HYBRID PLANNING APPLICATION FINANCIAL VIABILITY ASSESSMENT JANUARY 2021
AUTHOR GERALD EVE DOCUMENT REF EBR-16 REVISION 01
A Financial Viability Assessment in relation to Planning Contributions relating to:
Ebury Bridge Renewal
On behalf of: Westminster City Council’s Regeneration Team
January 2021 © copyright reserved 2021 Gerald Eve LLP
72 Welbeck Street London W1G 0AY Tel. 020 7493 3338 www.geraldeve.com
Ebury Bridge Renewal Financial Viability Assessment
This assessment has been produced having regard to and abiding to the requirements of RICS Professional Statement Financial Viability in Planning: conduct and reporting (1st edition 2019). Appendix 1, where applicable provides a guide to where in the report the requirements have been adhered to.
2.1 In preparing this viability assessment, we confirm that we have acted with reasonableness, impartiality and without interference. We have also complied with the requirements of PS2 Ethics, competency, objectivity and disclosures in the RICS Valuation – Global Standards 2017 in connection with valuation reports;
2.2 This document sets out our terms of engagement for undertaking this viability assessment (Section Terms of engagement and report procedures). We declare that to the best of our knowledge there is no conflict of interest (paragraph 1.1 of the Conflict of Interest Professional Statement of January 2018), Other than, if necessary, where stated in the report circumstances which fall under Informed Consent (as per the Conflict of Interest Professional Statement).
2.3 We confirm that our fee basis for undertaking this viability assessment is neither performance related nor involves contingent fees.
2.4 We confirm that this viability assessment has been prepared in the full knowledge that it may be made publicly at some point in the future. Where we believe there to be information, which is commercially sensitive, that we have relied upon in arriving at our opinion we have stated so in our report. We request that permission is sort by the instructing/applicant prior to being made public to ensure commercially sensitive or personal information does not infringe other statutory regulatory requirements.
2.5 We confirm that we have not undertaken an area-wide viability assessment concerning existing and future policies against which the scheme will in due course be considered. We have confirmed with the instructing party that no conflict exists in undertaking the viability assessment. Should this position change we will immediately notify the parties involved. We understand that if any of the parties identified in this report consider there to be a conflict that we would immediately stand down from the instruction.
2.6 In this viability assessment we have set out a full justification of the evidence and have also supported our opinions where they differ from the applicant’s advisor with a reasoned justification. We note in due course the emphasis within the RICS Professional Statement on conduct and reporting in Financial Viability in Planning the need to see to resolve differences of opinion wherever possible.
2.7 In determining Benchmark Land Value (if required) we have followed NPG (Viability) (2019) setting out this in detail within the Benchmark Land Value section.
2.8 We make a clear distinction in our report between preparation/review of a viability assessment and subsequent negotiations. Such negotiations may be identified as part of an addendum documents and may relate to S106 agreements.
2.9 Sensitivity analysis and accompanying explanation and interpretation of the results is undertaken for the purposes of a viability assessment. This enables the reader to consider the impact on the result of changes to key variables in the appraisal having regard to the risk and return of the proposed scheme. For the purposes of this report, and application of the Formula 1b within the Mayor’s Viability SPG (2017),
2.10 We confirm we have advocated transparent and appropriate engagement between the Applicant and decision makers in regards to viability.
2.11 This report includes a non-technical summary at the commencement of the report which includes all key figures and issues relating to the assessment.
2.12 We confirm this report has been formally reviewed and signed off by the individuals who have carried out the assessment and confirm that this FVA [as above*] has been prepared in accordance with the need for objectivity, impartiality and without interference. Subject to the completion of any discussion and resolution or note of differences, we will be retained to then subsequently advise upon and negotiate the Section 106 Agreement.
2.13 All contributors to this report have been considered competent and are aware of the RICS requirements and as such understand they must comply with the mandatory requirements.
2.14 We were provided an adequate time to produce this report, proportionate to the scale of the project and degree of complexity of the project.
Producer: Reviewer
Sarah Bolitho BSc MRICS James Brierley BA MSc MRICS
Date: 25/01/21 Date: 25/01/21
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NOTE: This report has been produced in accordance with National Planning Policy Framework (2019) and Planning Policy Guidance (as amended). Gerald Eve LLP can confirm that the report has been produced by qualified Practitioners of the Royal Institution of the Chartered Surveyors (RICS) and that the report has been produced in accordance with RICS Practitioner guidance on viability in planning matters.
The contents of this report are specific to the circumstance of the Proposed Scheme and date of publication; and it together with any further information supplied shall not be copied, reproduced or distributed to any third parties for any purpose other than determining the application for which it is intended. Furthermore, the information is being supplied to Westminster City Council on the express understanding that it shall be used only to assist in the financial assessment in relation to the Application. The information contained within this report is believed to be correct as at the date of publication, but Gerald Eve LLP give notice that:
I. all statements contained within this report are made without acceptance of any liability in negligence or otherwise by Gerald Eve LLP. The information contained in this report has not been independently verified by Gerald Eve LLP; II. none of the statements contained within this report are to be relied upon as statements or representations of fact or warranty whatsoever without referring to Gerald Eve LLP in the first instance and taking appropriate legal advice; III. references to national and local government legislation and regulations should be verified with Gerald Eve LLP and legal opinion sought as appropriate; IV. Gerald Eve LLP do not accept any liability, nor should any of the statements or representations be relied upon, in respect of intending lenders or otherwise providing or raising finance to which this report as a whole or in part may be referred to; V. Any estimates of values or similar, other than specifically referred to otherwise, are subject to and for the purposes of discussion and are therefore only draft and excluded from the provisions of the RICS Valuation – Professional Standards 2014; and VI. Information in this report should not be relied upon or used as evidence in relation to other viability assessments without the agreement of Gerald Eve LLP.
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EXECUTIVE SUMMARY (NON-TECHNICAL)
1. Gerald Eve LLP (GE) is instructed by Westminster City Council’s regeneration team (‘the Applicant’) to provide a Financial Viability Assessment (‘FVA’), in relation to planning application proposals to regenerate the Ebury Bridge Estate (the ‘Site’). The Application relates to the comprehensive renewal of the Site including demolition of all existing buildings on-site to be replaced with 781 homes of mixed tenure (the ‘Scheme’).
2. This FVA has had regard to the initial discussions regarding viability matters relating to an initial scheme had with GLA and WCC, through their advisor Carter Jonas.
3. The aim of the application is to deliver comprehensive regeneration and replacement of a substandard estate, creating a balanced mixed community, whilst providing the maximum reasonable amount of affordable housing in accordance with policy and associated guidance. The application also aims to replace all existing affordable units and rehouse the current residents.
4. As at the date of this report, due to the material valuation uncertainty of Novel Coronavirus (COVID-19) and the associated economic climate, we consider that we can attach less weight to previous market evidence for comparison purposes to inform opinions of value and viability. Our financial viability assessment, whilst reported in accordance with the RICS Professional Statement on “Financial Viability in Planning: report and conduct” is therefore provided based on material uncertainty. Given the unknown future impact that COVID-19 might have on the real estate market, it would be prudent to consider any significant changes which may affect viability.
5. The Hybrid Outline planning application for the Scheme is for the phased demolition of 13 existing residential buildings comprising 336 residential units. The detailed application (Phase 1) is for Blocks 7 and 8, proposing 226 residential units. The outline application (Phases 2 and 3) proposes a residential unit quantum comprising up to 36,610 sq m of floorspace, or an illustrative 555 residential units and up to 3,018 sq m of non-residential floor space.
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6. The proposed development is considered by the Applicant to provide Westminster City Council (“WCC”) policy compliant level of affordable housing in replacing the existing 198 affordable residential units. In addition to the replacement units, the Scheme provides an uplift of 166 affordable units, which equates to 589 affordable habitable rooms. With a total new residential uplift of 1,180 habitable rooms proposed, this net uplift of 589 affordable habitable rooms equates to 50% of the total uplift. Sitewide and notwithstanding replacement units, a total of 1,137 habitable rooms are proposed to be affordable of a total site-wide provision of 2,139 habitable rooms. This equates to a sitewide split of 53% affordable habitable rooms. It also meets the draft London Plan Policy H8 requirements for viability testing of estate regeneration projects. The FVA has been undertaken in accordance with National Planning Policy Framework (2019) and National Planning Guidance (“NPG”).
7. GE has had regard to planning documents and cost reports provided by the Applicant in undertaking this assessment. Should there be any changes in this documentation this may affect our conclusions.
8. The purpose of this FVA is to demonstrate the viability of the Scheme including proposed level of affordable housing on-site; considering specific site and the statutory obligations of the Applicant.
9. Based upon applied assumptions, GE estimate that the proposed Scheme, on a current day basis would require additional funding. The delivery of Ebury Bridge has full Council commitment in the knowledge that this will require significant contribution of Council resources in order to finance and make the Scheme viable. The Scheme has therefore been tested in respect of delivery on the basis of two scenarios: self- funding; and a joint venture (“JV”) funding route. The difference between the two being the inclusion of profit and financing requirements in respect of the JV route.
10. Sensitivity testing was undertaken on each scenario, which indicated that a self- delivery model is potentially viable with small market movements over the lifetime of the development, whilst the JV approach would require substantial movements or additional funding.
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11. GE has robustly tested the proposed Scheme and concludes that the level of proposed on-site affordable housing represents the maximum reasonable amount that can be provided on site whilst meeting the requirements of policy associated with regeneration of housing estates in London.
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Summary of Appraisal Inputs
Element The Proposed Scheme Source
NIA (sqm) NIA (sq ft) Private Residential 25,453 273,976 astudio Affordable Housing 27,981 301,189 astudio Residential Total 53,434 575,1651 Commercial 2,848 30,656 astudio Revenue
Private residential sales values £402m (off plan 35%) SAY
Affordable Housing £67.9m Gerald Eve
WCC Regeneration Funding Total Grant: £90m Applicant
Commercial £13.2m Avison Young Cost Construction Cost £316m Gardiner & Theobald Professional/ Design fees 10% Gerald Eve Contingency 5% Gerald Eve
Phase 1 – Mid 2021 – Mid 2023 Programme Phase 2 – Mid 2022 - 2025 Gardiner & Theobald Phase 3 – Late 2023 – 2027
CIL allowance (Mayoral/Borough) £16.2m Arup
Estimated S106 £1.0m Arup
Marketing 1.5% of private residential and non-residential uses Gerald Eve Letting agents (commercial and 10% Gerald Eve community) Private sales legal 5% Gerald Eve
Sales agents 1.0% of private residential Gerald Eve
Sales legal 0.5% of total residential Gerald Eve
Vacant Possession Cost2 £108.1m Applicant Self-delivery – 4.2% Finance Gerald Eve Self-delivery and joint venture – 6.5% Benchmark Land Value £1 (to reflect regeneration) Gerald Eve
Return Self-delivery – 6% on GDV IRR – 7% - 10%
Target Return (blended) Self-delivery and joint venture – 14.9% (17% private, Gerald Eve 10% market replacement units 6% Affordable, 12% commercial/community) on GDV IRR – 16% - 18%
1 Areas within the appraisal vary slightly to architectural drawings resultant of rounding through exchange of sq m to sq ft (less than 1% variance).
