Highest & Best Use Studies
Highest & Best Use studies (HBUs) are complex assignments which explore alternative scenarios of potential uses to determine maximise economic returns to the owner. The outcome is thus, legally permissible, physically possible, financially feasible and most profitable. Some clients can already address legal and physical aspects with their in-house team and ask us to focus on the later two steps. A repositioning study has similarly many of these considerations. In fact, we do include other uses, including retail, residential and office in these projects. Most interesting are younger concepts which introduce service elements to any of those three. Given that standalone full-service, and particularly luxury, hotels and resorts are becoming less common, we do find branded residential components to become almost the norm.