project. If necessary, the organization of the adjacent territory, the construction of transport interchanges and engineering networks are carried out. In case of partial redevelopment, the project is developed within the limits of available possibilities — usually, existing objects are reconstructed or redeveloped. Olena Shulyak noted that today in Ukraine there is no sufficient legislative basis for the development of redevelopment of industrial facilities.