2 WCC to provide further evidence on the VP costs.
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Contents Page
1 Introduction 11 2 Requirement for the FVA 17 3 Background 18 4 Viability Guidance, Planning Policy and Regeneration Summary 20 5 Carter Jonas and GLA Comments on Initial Discussions 22 6 Proposed Scheme 23 7 Gross Development Value 27 8 Build Costs and programme 35 9 Planning Obligations 42 10 Benchmark Land Value (BLV) 46 11 Return to the Developer 50 12 Financial Appraisal Review 53 13 Sensitivity & Scenario Analysis 55 14 Concluding Financial Justification Statement 58
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Appendices
Appendix 1: GE Reporting signoff
Appendix 2: Summary of GLA and Carter Jonas Discussions
Appendix 3: Planning policy summary
Appendix 4: Viability guidance
Appendix 5: GE Estate Regeneration guidance Summary
Appendix 6: DCLG Estate Regeneration guidance Summary
Appendix 7: Estate Regeneration National Strategy – Good Practice Guidance 2016
Appendix 8: Commentary on Mayoral Funding
Appendix 9: Accommodation Schedule
Appendix 10: Residential Market Report and Pricing
Appendix 11: Affordable Housing Valuation
Appendix 12: Deliverability Commentary
Appendix 13: Commercial Market Report
Appendix 14: Construction Cost Plan
Appendix 15: Finance Summary
Appendix 16: Development Programme
Appendix 17: Planning Obligations Summary
Appendix 18: Financial Appraisal – Self-delivery
Appendix 19 – Financial Appraisal – Joint Venture
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1 Introduction
In this section we outline the requirement and structure of the report.
1.1 Gerald Eve LLP (‘GE’) has been instructed by Westminster City Council’s regeneration team (‘the Applicant’) to provide a Financial Viability Assessment (‘FVA’) with associated information in connection with the discussions for a planning application for the proposed estate regeneration comprising of the demolition of all existing buildings on-site to be replaced with an indicative provision of 781 homes of mixed tenure (‘the Scheme’) at the Ebury Estate (‘the Site’).
1.2 The Hybrid Outline Planning Application for the Ebury Bridge Estate, Ebury Bridge Road, SW1W 8PX (LPA Ref: 20/04366/COOUT) was submitted to Westminster City Council’s Planning Department (‘WCC LPA’) and validated as received on 10th July 2020. As part of ongoing reviews of the Scheme with regards to local housing requirements and viability, minor adjustments are now required with regards to dwelling mix and affordable provision. This has therefore resulted in the need for an updated FVA.
1.3 The local housing requirements have changed due to the following:
• A decrease in social rent Right to Return households committing to returning and therefore reduction in the need for replacement social rent units in Phase 1; • Identification by WCC of a significant affordability gap between upper quartile Intermediate Rent homes and market homes resulting in a number of market homes being converted to Discounted Market Rent units; • Due to the above there has also been a net reduction in 3-bed units as these have been found to be undesirable for market homes in this location.
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1.4 In terms of viability, WCC has been reviewing their financial commitments across multiple programmes and the funding that was available when the application was submitted has since reduced due to financial pressures elsewhere in the Council and the requirement to deliver affordable housing across the borough, in addition to Ebury.
1.5 This FVA has had regard to the initial discussions regarding viability matters had with GLA and WCC, through their advisor Carter Jonas, including detailed analysis of an initial viability appraisal relating to initial scheme proposals. A summary of these discussions and comments received on the appraisal inputs is attached at Appendix 2.
1.6 This FVA is submitted and produced on behalf of the Applicant as a viability assessment of the Scheme to determine that their affordable housing offer is the maximum reasonable that can be reasonably and justifiably accepted by the Council when granting planning consent.
1.7 The Hybrid Outline planning application for the Scheme is for the phased demolition of 13 existing residential buildings comprising 336 residential units. The outline application (which comprises Phases 2 and 3) proposes a residential unit quantum of up to 36,610 sq m floorspace, or an illustrative 555 residential units and up to 3,018 sq m of non-residential floor space. The detailed application (Phase 1) is for Blocks 7 and 8, proposing 226 residential units.
1.8 We understand that Phase 1 of the Scheme is to be delivered by the Applicant, however the delivery route for Phases 2 and 3 is still to be decided, this being self- delivered by the Applicant or bringing in a joint venture partner. Therefore, we have assessed Phases 2 and 3 considering both delivery routes.
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Confirmation of Terms of Engagement
1.9 Our instruction is to undertake an objective, impartial review of the affordable housing contribution offered as part of the Scheme and whether it is viably feasible for the Scheme to provide.
1.10 This review has been prepared having regard to the NPPF (2019); National Planning Guidance (“NPG”); the Mayor’s Affordable Housing and Viability SPG (August 2017); WCC’s current and emerging City Plans; the London Plan (March 2016); the Draft New London Plan (December 2019); the RICS Guidance Note: Financial Viability in Planning 2012 (“the RICS GN”) and conduct and reporting Practice Statement 2019 (“the RICS PS”); and generally accepted principles of undertaking (site specific) FVAs.
1.11 We declare that to the best of our knowledge there is no conflict of interest (paragraph 1.1 of the Conflict of Interest Professional Statement of January 2018); and that our fee basis for undertaking this viability assessment is neither performance related nor involves contingent fees.
1.12 GE has had enough time to complete this instruction and where necessary, has exchanged with the Applicant’s advisors in the process of reaching our conclusions.
Supporting Information
1.13 The Applicant has instructed the following consultants/sources to support the assessment of the FVA:
• astudio (design consultant/ architect); • Gardiner & Theobald (cost consultant); • Arup (planning consultant); • SAY (private residential agents); • Avison Young (commercial agents); and • The Applicant.
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1.14 We have not undertaken a measurement of the Applicant’s planning application drawings and have relied on the information provided in the associated planning documentation.
1.15 Whilst we have relied on the information provided, we have also had regard to our own market knowledge, research and experience.
1.16 As part of pre-application discussions, several meetings were undertaken with the GLA to ensure, where possible an acceptable approach to viability and inputs were applied. Subsequently, detailed discussions were had with the GLA and Carter Jonas, on behalf of the LPA, relating to proposed assumptions applied within an initial financial appraisal. Whilst this FVA reflects updates to the initially discussed scheme, assumptions and evidence discussed have been maintained or adjusted accordingly.
1.17 Our report is accompanied by appendices which are introduced in the text.
1.18 We have included in Appendix 3 an overview of key relevant planning policies associated at national, regional and local level. In Appendix 4 we have included an explanation of the applied methodology and approach in assessing viability having regard to viability guidance for planning purposes.
1.19 As outlined in the RICS GN, in undertaking this exercise, GE is formulating an appropriate judgement based upon information provided by the Applicant as to the viability of the Scheme and the maximum reasonable level of affordable housing the Scheme can afford in terms of planning obligations.
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1.20 A financial appraisal has been compiled using an industry standard licensed Argus development appraisal in order to assess the viability of the Scheme. Whilst this report does have regard to current day costs and values, sensitivities have been made for purposes of the financial modelling and resultant conclusions. These are explained further within the report and results are provided via a present-day appraisal.
1.21 The appraisal generates residual land value, based upon applied assumptions of GDV, Cost and Profit Return. The comparison of this outturn to a reasonable Benchmark Land Value has then been relied upon to establish the appropriate viable level of planning obligations for the Scheme which can be secured by way of a Unilateral Undertaking; which includes affordable housing and Community Infrastructure Levy. It therefore follows that the level of planning obligations has been determined by reference to the viability of the Scheme in accordance with PPG (2016) ‘Planning Obligations’.
1.22 In line with the NPG, measurement of a reasonable developer return has been assessed by reference to profit on gross development value (‘GDV’) on a present- day basis.
1.23 The return level accounts for the delivery method being assessed, being self- delivery by WCC or including a joint venture partner.
1.24 A risk analysis has been provided in order to test the sensitivity and robustness of the residual land value having regard to changes in the inputs. This is in accordance with RICS Guidance Viability in Planning (2012) and normal practice when undertaking financial viability assessments in respect of schemes of this nature regarding scale and programme.
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1.25 This report has been prepared as at January 2021, however, in the context of the prevailing economic climate and COVID-19 we have relied upon the best available evidence at the time. Should circumstances change it may be necessary to revise and update the inputs to the financial appraisal, and therefore resulting outturns. Furthermore assumptions have been applied based upon an evidence base discussed with CJ and the GLA.
Material valuation uncertainty due to Novel Coronavirus (COVID – 19)
1.26 The outbreak of the Novel Coronavirus (COVID-19), declared by the World Health Organisation as a “Global Pandemic” on the 11th March 2020, has impacted global financial markets. Travel restrictions have been implemented by many countries. In the UK, market activity is being impacted in all sectors. Indeed, the current response to COVID-19 means that we are faced with an unprecedented set of circumstances on which to base a viability judgement.
1.27 Our financial viability assessment, whilst reported in accordance with the RICS Professional Statement on “Financial Viability in Planning: report and conduct” is provided on the basis of material uncertainty. Consequently, less certainty – and a higher degree of caution – should be attached to our financial viability assessment than would normally be the case.
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2 Requirement for the FVA
In accordance with NPPF, this section provides the reasons for the FVA requirement.
Reasons for the FVA Requirement
2.1 We recognise that this application does not deviate from the NPPF or WCC policy and therefore does not trigger the need for an FVA. Whilst the ‘Intend to Publish’ Draft London Plan 2019 has at the time of writing, yet to be progressed to adoption; it is given material weight by the GLA and sets out requirements for estate redevelopment to follow the Viability Tested Route to demonstrate that the uplift of delivery of any affordable housing above the existing re-provision has been maximised. Therefore, this FVA sets out the evidence that the uplift in affordable housing has been maximised.
2.2 We also recognise that in estate regeneration schemes, it is expected in draft London Plan Policy H8 that 100% of housing lost should be replaced and that loss of affordable housing is replaced by an equivalent amount of floorspace and tenure and therefore this FVA also sets out compliance with this policy.
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3 Background
This section provides the context for the Scheme focussing on the surrounding area, accessibility, the Site’s characteristics and the existing use.
Location Overview
3.1 The Site is located in the administrative borough of Westminster City Council (WCC) with land bounded by Ebury Bridge to the north; Ebury Bridge Road to the west; railway lines to the east. The site adjoins the residential development site Grosvenor Waterside to the south.
3.2 The Site is located opposite the Chelsea Barracks development, which comprises the redevelopment of a 12.8 acre site being brought forward in six phases by Qatari Diar.
3.3 The location of the Site is set out for identification purposes in Figure 1 below.
Figure 1: Site Location Plan
Source: WCC
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3.4 The Site is located in one of London’s prime residential locations in central London, located adjacent to Belgravia and within the vicinity of Chelsea.
3.5 The Site has a PTAL rating of 6b and is in close proximity to Victoria mainline and underground station (0.3 miles) and Sloane Square station (0.4 miles).
Site Description
3.6 The Site covers an area of 4.6 acres (1.86 ha) in total. The site area subject to the detailed application is 1.19 acres (0.45 ha) and the site area subject to the outline application is 3.41 acres (1.41 ha). The proposed site layout is set out for identification purposes in Figure 2 below.
