Landlords Warned to Invest Heavily in Seismic Strengthening
A top property consultant is warning landlords nationwide not to skimp on seismic strengthening of buildings or it could end up costing them more in the long-term.
The Director of Hampton Jones, Brian Jones, says the outcome of New Zealand seismic research is expected to change the face of commercial property in this country.
He believes the research will inform changes to current seismic standards, which will impact building owners and occupiers throughout the country.
Jones says the actual costs of strengthening a building are not always as significant as people believe, particularly when compared with the loss of income incurred through un-tenanted space.
“Those landlords undertaking strengthening work in the short term may wish to go beyond meeting current minimum strengthening standards as I believe the building standards will be increased once the review of current standards has been completed,” says Jones.
Jones says while it may cost the landlord more, new seismic research currently underway, has the potential to be of huge economic benefit to the country as we become world experts in this field.
He says organisations like GNS Science along with Canterbury and Otago universities are already beginning to yield valuable insights into their studies of building design and the performance of construction materials during earthquakes. This information is now being used to inform national seismic codes.
Jones sees this research as a huge economic growth opportunity for New Zealand and says we are likely to become the international leaders in the study and construction of seismic resistant building.
“Our entire country is exposed to seismic and volcanic risk and as we have a large percentage of the population who would be at risk in the event of a significant event. There is a pressing need to continue the research into those areas.”
“We know that it is possible to build buildings that are economically resilient after a seismic event,” he says.
Jones says, while his company’s expertise lies in the seismic performance of buildings, rather than seismic research, he believes continuing research is likely to be of significant financial benefit for New Zealand as a whole.
“We are becoming experts on how to build buildings that are economically resilient after an earthquake so that they can be quickly and economically repaired after a seismic event.”
Jones says extensive research into the geography of the Canterbury region leads him to disagree with the widely held belief that the cost of construction in Christchurch will skyrocket in a bid to build more seismically resistant buildings.
He says the detailed knowledge and data collected on the stability of land in Christchurch means the cost of building will be on a par with the rest of the country.
Jones says the new emerging seismic building standards will apply to the whole country not just to Christchurch and means greater safety and economic benefit to region inhabitants.
For more information, visit www.hamptonjones.com