Benefits of Airspace Development
Airspace development — the process of building above existing structures, typically adding new floors or even entirely new buildings — offers several benefits to owners of suitable buildings. Here's a breakdown of the key advantages:
1. Unlocking Hidden Value
-
Increased property value: Adding new units or floors increases the usable square footage, thereby boosting the property's overall market value.
-
Monetising unused space: Airspace (the space above a building) is often overlooked — developing it allows owners to capitalize on an underutilised asset.
2. New Revenue Streams
-
Rental income: Additional units can be leased, generating steady rental income.
-
Sales profits: Owners can sell the newly developed units or the airspace itself to a developer, creating a one-time capital gain.
3. Urban Demand and Planning Incentives
-
Meeting housing demand: Cities facing housing shortages may support airspace developments, making it easier to get planning permission.
-
Planning advantages: Some local governments offer relaxed planning regulations or incentives for airspace development, especially if affordable housing is included.
4. Building Refurbishment Opportunities
-
Modernisation funding: Income from airspace development can fund building renovations, upgrades, or maintenance that would otherwise be unaffordable.
-
Improved aesthetics and functionality: New development can include elevators, better insulation, or modern utilities that benefit all tenants/owners.
5. Potential for Partnerships
-
Joint ventures: Building owners can partner with developers who fund and manage the project in return for a share of profits — low risk, high reward.
-
Minimal disruption: With modern construction techniques (e.g., modular building), disruption to existing tenants can be minimised.
6. Tax and Financial Benefits
-
Depreciation and write-offs: New construction can offer tax depreciation benefits.
-
Improved loan terms: A higher property value may result in better financing options or refinancing opportunities.
Bringing Your Airspace Potential to Life
We believe that seeing is believing — we help you visualise the transformation of your rooftop into valuable new living space.
Our visuals highlight the development's design and potential and demonstrate how seamlessly it can integrate with the existing building and surrounding environment. Whether you're a property owner, investor, or resident, our goal is to make the vision tangible, so you can confidently understand the benefits and possibilities of building upwards.