Figure 2: Site Location Plan (detailed application buildings 7 and 8 highlighted)
Source: astudio
3.7 Prior to the recent demolition of Edgson House which comprised 55 units, the existing site comprised a total of 336 residential units arranged over 13 blocks. There are 14 existing retail units within two blocks (Rye House and Bucknill House) totalling 9,106 sq ft (846 sq m) and an existing community gardening building of 248 sq ft (23 sq m). Prior to its demolition, Edgson House also provided 1,658 sq ft (154 sq m) of community space – which has since been replaced in the interim by a temporary community hall of 850 sq ft (79 sq m), as part of a meanwhile project on the Edgson site.
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4 Viability Guidance, Planning Policy and Regeneration Summary
This section briefly identifies those national, regional and local policies that are considered relevant to this planning application. It also highlights the approach to the viability methodology undertaken for this application.
Viability Guidance
4.1 Viability in planning has its locus in the National Planning Policy Framework (NPPF) originally published in March 2012 and revised in 2019 which sets out the Government’s planning policies for England and how these are expected to be applied. The NPPF recognises the place of viability testing, in both plan-making and decision- making.
4.2 Further guidance relating to interpreting the NPPF is set out in National Planning Guidance (NPG) which refers to viability both in terms of planning obligations (PPG 2016) and viability (NPG 2019 as amended) and indicates that planning viability assessments are recommended to reflect NPG, in determining appropriate planning obligations.
4.3 The NPG indicates that viability assessments are to be undertaken by suitably qualified practioners. The Royal Institute of Chartered Surveyors (RICS) has published practitioner guidance in 2012 and 2019 regarding viability assessments in planning. The RICS also produced a Professional Statement (Sept 2019) which indicates mandatory guidance for qualified practitioners for when undertaking viability in planning. For further details see Appendix 4.
Planning Policy and related matters
4.4 The Site is situated within WCC and therefore assessment of planning obligations must have regard to the current and emerging WCC City Plans and also the London Plan (2019); and the Mayor of London Development Viability Supplementary Planning Document (adopted 2nd October 2017). For further relevant details please see Appendix 3.
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Site Specific Planning
4.5 The Site is allocated in the adopted WCC City Plan as Proposal Site F2 and in the emerging Draft City Plan as a Key Development Site and a Housing Renewal Area. The proposals for the renewal of the estate are in alignment with these policy allocations and have been subject to extensive consultation with Ebury Bridge residents to define the preferred approach.
Regeneration
4.6 This application has been considered against the Estate Regeneration National Strategy (2016) and the Estate Regeneration National Strategy Good Practice Guidance (2016). For further relevant details please see Appendix 5 and 6 and application of this guidance is summarised in Appendix 7.
4.7 Estate Regeneration National Strategy (2016) acknowledges that the financing and delivery of any regeneration project is one of the greatest challenges faced by a landowner. Historically, estate regeneration schemes have generally relied upon some government investment in the form of grant. However, a key objective of the government is to limit that, but they recognise the need to provide mixed and balanced tenures.
4.8 In this instance, whilst WCC do intend to ensure the deliverability of the Scheme through investment, the Scheme is not reliant upon Mayoral funding. For more information see Appendix 8.
Summary
4.9 The NPPF has a clear presumption in favour of sustainable development and local planning authorities should take account of this when determining planning applications.
4.10 It is important that the approach taken to affordable housing and scheme viability does not compromise the ability to deliver the development on the Site.
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5 Carter Jonas and GLA Comments on Initial Discussions
This section summarises the comments made by both Carter Jonas, on behalf of the LPA, and the GLA on the initial viability appraisal which have been addressed in this FVA.
5.1 Initial discussions were had in relation to a viability appraisal. These are discussed further in Appendix 2.
GLA Comments
5.2 The GLA Viability Team (“GLAVT”) raised the following points to enable them to confirm that the affordable housing offer represents the maximum reasonable amount:
• An independent viability review should be carried out on behalf of the Local Planning Authority. At the very least, an independent Cost Consultant should be appointed. • Queries relating to the sales values adopted. • Queries relating to the use of intermediate ownership units as an affordable product. • Information on the yield applied in the sensitivity testing assuming the inclusion of ground rents. • Queries relating to the finance rate adopted in the Joint Venture appraisal. • Evidence relating to the vacant possession costs allowed.
Carter Jonas Comments
5.3 Carter Jonas have reviewed the initial financial viability appraisal and supporting evidence relating to the applied assumptions in September 2020. A number of points were raised which are as follows:
• Further detail to be provided on the vacant possession costs; • Difference in affordable housing values in relation to rents for the new social units and also clarifications on annual rental period and service charges; • Commercial rent applied to the D2 health and fitness unit; • Difference in construction cost and further justification on ‘spot figures’ applied to items within the cost plan; • Confirmation of S106 and CIL costs.
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6 Proposed Scheme
This section sets out the details of the Scheme and its density, scale and massing assumptions used in the financial appraisal. Further details can be found in the design and access statement which forms part of the planning application.
6.1 The planning application for the Proposed Scheme is for the demolition of the existing blocks on the Site to provide new residential accommodation and commercial floor space.
6.2 Hybrid Outline planning permission is sought for:
i) ‘A mixed used development in outline for residential floorspace and ancillary residential facilities (Class C3) non-residential floorspace comprising flexible retail (Classes A1 – A4), community (Class D1), leisure (Class D2) and workspace (Class B1) floorspace; provision of basement; new pedestrian and vehicular access; and associated amenity space, open space, plant, landscaping, car and cycle parking, refuse storage, servicing area, and other associated infrastructure works; and
ii) Detailed planning consent for Blocks 7 and 8 comprising residential floorspace and ancillary residential facilities (Class C3); provision of a basement; new pedestrian and vehicular access; and associated amenity space landscaping, car and cycle parking, refuse storage, servicing area, and other associated infrastructure works.
6.3 The proposed unit breakdown of the development is summarised in the table below, albeit the outline element of the Scheme is still illustrative. For the full accommodation schedule and associated areas see Appendix 9.
Table 1: Proposed overall residential unit mix (inc. illustrative outline Scheme element)
Tenure 1-Bed 2-Bed 3-Bed 4-beds 5-beds TOTAL Social (replacement) 51 85 54 8 - 198 Social (new) 6 24 7 4 41 Intermediate 35 51 - - - 86 Affordable Rent Intermediate 5 12 4 - - 21 Ownership Private (new) 208 127 36 - - 371 Private 22 24 - - - 46 (replacement) Discounted Market - 6 12 - - 18 Rent TOTAL 321 311 130 15 4 781 Source: astudio
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6.4 The affordable housing breakdown is estimated as follows:
Table 2: Proposed overall residential by percentage
Tenure Percentage of Units Percentage by Hab Room Social (replacement) 25% 29% Social (new) 5% 8% Intermediate Affordable Rent 11% 10% Intermediate Ownership 3% 3% Private (new) 48% 47% Private (Replacement) 6% DMR 2% 3% Total 100% 100%
Source: astudio
6.5 The Applicant considers that the intermediate ownership units reflect an affordable product for the following reasons:
• The Equity Loan will account for in excess of 20% of the property value; • The homeowner will earn less than the £90k per annum, which is the affordable housing intermediate ownership threshold; • The units will be the homeowners only home; • The units will not be a product that is currently being offered in the market. 6.6 See below table for the unit and area breakdown by block of the residential areas.
Table 3: Proposed residential unit areas3 Block Total no. Units Area m² Sq Ft Block 01 40 3,009 32,389 Block 02 43 3,388 36,468 Block 03 43 3,329 35,833 Block 04 40 3,067 33,013 Block 05 103 6,285 67,652 Block 06 108 8,149 87,716 Block 07 112 8,244 88,738 Block 08 114 8,577 92,323 Block 09/10 178 9,384 101,009 Total 781 53,432 575,141
3 Areas within the appraisal vary slightly to architectural drawings resultant of rounding through exchange of sq m to sq ft (less than 1% variance).
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Source: astudio 6.7 The proposed Scheme also includes commercial floorspace within the outline area of the Site within three areas being a new retail parade, the Northern Gateway and the Southern Gateway. While the sub-division of the spaces is not currently defined, Table 5 below shows an illustrative mix for the purposes of this FVA. We note that Avison Young identify that the units could have multiple potential occupiers and therefore we have made an assumption as to the most suitable potential use class.
Table 4: Proposed commercial floorspace – retail parade Commercial Floorspace GIA Unit Number Phase Ground Basement sq Potential Use Potential Occupier Floor sq m m Class R1 2 216 - A1 Convenience R2 2 76 - A1 Pharmacy Barber R3 3 76 45.5 A1 Hairdresser R4 3 54 35 A1/A3 Newsagent Café R5 3 201 134 A4 Wine bar R6 3 201 134 A3 Restaurant R7 3 54 35 A1 Dry cleaning Hardware R8 3 76 45.5 A1/D1 Party shop Dentist R9 3 76 - A1/A2 Estate agent Physio/beauty R10 3 137 - A1/A3 Café Interiors Bridal shop Total 1,167 429
Source : Avison Young 6.8 The following commercial accommodation is proposed at the Northern and Southern
Gateway sites:
Table 5: Proposed commercial floorspace – Northern and Southern Gateways
Potential Use Potential Use Sqm Class Northern Gateway B1 Office 343 Southern Gateway A1 Retail 128 Southern Gateway D2 Gym 331 Southern Gateway D1 Nursery 450 Total 1,252
Source: Avison Young
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6.9 We are aware that there is a meanwhile use being delivered on the site of Edgson House, which will be removed as Phase 3 is implemented. This meanwhile use is referred to as the Ebury Edge Project and will offer retail, workspace and community
floorspace for local people and small businesses.
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7 Gross Development Value
This section of the report sets out the anticipated development value assumptions applied to the FVA and details GE’s justification for the maintained and varied assumptions for this Financial Viability Assessment.
7.1 The Scheme proposes the following land uses: • Residential (Private and Affordable); and • Commercial.
Residential Market Value
7.2 SAY Property Consulting LLP provided supporting evidence during discussions with GLA/ Carter Jonas.
7.3 The report provided by SAY included analysis of the local development pipeline, demographics and comparable developments to arrive at an opinion of appropriate sales values for the initial residential units discussed with GLA/ Carter Jonas (Appendix 10).
7.4 SAY priced the units on a unit by unit basis assuming all units are private. Carter Jonas considered the private sales values discussed appeared reasonable. SAY’s analysis has been applied to the proposed Scheme, based upon an average value for each unit size, as follows4:
Table 6: Average value of private units
Unit Type Average Value (Per Unit) 1 bed £754,729 2 bed £1,155,475 3 bed £1,491,368
Source: SAY Property Consulting LLP
4 Further detail can be provided on request.
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7.5 We have also concluded that 35% of sales can be achieved off plan and this has been adopted for the modelling.
7.6 The Applicant considers it is important to include private sale units in the development for the reasons stated above relating to creating mixed and sustainable communities.
7.7 Therefore, keeping in line with the assumptions set out above GE calculate that the Market Value of the private units consist of c.£402m million.
Ground Rents
7.8 We note that The Minister for Housing, Communities and Local Government provided the following statement on 21st December 2017:
“The Government will introduce legislation so that, in the future, ground rents on newly established leases of houses and flats are set at a peppercorn (zero financial value)”.
7.9 Furthermore, the leasehold reforms announced by the Housing Secretary on 7th Jan 21 which allows leaseholders to extend their leases for a term of 990 years and no longer pay any ground rent to the freeholder.
