The concept of transferrable Heritage Floor Space was introduced by the City of Sydney in the early 1990s. It was specifically aimed at the owners of listed historic buildings in the CBD, offering them an alternative asset strategy to simply redeveloping to the maximum available floor space provisions. The alternative enables historic building owners to conserve their buildings, irrespective of their size and scale, while earning an award of 50% of the available floor space for their site, as a tradeable commodity. In conjunction with a range of architects, GBA Heritage successfully managed the applications and awards of Heritage Floor Space in the late 1990s and early 2000s, including a number of innovative approaches to achieving a preferred degree of conservation and compliance upgrades through detailed conservation management plans and schedules of conservation works for subsequent verification prior to sign off. Sydney City Council has recognised the continuing need to provide periodic funding for the on-going conservation and compliance upgrades of listed heritage buildings in the city centre. It now enables a second round of Heritage Floor Space applications provide 25 years has elapsed since the original HFS award was signed off by Council.