Real Estate Implications of the Transformation of Sacred Space: Approaches to Problem-Solving in the Context of Market Demands and the Estimation of Non-Monetary Values

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Based on the results of the research group, TP 5 will expand the decision-making situation for sacred space transformation to include classic real estate economic elements as well as modern methods of pricing intangible values and positive external effects. In this sense, an ongoing, detailed analysis of the market situation in both study areas (market and location analyses) was carried out. In the first phase, the focus of the analysis of the subsequent uses was primarily on factual processes, structural and procedural organisation, commercial aspects, stakeholder analyses, feasibility of operating concepts and successes in realisation. Achievement of objectives: The objectives set were achieved in phase 1. The results of work blocks 1-3 are currently being summarised in an advanced "Commercial Practice Guide for Sacred Space Transformation". One of the main challenges is the different starting position compared to ordinary conversions; conflicts and tensions among stakeholders as well as the factor "emotions" are even more pronounced than expected. Also, the "translation" of the perspective of business people and potential future investors/financiers on the property in the case of "outgoing church demand" was challenging due to the typically low level of knowledge in this area among the stakeholders. Due to the Corona pandemic, site visits were only possible on a very selective basis and there was largely no personal exchange on site. Many of those involved fear the loss of sacred practices or the commercialisation of church buildings. It is therefore all the more important to allay the fears of the stakeholders in personal exchange and to build bridges to the real estate industry. What is also challenging here for church representatives or typical owners and promoters of the projects is that basic commercial document structures/requirements are often not kept on hand and their relevance for the successful implementation of projects is underestimated. In addition to various own elaborations, three master's theses were completed, from which some concepts could be taken up. In this context, various helpful expert interviews were also conducted, which were incorporated into the results of TP 5.