Treasury department plans new lease of life for disused buildings

The Treasury Department is considering leasing out older and disused buildings for commercial development if the lessee pledges to preserve their historical, architectural or cultural value.

The department’s director general, Amnuay Preemonwong, says it would be a better option than seeing them abandoned and becoming increasingly dilapidated causing health and safety risks to neighbours. But the proposal will not apply to buildings formally registered as historic sites.

The department has about 200 such buildings around the country in its inventory, all signed over by state agencies. Amnuay said some buildings in Ayutthaya could be turned into boutique hotels or leased out for movie shoots.

Amonrat Klampob, the department’s adviser on real estate development, said 60 of these buildings could be redeveloped now, 21 of them in Bangkok.

“The lessee would have to collaborate with the department on plans to preserve their inherent value.”

SOURCE: The Nation