By Adam Daly, Modernisation Director, ANZ
The built environment is not judged solely by what buildings look like; it’s defined by how it makes people feel. From tenants and workers to customers and visitors, experience is becoming the true measure of a building’s value. Modernising ageing infrastructure at the heart of buildings is key to maintaining value, attracting occupants and building long-term resilience.
The skylines of Sydney, Melbourne and Brisbane continue to densify, with the focus of the property industry often fixed on the new – the glass-curtain towers and the architectural marvels currently under construction. Yet, 80% of the buildings that will exist in 2050 have already been built, and for those tasked with managing the longevity and value of our existing urban fabric, an important story is unfolding behind the scenes, specifically within the lift shafts of buildings constructed during the construction booms of the 1960s, ’70s and ’80s.
The infrastructure inside these aging towers is approaching a point where upgrades can help maintain optimal performance. I frequently discuss the untapped potential within buildings – opportunities to improve performance, efficiency and occupant experience, and future-proof assets through modernisation.
The opportunity in modernising infrastructure
In a competitive leasing market, elevator reliability is a daily touchpoint through which every tenant judges a building's management, and a daily reinforcement of tenants’ trust in the building assets.
Many of the commercial and residential towers that define our major cities are now 40 to 50 years old. As buildings evolve and new technologies emerge, facility managers and strata committees have the opportunity to modernise their lifts so performance aligns with current user expectations, operational requirements and sustainability goals, while minimising disruption to daily building activities.
Shifting mindset from repair to reinvestment
Historically, modernisation has been perceived as a major capital investment, leading many building owners to defer upgrades for a later time. The choice is often framed as a binary: keep repairing the old system or perform a full replacement. This ignores the sophisticated middle ground: partial modernisation.
However, we are seeing a strategic shift among leading asset managers who now view modernisation as a critical tool for future-proofing their assets or businesses.
By replacing specific high-impact components – the control system, the hoisting motor, or the door operators – while retaining existing structural elements – think guide rails and car frames – we can deliver the benefits of a new lift at a significantly lower cost and with minimal disruption.
At the same time, advances in modernisation delivery are removing many of the traditional barriers to investment. With solutions such as MonoSpace Upgrade, essential lift components, including electrification and signalisation, can be modernised in as little as one week, significantly reducing downtime and disruption for tenants.
The role of partial modernisation
For cities to become more dense, they must become more liveable. Mobility is a vital part of this equation. The advantages are multifaceted.
- Resilience and reliability: By integrating 24/7 connected services, we can move from reactive to proactive maintenance. Today, 80% of issues can be handled proactively with real-time detection. We have also found that connected units experience 30% less downtime compared to non-connected units. We are catching issues before they lead to a "lift out of service" sign, ensuring the building remains resilient and functional, particularly in the eyes of tenants.
- Sustainability and energy efficiency: The property sector is under immense pressure to reduce embodied and operational carbon. Fully replacing an elevator is a carbon-intensive process.
In contrast, upgrading an existing system instead of replacing it entirely can cut embodied carbon emissions by up to 78%.Furthermore, modern regenerative drive systems can reduce the energy consumption of a lift by 40-60%, contributing directly to a building's green credentials and reducing operational costs**. - Safety and compliance: Modernisation allows buildings to meet accessibility requirements, safety standards, and the heightened expectations of tenants and visitors compared to half a century ago. Features like more accurate levelling at floors, improved lighting and modern emergency communication systems are not just nice-to-haves; they are essential for mitigating liability and supporting safety.
- Preserving rental income: While a full lift replacement can take longer, partial modernisation can often be completed. in stages, sometimes in a matter of weeks, with much of the work occurring during off-peak hours. This minimises the impact on tenant experience and protects the revenue stream for the building owner or other property owners within the building.
A measured approach to asset management
In 2026 and beyond, the goal for every building owner in Australia should be to ensure their assets are as dynamic as the cities around them. By investing in lift modernisation today, we are doing more than upgrading infrastructure; we are enhancing the productivity, sustainability and value of our urban environment.
Through our asset management plans, we provide asset owners with a clear roadmap of their equipment’s health, performance and remaining life. This allows for planned, budgeted upgrades rather than emergency, high-cost repairs.
* Calculations based on environmental product declaration (EPD), verified by third-party. A MonoSpace® upgrade was used in this calculation.
** Level of regeneration depends on specification of the elevator and building. 40-60% based on 18-floor, 1,800kg elevator configuration.