7.10 Given the Government’s position on amending ground rent legislation on leasehold property so that rents may be set at a nominal level in the future, we consider that it is reasonable to assume no ground rent sales within our appraisal analysis.
7.11 However, following our discussions with the GLA, we understand that it is their preference that this income is included within our assessment. Whilst we wholly disagree with the inclusion of capitalised ground rents in the GDV on the basis of government announcements and market practice, we have sought advice from SAY on appropriate assumptions, if they were for testing purposes only, to be included. These are shown in Table 8 below and assessed within the Sensitivity Analysis in Section 12.
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Table 7 Summary of estimated ground rent values included in sensitivity analysis Unit Type Rent (£ / pa) 1 beds £400 2 beds £650 3 beds £850
Source: SAY Property Consulting LLP
7.12 The yield applied to the estimated ground rent values included in the sensitivity analysis is 4.5%. Furthermore, we can confirm that the sensitivity analysis assumes that ground rent is charged on all of 417 market units.
Affordable Housing Value
7.13 The affordable units will be delivered within the following tenures:
• Intermediate Affordable Rent; • Shared Equity; • Social Rent (replacement units); • Social Rent (New units); and • DMR.
7.14 The GE affordable housing team previously calculated the affordable housing values during the initial discussions with the GLA and Carter Jonas. These rates (on a per unit basis) have been adopted within this update, with the exception of the social rent (new) units. DMR units have also been introduced to the Scheme since our discussions and we have been provided with values for these units from the Applicant.
7.15 In respect of the social rent (new) units, WCC’s Affordable Housing Team have reviewed the rents previously provided to GE’s affordable housing team and have been updated as follows:
Table 8: Updated Social Rents (New Units)
Unit FVA Social Rents (New Updated Social Rents Units) (New Units) 1-bed £116.97 £145.96 2-bed £132.76 £154.53 3-bed £144.54 £163.12 4-bed £163.04 £171.69 5-bed £163.04 £180.28
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Source: WCC Affordable Housing Team
7.16 The summary of the method used to determine the value of these units is attached at Appendix 11.
7.17 We have been provided with the following rents for the DMR units:
Table 9: DMR Unit Rents
Discount Market Rent Unit Size % of Market Rent (Weekly) 2 bed £462 65% 3 bed £484 56%
Source: WCC Affordable Housing Team
7.18 We understand that these rents are within the WCC affordable definition of affordable rent, being a £90k cap, and thus providing more affordable homes to Westminster residents. To allow the 2-bed units affordable to a household on £90,000 (WCC policy), 65% of market rent would need to be charged. For a 3-bed unit this is 56% of market rent.
7.19 The Market Value of the affordable units, calculated by GE is shown in Table 10 below:
Table 10: Summary of affordable values
Tenure No. Units GDV Value (£ unit) Intermediate Affordable Rent 86 £22.9m £266k Intermediate Ownership 21 £5.8m £277k Intermediate Total 107 £28.7 - Social Rent (replacement) 198 £23.4m £118k Social Rent (new) 41 £6.0m £146k Social Total 239 £29.4 - Discounted Market Rent 18 £9.8m - Total 364 £67.9m -
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Source: GE
Westminster City Council (“WCC”) Regeneration Funding
7.20 In terms of viability, WCC have been reviewing their financial commitments across multiple programmes and the funding that was available when the application was submitted has since reduced due to financial pressures elsewhere in the Council and the requirement to deliver affordable housing across the borough, in addition to Ebury.
7.21 We understand that this is a strategically important regeneration scheme for the Council; and WCC currently anticipate provision of circa. £90m to support the regeneration of the estate, subject to scrutiny that the Scheme maximises value for money by optimising design, construction and outturn revenue.
7.22 This assessment looks to support defining the required funding to viably deliver the proposed Scheme. The Council shall periodically review the revenue and cost assumptions contained within the financial viability assessment as future phases of the scheme are brought forward, particularly given the current uncertainty within the market. For further information on the process that WCC have gone through to allocate funding to the Scheme, see Appendix 12.
Commercial – Retail Value
7.23 There is to be a total of 2,848 sqm (30,656 sq ft) of commercial floor space proposed within blocks 1 – 5 and 9. We understand that these comprise a range of commercial uses including retail, café/bar, D2 health and fitness, D1 nursery, workspace and basement space. The Scheme will also include community space which is not valued.
7.24 We have been provided with estimated rental values for the commercial space, as follows:
Table 11: Summary of commercial values Use Rent (£ psf) Zone A retail £45 - £50 Retail basements £5 A3/A4 ground floor £30 A3/A4 basements (aligned £15 to the back of house) D1 nursery £22.50 D2 health & fitness £22.50 A3 cafe £25 Workspace £35
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Source : Avison Young
7.25 We have applied these rents to the proposed commercial uses within the Scheme. AY have advised that units R2, R3, R8 and R9 should be subject to a 10% reduction in rent for shape, which is summarised in Table 12 below for the retail parade:
Table 12: Summary of commercial values – retail parade
Commercial Floorspace GIA Unit Phase Ground Ground Potential Rent (£ Rent (per Number Floor sq m Floor sq ft Use Class psf) unit) R1 2 216 2,325 A1 £45.00 £104k R2 2 76 818 A1 £40.50 £33k R3 3 76 818 A1 £40.50 £33k R4 3 54 581 A1/A3 £30.00 £17k R5 3 201 2,164 A4 £30.00 £65k R6 3 201 2,164 A3 £30.00 £65k R7 3 54 581 A1 £45.00 £26k R8 3 76 818 A1 £40.50 £33k R9 3 76 818 A1 £40.50 £33k R10 3 137 1,475 A1/A3 £30.00 £44k Total 1,167 12,562 £453k
7.26 As advised by Avison Young, we have applied a reduced rent to the basement accommodation of £5.00 for retail basement and £15.00 for basement retail. The total rent for the basement accommodation totals circa. £49k.
7.27 The retail values for the Northern and Southern Gateway units are summarised below:
Table 13: Summary of commercial values – Northern and Southern Gateways
Commercial Floorspace GIA Unit Phase Ground Ground Potential Rent (£ Rent (per Number Floor sq m Floor sq ft Use Class psf) unit) Northern 2 343 3,692 B1 £35.00 £129k Gateway Southern 3 128 1,378 A1 £45.00 £62k Gateway Southern 3 331 3,563 D2 £22.50 £80k Gateway Southern 3 450 4,844 D1 £22.50 £109k Gateway Total 1,252 13,477 £380k
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7.28 In terms of yields, Avison Young have provided a recommendation based on the investment potential of the development as a whole and likely mix of “commercial” uses. The majority of future tenants are likely to be independent businesses, with potentially better multiple covenants on the gym, nursery and perhaps the restaurant. The location and ‘London effect’ would attract a yield of 6% - 6.5%. Avison Young’s report can be found at Appendix 13.
7.29 In accordance with the assumptions above, the commercial element of the Scheme has an estimated GDV of circa. £13.2m.
Car Park Sales Values
7.30 The Scheme is proposed to deliver 42 car parking spaces, which equates to circa. 5.5% provision for the proposed 758 residential units. We understand that the spaces are not allocated and can be used by any resident of the Site who has a “White Badge”. Therefore, we have not attributed any additional revenue for the car parking spaces.
Meanwhile Uses
7.31 We understand that the meanwhile use being delivered on the site of Edgson House will be let at a peppercorn rent. We have considered the inclusion of the meanwhile use in the sensitivity section of this report.
GDV Summary
7.32 We set out a summary of the total Proposed Scheme GDV below:
Table 14: Summary of Proposed Scheme Total GDV (excluding ground rents)
Type GE Total GDV Private Residential £402m Affordable Residential £67.9m Commercial £13.2m Total £483.1m Ground Rents See Section 12
Source: GE
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7.33 We consider that all inputs into our appraisal have been reasonably justified. We have clearly set out supporting and reasonable justification. However, we do recognise that the current economic impact of COVID-19 may require some of these inputs to be updated to reflect potential future movements in the market.
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8 Build Costs and programme
This section of the report sets out the cost assumptions applied to the FVA and details Gerald Eve’s (GE’s) justification for the maintained and varied assumptions for this Financial Viability Assessment.
8.1 This section considers the costs applied within our appraisal. Costs associated with Site value and development return are addressed in later sections.
Construction Costs
8.2 Paragraph 12 of the NPG states that assessment of costs should be based on evidence which is reflective of local market conditions. Costs should include appropriate data, abnormal costs and site specific infrastructure costs. Gardiner & Theobald (“G&T”) prepared a cost estimate for the initial viability assessment which was discussed with CJ and the GLA, attached at Appendix 14.
8.3 We understand from the Applicant that there would be no significant cost changes from the discussions to the proposed Scheme assessed within this FVA.
8.4 Other cost components identified in the NPG (paragraph 12) include CIL, S106, finance, and sales, legal, marketing and professional fees. These are all described in later sections of this FVA.
8.5 The G&T cost plan provides a separate cost for each block which we have allocated to the appropriate phase that the block in which the block is delivered. The phasing of the delivery of the blocks within the Scheme is as follows:
• Phase 1 – Blocks 7 & 8;
• Phase 2 – Blocks 1, 5 & 6; and
• Phase 3 – Blocks 2, 3, 4 & 9.
8.6 The table below shows a summary of the headline construction costs associated with the Scheme:
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Table 15: Cost Plan Summary
Element Costs £ (million) Phase 1 – Blocks 7 & 8 Build cost (inc. prelims and overhead & profit) £89.6m External works £2.6m Energy centre £5.6m EHV £2.5m TOTAL (Blocks 7 and 8) £100.3m Phase 2 – Blocks 1, 5 & 6 Build cost (inc. prelims and overhead & profit) £94.1m External works £2.5m Energy centre £5.4m TOTAL (Blocks 1, 5 & 6) £102.0m Phase 3 – Blocks 3, 4 & 9 Build cost (inc. prelims and overhead & profit) £109.4m External works £4.0m TOTAL (Blocks 2, 3, 4 & 9) £113.3m TOTAL FOR SCHEME £315.7m
Source: Gardiner & Theobald
8.7 The Applicant has estimated a total cost for the Scheme of c.£316m inclusive of preliminaries and overheads and profit, which we have adopted. We have accounted for contingency separately in line with other FVAs we have conducted in the WCC area and this has also been discussed with the GLA.
Contingency
8.8 In regard to cost contingency, we have had various discussions with the GLA about an appropriate level of contingency associated with the site-specific nature of the Scheme and identified costs within the cost plan. GE considered that other FVAs that they had reviewed of similar development type generally reflected circa. 5%, therefore in this instance, GE considered this to be an appropriate and justified amount to be applied to this Scheme.
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Project/Design Team Fees
8.9 General industry assumptions for professional fees range between 8% and 15% depending upon the specific nature of the scheme. These fees relate to: • Architect • Project Managers • QS / CA • Specialist Services (e.g. BREEAM etc.) • Structural • Approved Inspector • CDM Co-ordinator • Planning & Viability Consultants • Public Consultation
8.10 Based on the size, scale and complexity of the Scheme we have applied professional fees at 10%. This level of allowance has been discussed with the GLA and is deemed as an acceptable allowance.
