Reconceptualization is a change of the idea (concept) of a project or property, its positioning and, accordingly, any of its characteristics, aimed at increasing its value, attractiveness to consumers (customers, tenants, visitors), starting with the audit of the existing facility, calculating the estimated figures (development and implementation of measures for the reconceptualization of the project on a turn-key basis).
A unique project team is created for implementation of each project, which includes consultants, analysts, marketing managers, engineers, architects. Lawyers, financiers and brokers also participate in the project acting as experts.
Recommendations for reconceptualization are based on data obtained from the real estate market:
1) audit of the current state of the facility (management structure, budget revenue and spending);
2) analysis of the potential target audience of the facility;
3) analysis of the location of the facility and its environment (transport infrastructure, etc.)
4) analysis of the real estate markets in competitive areas;
5) formation of a detailed functional concept of facility adjustment;
6) formation of the profit element of the facility. Development of a financial model and analysis of the investment attractiveness of the developed concept;
7) creation of a task force and development of a detailed scheduled plan for implementation of measures for reconceptualization of the facility;
8) implementation of the scheduled plan;
9) management support up to the achievement of the key projection data.