62 The above conclusion, therefore, then necessarily leads to consideration of the further issue of whether or not the cost of undertaking the stabilisation and renovation works, at the highest level of cost postulated by the applicant, is so unreasonable that demolition should be permitted.
63 As noted earlier, even taking all matters proposed by the applicants as requiring expenditure and accepting their costings at their highest, the total costs of retention and remediation is ~$360,000.
64 Expenditure of this sum would lead to the present dwelling being rendered stable and entirely habitable to a very high degree of certainty with a low to very low risk of this not being achieved. The dwelling would also have its general level of amenity improved significantly.
65 There would, on the evidence of Mr Logan, also be a possibility of a sympathetic extension into part of the roof space without compromising the heritage contribution made by the dwelling to the conservation area.
66 On the other hand, the original Development Application put the cost of demolition as $12,000 and the cost of the completed replacement dwelling as $585,000. These costs were subsequently revised so that the total costs of the demolition and construction of the new dwelling were a little less than $500,000 rather than the initial ~$600,000.
67 Even to the extent which I should take into account that there might or would be an understandable preference by the applicants for a new, modern dwelling on aesthetic and/or perceived amenity grounds, there is no economic imperative, on these figures, to conclude that refusing demolition of the existing dwelling would impose an unreasonable financial burden on the applicants compared to the cost of demolition and rebuilding. I am also satisfied that the level of amenity which would be enjoyed by residents of a rectified/remediated building would be more than merely acceptable..
68 Assuming that discounting the cost of the new dwelling to take account of increased amenity or space to be provided by it compared to that which would be available in the existing dwelling (if remediated as proposed in (28)) might be appropriate, I am not able to do so with any mathematical precision as such an approach includes significant subjective considerations and is not merely a question of, for example, merely comparing available usable floor areas.
69 However, I am satisfied that there would, even allowing for differences between that which is there now and that which is proposed to replace it, be no reason to conclude that refusing demolition of the existing dwelling would impose an unreasonable financial burden on the applicants - even if it were necessary to incur the full range of expense or undertake all works set out in (28) above. The council, as noted earlier, does not accept that this range of expense or works is necessary. Given the conclusion I have reached on the position most costly for the applicants, I do not need to consider the objections put by the council to any element of these works or costs.