Marketing Letting and Disposal Fees
8.11 As part of our assumptions it is correct to allow for fees associated with the marketing and sale of the residential and commercial floorspace. A dedicated marketing budget and appointment of a skilled sales agent will be essential to deliver the programme of sales we have modelled.
8.12 As part of the assumptions it is reasonable to allow for fees associated with the sale of the residential units and for the sale of the developed building. We consider the commercial assumptions adopted reasonable and so we have applied these assumptions for sale, letting and legal fees associated with the Scheme. Our assumptions in respect of these fees and budgets are set out below.
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Table 16: Summary of Residential Marketing and Disposal Fees
Disposal Fee Fee
Marketing 1.5% (% Private GDV)
Residential Sales Agent 1.0% (% Private GDV)
Residential Sales Legal 0.5% (% GDV) Letting Agent Fee 10.0% (Commercial) Letting Legal Fee 5.0% (Commercial)
Source: GE
8.13 GE have applied realistic industry standard assumptions relating to disposal fees having regard to the specifics of the Scheme and uses. They have also been discussed with the GLA and are deemed as appropriate allowances.
Vacant Possession Costs
8.14 The Estate Regeneration Statement which supports the planning application sets out the full process of resident decant but the key facts are as follows:
• To date 122 secure tenants and their families have moved from the estate (either temporarily or permanently); • 120 were re-housed in Westminster with two choosing to move out of the Borough (one of whom would like to return); • Out of the total who have moved, 75 households have signalled they want to return to the new estate; • 47 households have chosen to permanently move to another home in Westminster; • 71 secure tenants currently remain on the estate with 64 of these households expressing a desire to move into a new home once built; • Two resident leasehold households have temporarily moved and expressed a wish to return to a new home on the estate.
8.15 It is expected that approximately 25 resident leaseholders will be supported to return to a new home on the redeveloped estate.
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8.16 The cost provided by the Applicant that is attributed to the decant plan for the vacant possession of the Site equates to £108.1m. This figure has been included in the appraisal5.
8.17 Due to confidentiality, this evidence has not been included within this report but it can be provided if requested.
Finance Costs
8.18 The level of finance adopted within our appraisals has been adopted to reflect the delivery route, being wholly self-delivered by the Applicant or where Phases 2 and 3 are delivered with a joint venture partner.
8.19 Where the scheme is wholly delivered by the Applicant and also on Phase 1 of the joint venture scenario, the Applicant has advised us that an appropriate finance rate is 4.2%. We understand that this borrowing rate is related to a portfolio of debts and is not just related to the Scheme as a standalone project. A blended average rate of 4.2% to cover the cost of finance for the portfolio of projects is appropriate.
8.20 Where a joint venture partner is incorporated, GE has included a finance rate of 6.5% within the appraisal which we consider to be reasonable. The JV approach is a commercial agreement and a JV venture would not be able to borrow at the same level as a public body. Furthermore, the adoption of a finance rate of 6.5% was discussed previously with the GLAVT and we understand this to be a reasonable assumption. The approach and reasoning behind this is set out fully at Appendix 15.
Table 17: Finance Rate
Description Allowance
Finance Rate – Self-Delivery 4.2%
Finance Rate – Joint Venture 6.5%
Source: Gerald Eve
8.21 Due to the ongoing Brexit negotiations and economic impact of COVID-19, there is continued uncertainty around the impact on bank lending rates and we reserve the right to review this input.
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Programme
8.22 We have been provided with a programme by Gardiner & Theobald.
Table 18: Development Programme
Aspect of the Proposed Development Start Date Finish Date
Construction of Detailed Area Mid 2021 Mid 2023 Demolition for Blocks 1/5/6 Mid 2022 Early 2023 Construction and fit out of Blocks 1/5/6 Early 2023 2025 Demolition of Blocks 2/3/4/9 Late 2023 Early 2024 Construction and fit out of Blocks 2/3/4/9 Early 2024 2027
Source: Gardiner & Theobald
8.23 The development programme is at Appendix 16.
8.24 Given the nature of the scheme, GE consider the timescales to be reasonable however due to the long-term nature of the Scheme, we note these are likely to vary over the duration of the development.
8.25 Based on other schemes that we have reviewed of similar size and scale, we deem the timescale adopted to be reasonable.
Table 19: Summary of Scheme Cost Assumptions
Proposed Scheme Element GE Total Construction Cost £316m Contingency 5% Professional Fees 10% Letting Agents Fee 10% Letting Legal Fee 5% Sales Agents Fee 1% Sales Legal Fee 0.5% Marketing Fees 1.5% Programme (Total) 7 years JV - 6.5% Finance Self-delivery - 4.2% Source: Gerald Eve
5 WCC to provide further evidence regarding VP costs.
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8.26 We consider that all inputs into the appraisal have been reasonably justified. GE have clearly set out supporting and reasonable justification for all inputs into the appraisal. However, we do recognise that the current economic impact of COVID-19 may require some of these inputs to be updated to reflect potential future movements in the market.
Meanwhile Uses
8.27 The Ebury Edge project being delivered at the site of Edgson House is estimated to cost in the region of £1.9m. As this does not form part of the Scheme, we have considered the inclusion of this meanwhile use within our sensitivity analysis.
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9 Planning Obligations
In this section we consider the financial contribution of the planning obligations.
9.1 One of the requirements of the financial appraisal of the Scheme is to determine the maximum viable amount the scheme can reasonably support towards additional affordable housing contribution. In other words, to assess what the Scheme can afford taking into account the financial impact of these items as a whole.
Community Infrastructure Levy
9.2 The Government has introduced a Community Infrastructure Levy “CIL” to be paid by developers to help fund infrastructure required to support the development of its area. CIL is a charge that can be applied by planning authorities on new development to fund required infrastructure within their area. Statutory provision for CIL was introduced in the Planning Act 2008. The ability to charge CIL came into force 6 April 2010 through the Community Infrastructure Levy Regulations 2010.
9.3 The CIL charge will be calculated according to the amount of net additional floorspace a new development would create. The amount to be paid would be calculated when planning permission is granted and is paid when development starts, unless the charging authority adopts a payment policy.
9.4 Existing floorspace can only be deducted where it has been at least partially in lawful use for a continuous period of six of the 36 months ending on the date that planning permission first permits the chargeable development. In the case of a non-phased development this will be the date of the grant of the permission.
9.5 GE has been advised by Arup who have run the CIL scenario using assumptions which can be found at Appendix 17. After discussions with the Applicant the CIL liability to be assumed at this stage of the development are as follows.
Table 20: Applicants CIL Liability Calculation
Scenario Indicative Liability
Phase 1 – MCIL and WCC CIL £3,420,925
Phases 2 & 3 – MCIL and WCC CIL £12,728,497
Total £16,149,422
Source: Arup
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9.6 GE has been advised by Arup that the total CIL liability allowance for the Scheme is approximately £16.15m. This accounts for a CIL offset potential for the existing accommodation of circa. £7.27m, to be deduced from the liability in Phases 2 and 3.
Section 106
9.7 At this stage of the development, a detailed breakdown of S106 payments is not available. We have however taken advice from Arup on an estimate of the likely financial contribution which may be sought by WCC as financial mitigation. These are as follows:
• Carbon offset payment – Phase 1: £282,928 and Phase 2/3: £561,715; and
• TfL docking station - £200,000.
9.8 GE have used these figures within our appraisal. The carbon offset payment is payable at the commencement of construction of Phases 1 and 2. The TfL docking station payment is also assumed to be paid at the commencement of construction of Phase 1.
Affordable Housing
9.9 The London Plan states that Boroughs should seek the maximum reasonable amount of affordable housing when negotiating residential Schemes. In achieving this, Boroughs should take into account economic viability together with the individual circumstances of the Site and Scheme. It follows it is necessary for a developer to seek to obtain a planning permission capable of implementation that provides a return reflecting the risks associated with the overall investment. This will determine what is reasonable in respect of affordable housing levels as well as potential planning obligation payments.
9.10 The rest of this Section sets out a base planning obligations package which is incorporated into the Scheme. Whilst these are notional, it does form the basis from which conclusions are drawn as to the appropriate planning obligations package contribution for the Scheme. The table below shows the proposed affordable housing provision.
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Existing Site Housing Provision
9.11 The following table shows existing housing on the Site.
Table 21: Existing Housing Provision
Tenure 1-Bed 2-Bed 3-Bed 4-beds 5-beds TOTAL UNITS Social Rented 84 85 20 9 - 198 Private Leasehold 44 64 21 9 - 138 TOTAL 336
Source: WCC
Replacement of Affordable Housing
9.12 The Scheme replaces all the existing 198 social rented units (548 habitable rooms) on both a total floor area and habitable room basis and unit basis; and is therefore compliant with the London Plan.
Additional affordable housing
9.13 In addition to the replacement units, the Scheme provides an uplift of 166 affordable housing units, which equates to 589 affordable habitable rooms. This breaks down to an additional 41 Social Rent units (238 habitable rooms) and 125 intermediate units (351 habitable rooms). With a total net residential uplift of 1,180 habitable rooms proposed therefore, the 589 affordable habitable rooms equates to 50% of the total uplift.
Table 22: Proposed total Affordable Housing Provision
Affordable Housing % increase 548 affordable habitable rooms + 589 additional affordable habitable rooms. +c.53%
Total affordable habitable rooms = 1,137 Source: Applicant
9.14 Overall, the Applicant’s affordable development programme shows an increase of affordable homes, providing a wider range of affordable options in the area and promoting a more sustainable mixed community. This represents a significant investment by the Applicant in the area, a significant contribution towards meeting local affordable housing needs and a driver for a more sustainable demographic mix in this area.
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Package
9.15 The total notional planning obligations package is summarised below.
Table 23: Total planning obligations summary
Planning Obligations Amount On-site affordable housing 47% by unit of total scheme S106 £1.0m Mayoral CIL £16.1m WCC CIL
Source: GE / Applicant
9.16 This is the output that the appraisal seeks to test as being financially viable, having regard to the target rate of return and the potential to deliver the Scheme.
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10 Benchmark Land Value (BLV)
This section sets out the underlying basis of the adopted Benchmark Land Value (BLV). Our views are formed having regard to the NPPF, the NPG, AH&V SPG, and DCLG Estate Regeneration Guidance 2016.
10.1 It is recognised that NPG expects that viability is determine with regard to a Benchmark Land Value (BLV) which reflects the aggregate of the site’s EUV (component 1) and a premium for incentivising the landowner to release the land for development (component 2), or an alternative use value (‘AUV’), having regard to policy.
10.2 However, we also note DCLG guidance in relation to Estate Regeneration (2016) highlights that Estate Regeneration is a long-term process that often requires significant investment to support a wide range of activities. In many cases the risk profile of investment changes over time and can present challenges to ensure viable and sustainable delivery.
10.3 Therefore, in accordance with NPG, this section looks to establish the BLV for this Site. However, we ultimately recognise that the Estate regeneration nature of this project.
10.4 As set out below there are three primary elements to consider when taking into account Benchmark Land Value (BLV):
• Existing Use Value (EUV) plus a premium;
• Alternative Use Value (AUV); and
• Estate Regeneration.
Existing Use Value (EUV) (Component 1)
10.5 NPG indicates that EUV can reflect the land in its existing use together with the right to implement any development for which there are policy compliant extant planning consents.
