They can often gut buildings and refit them keeping key parts of the original façade, but it's a much more costly and complicated project often than just ripping down and starting again.If it was solid and functional I could understand the argument of trying to incorporate it. But every old player you hear from says it was derelict in their time, riddled with rats and possums and leaks when it rains.
You might be able to recreate it, but so much of the original would have to be replaced. It’s be like taking the engine from a vintage car, putting it in a new body and claiming it’s the original car.