In the catholic church there is a very specific ceremony for consecration of the church, whether that be a new church or rebranding is immaterial as no other consecration will be applicable to canon law other than the RC rite as carried out by the appropriate person (diocesan bishop etc). Virtually any place can be consecrated if deemed appropriate enough. "Of consecration proper the Roman Pontifical contains one of persons, that is of a bishop, and four of things, that is, of a fixed altar, of an altar-stone, of a church, and of a chalice and paten."
I'm not really sure about paint colours, but the essence of the service/ritual is to separate out the diviine place of worship (dedication) the "setting aside" of places for a special and sacred purpose. It involves a service with ashes being dranw out, and holy water being sprinkled on walls and columns with lots of chanting and cantations.