10.6 In the instance of an affordable housing regeneration scheme, the RICS Valuation Standards (Red Book) sets an appropriate methodology for the valuation of social housing. The RICS indicates that social housing can be valued on the basis of EUV- SH having regard to the existing tenants and use of the property.
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10.7 The Council’s book value for the affordable housing element of Ebury Estate at March 2020 calculated upon an EUV-SH basis totals circa. £22.8m. We understand that this does not reflect the entirety of the estate and may exclude units that have been purchased on a leasehold basis or have been demolished. Therefore, it is possible the overall EUV of Ebury Estate may be higher when private elements are included. However, due to the decanting process, the Council are unable to identify the associated value beyond their book value and therefore we have not included any additional value in an estimate of EUV.
Premium to the Land Owner (Component 2)
10.8 The Premium for the land owner should reflect the minimum return that it is considered reasonable that the land owner would be willing to sell the land for development, while allowing sufficient contribution to comply with planning policy. In this instance, WCC as land owner are incentivised to release the land for redevelopment to deliver an estate regeneration and therefore GE do not consider the minimum premium to exceed EUV.
Estate Regeneration
10.9 Historically, estate regeneration schemes have almost always relied upon some government investment in the form of grant. Therefore, DCLG encourages Estate regeneration strategies to explore and promote innovative methods of financing estate regeneration, in ways that deploy limited public finance more effectively and ultimately reduce the need for such significant recourse to the public purse. A key element is often the promotion of a mix of tenures on previously single tenure estates to generate more value; another is project delivery methods such as Joint Ventures over a land sales.
10.10 The use of JV structures is intended to allow the public sector to be able to commit its land interests alongside private sector finance and expertise to facilitate the appointment of professionals, detailed community engagement, the design of outstanding schemes and the eventual letting of construction contracts. The delivery route for Phases 2 and 3 of the Scheme is still to be decided, including the option to pursue a JV agreement.
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10.11 Furthermore, DCLG Estate Regeneration guidance encourages landowners to explore options available to create the best possible chances for a viable scheme – namely that revenues are likely to be in excess of project costs; and this includes the potential contribution of land and property assets to assist with viability and phasing of delivery.
10.12 Therefore, the objective of Estate Regeneration for the landowner is not necessarily a financial return for the disposal of their land. Instead it could be that the minimum return at which it is considered a reasonable landowner would be willing to sell their land for the regeneration of the Estate itself. This effectively means the assessment would not require the inclusion of a land value within the viability or that an appropriate return would reflect £1. Albeit identifying land value may provide some indication of the level of investment to the regeneration project by the Landowner.
Applied Benchmark Land Value
10.13 We have arrived at an opinion of Site Value at which a reasonable landowner would be willing to sell for regeneration by:
• Applying a reasonable valuation judgement; • Informed by the relevant available facts; • Regard to the obligations and considerations related to the Site; • With a realistic understanding of the local area and the operation of the market; • Reflect all policy requirements; and • delivering a reasonable return to the landowner. • We have also assumed the Site is free of any encumbrances, or restrictions on title which would adversely affect the value.
10.14 The Applicant, as the landowner, has explored all options available to create the best possible chances for a viable Scheme – namely to support revenues/grant to exceed project costs. As well as design and mix the Applicant have looked to commit the underlying land asset to the viability at nil cost and will explore long-term partnerships with private sector investors in the later phases of the Scheme.
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10.15 Furthermore, government guidance on estate regeneration indicates development should look to de-risk delivery of estate regeneration and consider contribution of land to assist with viability. In this instance therefore we feel it is unnecessary and counter- intuitive to add a significant monetarised incentive to the landowner to release the land for development
10.16 Therefore, we have tested the viability of the application assuming a BLV of:
£1 (One Pound)
10.17 However, we recognise if the Applicant is not WCC or a JV with WCC for Phases 2 and 3 where they have acquired the property, a reasonable commercial value for the land would be expected as part of the disposal process i.e. if the Applicant transferred to another developer there would likely be a monetary contribution.
10.18 Furthermore, it seems reasonable to conclude that the landowner will not be willing to sell their land for a deficit in comparison with other options, including mothballing or change of use. Therefore, we maintain that the EUV of the Site to be at least £22.8m if the Site was to be sold on the open market
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11 Return to the Developer
This section of the report sets out the proposed return and the basis upon which a reasonable competitive return to a willing Developer has been considered and anticipated funding arrangements.
11.1 A significant factor in undertaking viability assessments for development purposes is the level of return which a developer might reasonably require from undertaking the development and in turn on what basis the Scheme could be funded and financed. This will depend on a number of factors including the size of the development, the perceived risks involved, the degree of competition between funding and finance institutions for the Scheme, the state of the market in terms of demand for and lot size of the completed development and the anticipated timescales for development and for receiving a return.
11.2 Development profit is usually necessary in order to attain investment to implement and deliver any given project. The level of profit is essentially the reward to the developer for the time, expertise and risk involved in carrying out the process of development.
11.3 In the case of public sector investment, it is usually accepted that a lower development return can be anticipated so long as appropriate risk contingency allowances are made which can be reflected in a return.
11.4 The NPG (2019) paragraph 018 (Ref 10-018-20120724) indicates that for the purpose of plan making an assumption of 15-20% of Gross Development Value (GDV) may be considered a suitable return to developers in order to establish the viability of plan polices. This is not a direct guidance for Scheme specific applications and that specific development returns need to account for type, scale and risk profile of the planned development. Furthermore, it is recognized that lower returns are considered more appropriate for affordable housing where risk to receipt of income are lower and alternative figures may also be appropriate for other types of development such as regeneration.
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11.5 We set out in the paragraph below the factors we have taken into account in formulating this view. We would, however, stress that whilst it is perfectly acceptable to set target rates, these may not be achieved in practice given the numerous uncertainties. By their nature, implied returns are not market tested and also relate to unrestricted land/property values as opposed to “restricted” Site Value in accordance with RICS GN.
11.6 The target rate of return adopted takes into account the following factors, which are specific to the Site and the Scheme:
• The Scheme is a redevelopment project comprising of a large number of units (758) residential units;
• The Scheme will be delivered over 3 Phases spanning a total timeframe of approximately 7 years;
• The Scheme delivery route is still to be determined for Phases 2 and 3 and therefore requires a suitable return will be required to reflect each delivery route;
• Ongoing uncertainty following the result of the EU Referendum;
• Ongoing uncertainty following the COVID – 19 outbreak;
• Continued cost inflation, particularly in a London context; and
• The normal risks associated with developing a major redevelopment Scheme in London.
11.7 It is common for standard development opportunities to be considered on a return on gross revenue (GDV) basis as indicated in both the NPG (2018) and the GLA SPG. GE note the GLA SPG indicates both targets can be considered and/or cross referenced. NPG (2018) indicates that potential risk to development is accounted for in the assumed return for developers and it regarded as the role the developers, not plan makers or decision makers, to mitigate these risks, not for obligations to maintain them.
11.8 Determination of an appropriate target rate of return can depend on a number of factors, but it is predicated on the risk associated with developing out the proposed Site. The more risk involved, the higher return the developer will require.
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11.9 GE considers that Profit on GDV would be the most appropriate target rate of return in this instance and this approach has been discussed with the GLA. In considering an appropriate target level of return it should be noted that this is a development scheme of 7 years and that this is also an estate regeneration as opposed to a speculative development.
11.10 We have modelled the Scheme based on two profit return allowances to reflect the two different approaches to delivery. Firstly, 6% to represent a public sector self- delivery model, which looks to recycle profitability into the Scheme. This represents the minimal allowance to allow for associated costs consistent with a Registered Provider for affordable housing. Secondly, a traditional commercial standard assessment approach reflecting the involvement of a commercial partner to WCC. This level will be required as a minimum to incentivise private investment in the latter phases of the Scheme.
Table 24: Target Return
Profit Return Profit Return Basis Self-delivery and JV Self-delivery Private 6% 17.% Profit on GDV A/H 6% 6% Profit on GDV Commercial 6% 15% Profit on GDV Blended Return 6% 14.9% Profit on GDV
Source: GE
11.11 We consider that all inputs into our appraisal have been reasonably justified and, in many instances, discussed with the GLA. GE have clearly set out supporting and reasonable justification for all inputs considered.
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12 Financial Appraisal Review
Below Gerald Eve (GE) sets out and review the Scheme appraisal. In the next section GE considers the sensitivity (in accordance with RICS GN) of this and the commensurate impact upon the potential of additional affordable housing contribution.
Summary of information provided by the Applicant
12.1 GE applied the inputs as set out within the previous sections to determine the financial appraisal output. This same exercise has been undertaken on the scenarios we have been asked to assess. A copy of the appraisals for the self-delivery position is included at Appendix 18 and the JV position at Appendix 19.
Summary of Appraisal Inputs (excluding additional contribution)
12.2 We have tested the Scheme considering two delivery methods for Phases 2 and 3, being self-delivery by the Applicant and a Joint Venture route. A summary of our position be presented below.
Summary of Self-Delivery Position
12.3 We summarise below the position should the Scheme be wholly delivered by the Applicant:
Table 25: Appraisal Summary – Present Day of the Scheme – Self-Delivery
Benchmark Land Residual Land Required WCC Applied Profit Value Value Funding
6% £1 -£560k £560k
Source: GE 12.4 The result indicates that in overall terms, the Scheme including the affordable housing of 364 units produces a deficit which can be brought up to a neutral position on the basis of the inclusion of £90m of funding from WCC, testing for this assessment.
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12.5 Therefore, this position can be considered as the maximum level of on-site affordable which can be reasonable requested by WCC/GLA and any obligation to increase the level of affordable housing beyond the proposed level would be contrary to guidance, policy and legislation.
12.6 Whilst WCC have access to funding to enable deliverability of the Scheme, which is included within our appraisal analysis, they will look to only implement this funding and any additional funding if market circumstances require it (i.e. remain constant).
Summary of JV Position
12.7 We summarise the position should Phases 2 and 3 of the Scheme be delivered by a Joint Venture Partner:
Table 26: Appraisal Summary – Present Day of the Scheme – JV Partner
Benchmark Land Residual Land Required Funding Applied Profit Value Value
14.9% £1 -£41.24m £41.24m
Source: GE
12.8 The result indicates that in overall terms, the Scheme including the affordable housing of 364 units reflects the maximum level of on-site affordable which can be reasonable requested by WCC/GLA and any obligation to increase the level of affordable housing beyond the proposed level would be contrary to guidance, policy and legislation. This appraisal assumes the inclusion of a JV partner, which increases the deficit as a result of the rate of finance that can be applied and the profit return that a partner would expect from the Scheme.
12.9 We have undertaken additional sensitivity to understand the requirements of deliverability under this model. At this juncture it would appear this is not the most advantageous approach; however market forces and partner opportunities may make this an alternative delivery route that may be considered further at Phases 2 and 3.
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13 Sensitivity & Scenario Analysis
The purpose of this section is to test the robustness of the Scheme from a quantitative perspective via a sensitivity analysis. As a result of the assessment in respect of the Scheme, the impact of planning obligations has been tested having regard to the target rate of return.
13.1 In order to assess the robustness of the viability of the proposals, it is necessary to consider the pricing and cost inputs to the financial model.
