The grants provide up to half of the costs for services such as seismic assessments, conservation reports, architectural and structural engineering plans.
Many regional building owners can also apply for up to 67 per cent of the cost of upgrading, and multiple building applications can seek funding of up to 67 per cent of professional advice costs.
Johnson says the changes are an acknowledgement by the Government that owners of commercially-utilised heritage property in the regions face particular challenges, with lower rental incomes and capital values than those in major cities.
This often doesn't justify upgrade expenses, and there can also be a local shortage of professional advice.
"The recent boost to government assistance available through the EQUIP scheme is potentially a game-changer that unlocks the conundrum for owners who face prohibitive strengthening costs," says Johnson.
"Regional centres with high concentrations of heritage buildings and medium or high seismic risk, such as Napier and Invercargill, look particularly well poised to benefit from EQUIP funding."
The Property Council has long-supported retaining heritage buildings where practicable, but calls for pragmatism and balance.
The Milton St Substation in Sydenham, Christchurch, was built in 1928 by the Municipal Electricity Department (MED).
It is the largest remaining example of the classically influenced substations built in Christchurch during the art deco period, and is listed as a heritage site in the district plan.
It suffered damage during the quakes of 2010 and 2011. First-time developer Clark Mauger bought the substation in 2017.
