Critical Success Factors (CSFs) for the Adaptive Reuse of Industrial Buildings in Hong Kong

With the economic restructuring during the 1980s and 1990s in Hong Kong, most manufacturing plants were relocated to China and many industrial buildings were left neglected or vacant. At the same time, owing to limited land supply, a shortage of affordable housing has been a problem in Hong Kong for many years. Adaptive reuse of industrial buildings may be a way of solving this problem. However, adaptive reuse is not an easy decision because there are many factors affecting adaptive reuse. Therefore, this paper examines the current situation of adaptive reuse of industrial buildings in Hong Kong and identifies a list of factors affecting the adaptive reuse of industrial buildings. Six factors are considered Critical Success Factors (CSFs). Based on a Principal Component Analysis, 33 factors are grouped into eight principal components, namely, sustainability, economics and finance, the market, changeability, location and neighborhood, culture and public interests, legal and regulatory matters, and the physical condition of the building. The identified CSFs and principal factors provide a useful reference for various stakeholders to have a clear understanding of the adaptive reuse of industrial buildings in Hong Kong, especially for the government to review current policies of adaptive reuse.