Sensitivity Analysis – Present Day
13.2 A sensitivity analysis is a simplistic (but widely used) approach for testing viability and the robustness of the Scheme. Uncertainties can be identified in respect of the inputs and their effects can then be looked at in terms of the development return and then the level of planning payment. In short, this is a straightforward deterministic approach from which a judgement needs to be made as to the appropriateness of the outcome. Benchmarks can be used as performance measures. A prudent developer will also consider the sensitivities of a development and assess the risks of the particular project.
13.3 GE undertook an assessment of the impact of variation to both proposed private residential sales values and overall construction costs. The impact on the return is presented in the following tables.
Table 27: Scheme Sensitivity Analysis – Sale Values and Construction Cost (Self- Delivery) Sale: rate /ft²
-5.00% -2.50% -0.00% 2.50% 5.00%
-5.00% £13.5m £20.7m £28.0m £35.2m £42.5m
-2.50% -£778k £6.5m £13.7m £20.9m £28.2m -0.00% -£15.0m -£7.8m -£560k £6.7m £13.9m
2.50% -£30.0m -£22.1m -£14.8m -£7.6m -£341k
GrossCost Construction: 5.00% -£44.7m -£37.0m -£29.4m -£21.9m -£14.6m Source: GE
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13.4 The table above demonstrates that with any decreases in sales values or increases in costs, the Scheme is in a deficit position and would require additional funding. The Scheme will be carefully monitored throughout its lifetime.
13.5 It is also important to note that the Scheme has been tested with the inclusion of WCC funding in the order of £90m. Without this funding, the Scheme would be in a deficit position.
Table 28: Scheme Sensitivity Analysis – Sale Values and Construction Cost (Joint Venture) Sale: rate /ft²
-5.00% -2.50% -0.00% 2.50% 5.00%
-10.00% -£25.5m -£19.5m -£13.7m -£8.0m -£2.2m
-5.00% -£39.6m -£33.3m -£27.1m -£21.1m -£15.2m -0.00% -£54.0m -£47.6m -£41.2m -£35.0m -£28.7m
5.00% -£68.6m -£62.1m -£55.7m -£49.2m -£42.9m
GrossCost Construction: 10.00% -£83.3m -£76.8m -£70.2m -£63.8m -£57.3m
Source: GE
13.6 The sensitivity table demonstrates based on the Joint Venture delivery approach the Scheme does not achieve a viable position. As stated above, the Scheme has been tested with the inclusion of WCC funding in the order of £90m. Without this funding the deficit would be greater.
Ground Rent Sensitivity Analysis
13.7 As discussed with the GLA, we have also tested the Scheme on the basis that ground rents are included. With the inclusion of ground rents, the residual land value of the self-delivery equates to £2.8m and of the JV scenario equates to -£38.3m.
Meanwhile Uses Sensitivity Analysis
13.8 We have also tested the Scheme on the basis of the inclusion of the cost of delivering the meanwhile use project Ebury Edge. With the inclusion of the cost of this project at circa. £1.9m, the residual land value of the self-delivery equates to -£2.5m and the JV scenario equates to -£43.1m.
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Summary
13.9 Whilst the assessment of the proposed development on current day appears to suggest a return below the target rate, we understand that the Scheme constitutes an estate regeneration and the Applicant is willing to go ahead with the development to provide new housing. The self-delivery scenario results in a deficit which can be brought up to a neutral position with the inclusion of £90m of WCC funding. The deficit in the JV scenario is within a range deemed tolerable for the Applicant to cover.
13.10 The tables above indicate that the Scheme is possible to being viable through the self-delivery route, however in addition to land value and profit recycling in the scheme, this outcome assumes the inclusion of circa £90m of WCC regeneration funding. This funding, however, is provided on the assumption the scheme maximises self-financing through revenue and cost considerations. Therefore, any improvements in viability will effectively look to reduce required funding to deliver the proposed scheme.
13.11 The JV approach would require large movements in market forces to be viable at this moment in time. However, this doesn’t negate the prospect of a partner opportunity being reconsidered at latter stages of the development. However, a JV partner will not be capable of recycling profit and funding to the same extent.
13.12 Including ground rents does not change the overall outcome and the construction costs would require significant reduction to result in a viable outcome (see also paragraph 6.10). The inclusion of the construction cost of the meanwhile uses increases the funding that would be required.
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14 Concluding Financial Justification Statement
In this section we outline the conclusions of the report.
14.1 Gerald Eve LLP (‘GE’) has been instructed by Westminster City Council’s regeneration team (‘the Applicant’) to undertake a Financial Viability Assessment (‘FVA’) with associated information in connection with the discussions for a planning application for the proposed estate regeneration comprising of the demolition of all existing buildings on-site to be replaced with 781 homes of mixed tenure (‘the Scheme’) at the Ebury Estate (‘the Site’).
14.2 GE’s instructions are to undertake an assessment of the FVA in accordance with the RICS Financial Viability in Planning mandatory guidance (2019) to verify whether the Scheme reflects the maximum reasonable level of affordable housing provision, to assist in determination of the planning application against adopted planning policies and guidance.
14.3 This report has been prepared as at January 2021, however, in the context of the prevailing economic climate and COVID-19 we have relied upon the best available evidence at the time. Should circumstances change it may be necessary to revise and update the inputs to the financial appraisal, and therefore resulting outturns.
14.4 Our financial viability assessment, whilst reported in accordance with the RICS Professional Statement on “Financial Viability in Planning: report and conduct” is provided on the basis of material uncertainty. Consequently, less certainty – and a higher degree of caution – should be attached to our financial viability assessment than would normally be the case.
14.5 Using market evidence, we have applied the anticipated revenues and costs that should be expected from the development of the Scheme. The advice on inputs have been reviewed and supplemented where appropriate with our own experience and knowledge of these markets.
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14.6 In accordance with NPG (2019), in arriving at an opinion of a reasonable BLV, GE has applied a valuation judgement; informed by the relevant available facts, a realistic understanding of the local area and of the operation of the market. GE considers the BLV of £1 to be reasonable in the context of estate regeneration.
14.7 GE considers a reasonable profit return on the private GDV having regard to risks of the Scheme to be 6% on a self-delivery basis and 14.9% on a JV basis. Based on the proposed Scheme, on a current day basis is in a deficit which can be brought up to a neutral position on a self-delivery basis via WCC funding and is in a deficit position in the order of £41.2m on a JV basis.
14.8 It is important to note, however, that the neutral position on a self-delivery basis is achieved with the inclusion of WCC funding, in the order of £90m and without this funding the Scheme would be in a deficit position. The JV model produces a scheme deficit of circa. -£41.2m even with the inclusion of WCC funding (also applied at £90m).
14.9 Furthermore, sensitivity testing was undertaken on each scenario which indicated that the Scheme is viable through the self-delivery route, however this is on the basis that the Scheme has already received funding in the order of £90m. Should there be an increase in cost or decrease in value, the Scheme may become in a deficit position. In any event we understand that the Scheme is viable as WCC are able to meet the deficit through additional funding. The JV approach would require substantial movements or additional funding.
14.10 Further sensitivity including ground rents suggests this does not make a material difference to the outcome in either scenario (see also 6.10). The inclusion of the construction cost of the meanwhile uses increases the funding that would be required.
14.11 GE has robustly tested the proposed Scheme and concludes that the level of proposed on-site affordable housing and planning obligations package represents the maximum reasonable amount, meeting the requirements of policy associated with regeneration of housing estates in London and that the Scheme is potentially capable of being viable through small movements in market assumptions or additional investment by WCC.
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Appendix 1: RICS Professional Statement Reporting Sign Off
Appendix 1 - Reporting Sign Off
We set out below our sign off for each of the requirements of RICS Professional Statement Financial Viability in Planning: conduct and reporting (1st edition 2019). This is a requirement of practice for RICS members and firms and is regulated by RICS.
Report and process requirements FVA Sign off (reference paragraph from Reference Professional Statement) (section/ Partner (Lead) paragraph)
2.1 Objectivity, impartiality and reasonableness Contents statement Page and Section 1.9 2.2 Confirmation of instructions and absence of Contents conflicts of interest Page and Section 1.11 2.3 A no-contingent fee statement Contents Page and Section 1.11 2.4 Transparency of information Contents
Page
2.5 Confirmation where the practitioner is acting Contents on area-wide and scheme-specific viability Page assessments 2.6 Justification of evidence and differences of Contents opinion Page
2.7 Site Value and supporting evidence Section 10
2.8 FVA origination, reviews and negotiations Contents
Page
2.9 Sensitivity analysis Section 13
2.10 Engagement Contents
Page
2.11 Non-technical summaries Page 5 – 7
2.12 Author(s) sign off Contents
Page
2.13 Inputs to reports supplied by other contributors Section 1.13
2.14 Timeframes for carrying out assessments Section 1.12
Appendix 2: Summary of GLA and Carter Jonas Discussions
Ebury Bridge Estate – Summary of discussions with Carter Jonas and the GLA
1. The Hybrid Outline Planning Application for the Ebury Bridge Estate, Ebury Bridge Road, SW1W 8PX (LPA Ref: 20/04366/COOUT) was submitted to Westminster City Council’s Planning Department (‘WCC LPA’) and validated as received on 10th July 2020. As part of this submission, Gerald Eve submitted a financial viability assessment (FVA).
2. The GLA Viability Team (GLAVT) reviewed the submitted FVA and provided a response in October 2020. The response follows our discussions with them prior to the submission of the FVA during which many of the proposed inputs to the submission were discussed and agreed as being reasonable.
3. Furthermore, Carter Jonas, on behalf of the LPA, have also reviewed the FVA and provided a review report, dated September 2020, received in November 2020.
4. The below table sets out the inputs to the FVA and the responses in respect of each one from both the GLA and Carter Jonas.
5. The updated FVA addresses the points raised by both the GLA and Carter Jonas.
Updates to FVA (Jan Element The Proposed Scheme GLA Comments Carter Jonas Comments 21) NIA (sqm) NIA (sq ft) Private Residential 23,529 253,263 Affordable Housing 29,900 321,847 N/A Agreed Residential Total 53,429 575,1101 Commercial 2,848 30,656 Revenue Private residential £369m (off plan 35%) Considered conservative. Agreed sales values Updated social rents provided by WCC. Further clarification Difference of £5.72m in Social rent (new) units required on whether the Affordable Housing £58.7m GDV, predominately now valued at intermediate rent units related to the social rents. £146,332 per unit meet affordability criteria. (previously £119,322 per unit) WCC Regeneration Further sensitivity testing Total Grant: £105m Assumed to be correct Funding required. AY have updated their advice for this unit – Difference in rental value Commercial £12.7m N/A estimated rent is now applied to D2 unit. £22.50 psf (previously £12.50 psf). Query as to the yield applied Ground Rents Tested in sensitivity analysis Agreed in the sensitivity testing. Cost 2% reduction to shell and Clarification required as to Discussions ongoing core and fit out costs, as Construction Cost £316m if the cost plan will be between G&T and advised by Johnson independently reviewed. Johnson Associates. Associates. Professional/ Design 10% N/A Agreed fees Contingency 5% N/A Agreed Phase 1 – Mid 2021 – Mid 2023 Programme N/A Agreed Phase 2 – Mid 2022 - 2025 Phase 3 – Late 2023 – 2027 CIL allowance Agreed, subject to £16.2m N/A (Mayoral/Borough) Council sign off Agreed, subject to Estimated S106 £1.0m N/A Council sign off 1.5% of private residential Marketing N/A Agreed and non-residential uses Letting agents (commercial and 10% N/A Agreed community) Private sales legal 5% N/A Agreed Sales agents 1.0% of private residential N/A Agreed Sales legal 0.5% of total residential N/A Agreed
Further information Assumed to be accurate, Vacant Possession £108.1m requested as to the however further Cost evidence base behind this. information requested. Self-delivery – 4.2% Query if JV scenario could Finance Agreed Self-delivery and joint borrow at a lower rate. venture – 6.5% Benchmark Land £1 (to reflect regeneration) N/A Agreed Value
1 Areas within the appraisal vary slightly to architectural drawings resultant of rounding through exchange of sq m to sq ft (less than 1% variance).
