This is best understood by looking at each of the key terms individually and with examples.
Stock can be any asset of the built environment:
- Assets – buildings or components these may be, for example, domestic, commercial, industrial or institutional;
- Spaces – for example: public spaces, parks, pavements; private spaces, corridors, atria;
- Facilities – for example: provision of lighting, accessibility;
- Attributes – for example; material, measure, location.
Condition is the criteria by which the stock is to be judged.
Typical condition issues include;
- State of repair or disrepair;
- Physical state and need for maintenance;
- Existence of components;
- Health and safety;
- Fitness for purpose;
- Capacity to meet regulatory requirements;
- Capacity to meet performance requirements.