The real estate industry is experiencing a fundamental shift from "build new" to "rework, repurpose, reimagine" as it grapples with 120 million square feet of vacant UK office space, a 4.3 million home shortage, and the built environment's responsibility for 40% of national carbon emissions. With 80% of 2050's buildings already existing today, adaptive reuse offers a transformative solution that can reduce carbon emissions by 50-75% compared to demolition while addressing housing shortfalls and creating vibrant, sustainable communities.

In recent years, the real estate industry has confronted unprecedented challenges spanning economic volatility, evolving social needs, environmental imperatives, and shifting regulatory frameworks. These pressures have catalysed a period of innovation, compelling the industry to reimagine its fundamental approach to development and asset management. As urban land becomes increasingly scarce and valuable, and environmental sustainability moves from aspiration to requirement, the conventional wisdom of new construction is being replaced by more strategic, resource-conscious alternatives. This Spotlight report examines how leading industry professionals are navigating this transformation, exploring the practical challenges, emerging opportunities, and proven strategies that are reshaping how we think about building repurposing in today's dynamic market landscape.