I asked a friend who does do this type of thing for a living and he said no one can answer your question the site needs to be inspected first and the same with the current equipment in place.

But he did say it is much cheaper to keep fixing old then replacing with new which is why so many people do this.

Your best bet it to try few companies get them to have a look but most will want to charge a fee for coming out to take a look mate said it will be few hundred for that

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Thanks for helpful comments grumpymort !

They service our lifts, according to my neighbour who is Treasurer for our Flats (we run our own company) he would happily sack them but they have the spare parts. For now we are tied to them but if we go for a new lift one day I don't think we will choose them.

His main issues are:
- They never respond to his letters / emails / complaints.

- The engineer who services our lifts if he cannot get access to the building marks it down as done rather than them informing us he couldn't get in.

I could go on but we are not impressed.

One more point

Showing my age, but when Schindler’s List (after the book Schindler’s Ark) came out, my first thought was of the lift company.

Palace since 19 August 1972. Palace 1 (Tony Taylor) Liverpool 1 (Emlyn Hughes)

"you've been shafted", seems an appropriate phrase to use

I disengage, I turn the page.