Cost Plan

The cost plan we have used for the renovation of the existing concrete structure aligns with our development plans on many levels. The structure is also that of pre-cast concrete and was built in the same decade (1960s). This ensures that we have likely included the relevant works required in order to renovate a building of this style. Further to this, the example also has the use of residential apartments, which matches the development proposal. Enhancements have been made to some costs whereby scope differs between the projects, an example is the introduction of PV panelled cladding onto 2 of the faces of our building. As such, we have embedded additional costs, which are extra over that of the original cost plan. We rebased the BCIS cost to London, assumed start date of Q2 2027 in order to ensure relevant inflation and cost adjustments have been applied. We have also adjusted the costs to reflect the change in location of London to Berlin, market research has suggested that Berlin construction costs are 71% of those in the UK, as such we have reduced the overall budget by 29%. We have also made considerations for site specific risks which are independent to the development site. As such, we have included allowances for professional fees for the following risks;

· Asbestos Survey

· Asbestos Removal

· Site Survey

· Fire Strategy

· Removal of existing squatters within the building

· Removal of any drug paraphernalia from the vicinity

· Structural Engineer Fees

· Concrete Survey

Previous project Cost Analysis used to develop the cost plan for the proposed commercial building.