Most CFOs still assume sustainability costs more. Oxford Terrace, Christchurch shows the opposite.
After severe earthquake damage, the owner faced two options:
OPTION A — DEMOLISH & REBUILD (modelled scenario)
• NZD 15M capex
• 32-month timeline
• 1,046 tCO₂e upfront embodied carbon
OPTION B — STRENGTHEN & RETROFIT (Post-Tensioned rocking)
• NZD 9M capex
• 27-month timeline
• 203 tCO₂e upfront embodied carbon
He chose retrofit.
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THE RESULTS
Based on a like-for-like rebuild benchmark using verified material CO₂ data:
• 81% reduction in upfront embodied carbon (~843 tCO₂e avoided)
• 5 months earlier return to market
• 30% higher Net Present Value
• IRR increased from 12.4% to 18.1%
• Seismic upgrade from 34% to >100% NBS
• +74% average apartment sale uplift vs rating valuations
This was not philanthropy.
It was capital efficiency.
———
WHAT MADE IT POSSIBLE?
• Controlled rocking interface at the base
• 37m-long vertical post-tensioned tendons
• Superstructure tied from top to base
• Energy dissipation with re-centering capability
Resilience restored.
Material mass preserved.
Demolition avoided.
———
THE BIGGER PICTURE
Choosing retrofit over rebuild delivered:
✔ Lower capital outlay
✔ Lower carbon
✔ Faster cash flow
✔ Higher investment returns
✔ Award-winning engineering
Retrofit-first is not a compromise. It is a strategy.
If faced with the choice, would you retrofit or rebuild?
In partnership with Terrascope and engineered by BBR VT International & Contech Engineered Solutions NZ this is a proof that climate action and financial performance can align.
Recognized at the Structural Awards 2024
Full detailed report here