Return Self-delivery – 6%
Self-delivery and joint venture – 14.8% (17% Target Return private, 10% market N/A Agreed (blended) replacement units 6% Affordable, 12% commercial/community) on GDV
Appendix 3: Planning Policy Summary
Planning Policy and related matters
Introduction
1.1 This Appendix contains a brief overview of relevant planning background to the Scheme and Site. A more detailed assessment is contained within the Planning Statement.
1.2 Whilst this Appendix provides some of the policy context for the application it focuses on particular policies which set the background and need for viability assessments in order to justify the level of planning obligation contributions including affordable housing.
1.3 In plan making and decision making viability helps to strike a balance between the aspirations of developers and landowners, in terms of returns against risk, and the aims of the planning system to secure maximum benefits in the public interest through the granting of planning permission.
National Planning Policy Framework (‘NPPF’)
1.4 The National Planning Policy Framework (“NPPF”) was first published in March 2012, and subsequently revised in July 2018 and February 2019. The NPPF sets out the Government’s economic, environmental and social planning policies for England. It summarises in a single document all previous national planning policy advice. Taken together, these policies articulate the Government’s latest vision of sustainable development, which should be interpreted and applied locally to meet local aspirations.
1.5 The objective of the NPPF is to support the Government’s objective of significantly boosting the supply of homes, recognising it is important that a sufficient amount and variety of land can come forward where it is needed, that the needs of groups with specific housing requirements are addressed and that land with permission is developed without unnecessary delay.
1.6 In respect of affordable housing, paragraph 34 of the NPPF aims to ensure Local Plans (“LP”) set out the contributions expected from a development. This should include setting out the levels and types of affordable housing provision required, along with other infrastructure. The NPPF makes it clear that policies should not undermine the deliverability of the plan.
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1.7 The NPPF also recognises that development should not be subject to such a scale of obligation and policy burdens that its viability is threatened. This reinforces the need for viability testing in order to allow willing landowners and developers to receive competitive returns which in turn enable the delivery of development.
1.8 Paragraph 41 of the NPPF looks to guide Authorities to address and resolve planning issues at the pre-application stage, including the need to deliver improvements in infrastructure and affordable housing.
1.9 The NPPF indicates that where a need for affordable housing is identified, planning policies should specify the type of affordable housing required, and expect it to be met on-site unless:
a) off-site provision or an appropriate financial contribution in lieu can be robustly justified; and
b) the agreed approach contributes to the objective of creating mixed and balanced communities.
1.10 The NPPF indicated that provision of affordable housing should not be sought for residential developments that are not ‘major developments’, other than in designated rural areas (where policies may set out a lower threshold of 5 units or fewer). Paragraph 63 also highlights that to support the re-use of brownfield land, where vacant buildings are being reused or redeveloped, any affordable housing contribution due should be reduced by a proportionate amount.
1.11 Paragraph 64 indicates that where major development involving the provision of housing is proposed, planning policies and decisions should expect at least 10% of the homes to be available for affordable home ownership, unless this would exceed the level of affordable housing required in the area, or significantly prejudice the ability to meet the identified affordable housing needs of specific groups.
1.12 Exemptions to this 10% requirement should also be made where the site or proposed development:
• provides solely for Build to Rent homes; • provides specialist accommodation for a group of people with specific needs (such as purpose-built accommodation for the elderly or students);
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• is proposed to be developed by people who wish to build or commission their own homes; or • is exclusively for affordable housing, an entry-level exception site or a rural exception site.
1.13 Paragraph 57 of the NPPF states:
‘Where up-to-date policies have set out the contributions expected from development, planning applications that comply with them should be assumed to be viable. It is up to the applicant to demonstrate whether particular circumstances justify the need for a viability assessment at the application stage.’ – our emphasis.
1.14 Paragraph 57 goes on to indicate that:
‘the weight to be given to a viability assessment is a matter for the decision maker, having regard to all the circumstances in the case, including whether the plan and the viability evidence underpinning it is up to date, and any change in site circumstances since the plan was brought into force.’ – our emphasis.
1.15 Finally Paragraph 57 states:
‘All viability assessments, including any undertaken at the plan-making stage, should reflect the recommended approach in national planning guidance, including standardised inputs, and should be made publicly available’. – our emphasis.
National Planning Guidance (NPG)
1.16 The NPG is an online resource which provides guidance to support the NPPF and to make it more accessible. It was first launched in March 2014 and most recently updated in October 2019. In July 2018 new viability guidance was provided and the viability section was most recently updated in September 2019.
1.17 The viability section of the NPG comprises four sections: a) Viability and plan making; b) Viability and decision making; c) Standardised inputs to viability assessment; and d) Accountability. The statements below are from the NPG Viability Guidance found on the Governments online planning portal: https://www.gov.uk/guidance/viability .
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1.18 The NPG addresses the question of when and how viability should be assessed by the Council in respect of planning applications. The NPG indicates that viability should be tested at the plan stage and therefore it is not anticipated viability assessments will be generally be necessary and it is up to the applicant to justify as to why viability is necessary in a particular instance.
Such circumstances could include, for example:
• where development is proposed on unallocated sites of a wholly different type to those used in viability assessment that informed the plan;
• where further information on infrastructure or site costs is required;
• where particular types of development are proposed which may significantly vary from standard models of development for sale (for example build to rent or housing for older people);
• where a recession or similar significant economic changes have occurred since the plan was brought into force.
Paragraph: 007 Reference ID: 10-007-20180724
1.19 Where a viability assessment is submitted to accompany a planning application the FVA should be based upon and refer back to the viability assessment that informed the plan; and the applicant should provide evidence of what has changed since then.
1.20 Any viability assessment should reflect the government’s recommended approach to defining key inputs as set out in National Planning Guidance.
1.21 It is understood that the weight to be given to a viability assessment will be a matter for the decision maker, having regard to all the circumstances in the case, including:
• whether the plan and viability evidence underpinning the plan is up to date,
• any change in site circumstances since the plan was brought into force; and
• the transparency of assumptions behind evidence submitted as part of the viability assessment.
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1.22 NPG considers a viability assessment is a process of assessing whether a site is financially viable, by looking at whether the value generated by a development is more than the cost of developing it. This includes looking at the key elements defined as the gross development value, costs, land value, landowner premium, and developer return.
1.23 NPG indicates that any viability assessment should:
• be supported by appropriate available evidence informed by engagement with developers, landowners, and infrastructure and affordable housing providers.
• follow the government’s recommended approach to assessing viability as set out in this National Planning Guidance; and
• be proportionate, simple, transparent.
1.24 The requirements of the key elements are defined in the body of the financial viability report.
The Greater London Authority Affordable Housing and Viability SPG
1.25 The Affordable Housing and Viability SPG (“the AH&V SPG”) was adopted in August 2017 and focuses on affordable housing and viability including detailed guidance on viability assessments. The guidance seeks amongst other things to clarify viability appraisals and appropriate land values.
1.26 The AH&V SPG focuses on affordable housing and viability. It includes four distinct parts: background and approach; a background to what the Mayor terms “the threshold approach” to viability assessments; detailed guidance on viability assessments; and a specific approach to Build to Rent schemes.
1.27 Paragraph 1.3 of Part One of the AH&V SPG states:
“…the SPG provides guidance to ensure that existing policy is as effective as possible. It does not and cannot introduce new policy.”
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1.28 Paragraph 1.13 of Part One of the AH&V SPG states:
“The London Plan is clear that boroughs should take account of supplementary planning guidance when implementing Policies 3.9 (Mixed and balanced communities), 3.11 (Affordable housing targets), and 3.12 (Negotiating affordable housing on individual private residential and mixed use schemes).”
1.29 Paragraph 1.13 of Part One of the AH&V SPG states:
“The London Plan is clear that boroughs should take account of supplementary planning guidance when implementing Policies 3.9 (Mixed and balanced communities), 3.11 (Affordable housing targets), and 3.12 (Negotiating affordable housing on individual private residential and mixed use schemes).”
1.30 Paragraph 2.1 of Part Two of the AH&V SPG states:
“This SPG does not and cannot set a fixed affordable housing requirement.”
1.31 Paragraph 2.5, however, states:
“Where the level of affordable housing offered meets the threshold, this should normally be considered the maximum reasonable amount of affordable housing which can be delivered through the planning system (subject to an early review mechanism to help ensure delivery). However, this will only apply where the affordable housing threshold, relevant tenure split and other requirements are met without public subsidy.”
1.32 The definition of ‘threshold’, which is ‘at least 35%’, is what the Mayor therefore ‘normally’ considers to be the maximum reasonable amount of affordable housing across all schemes that require a viability assessment. Schemes that meet the ‘threshold’, (defined in detail by the Mayor) will head down the “Fast Track Route”, and those schemes not meeting the Mayor’s definition of ‘threshold’ will head down the “Viability Tested Route”.
1.33 Paragraph 2.18 then goes on to state:
“…. it (35%) is not a fixed level of affordable housing, but a threshold at which the approach to viability information changes. This means schemes which cannot deliver the threshold can still gain permission where the lower level of affordable housing is fully justified through site-specific viability assessments.”
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1.34 Part Three of the AH&V SPG deals with guidance on submitting a viability assessment, and what should be contained including justification on: programme; scheme values and costs using market evidence; and developer’s profit.
1.35 At paragraph 3.43 the AH&V SPG states:
“The ‘Existing Use Value plus’ (EUV+) approach to determining the benchmark land value is based on the existing use value of a site plus an appropriate site premium…….. A premium is usually added to provide the landowner with an additional incentive to release the site, having regard to site circumstances.”
1.36 In relation to what the Mayor terms “market value approach”, paragraph 3.49 states:
“.....Market land transactions used must be fully evidenced and justified as being genuinely comparable and consistent with the methodology applied in the viability assessment….”
1.37 Paragraphs 3.53 to 3.66 (and Annex A) of the AH&V SPG provide a detailed and prescriptive approach to review mechanisms within S106 Agreements. If a review mechanism is not included then a scheme will not meet the Mayor’s definition of ‘threshold approach’.
1.38 The SPG shows a preference to an EUV plus method with the plus varying to reflect the specifics of the scheme. The SPG notes that the Market Value and Alternative Use Value should reflect planning policy and in the case of the alternative use, to be deliverable it should fully comply with development plan policies. The SPG also promotes review mechanisms on all schemes, disregarding phasing or length of development programme.
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Regional Planning Policy
The London Plan (2016)
1.39 The London Plan, July 2011 consolidated with alterations (March 2016) is the Regional Spatial Strategy for Greater London defined to include the 32 Boroughs and the City of London. The aim of the London Plan is to set out a framework to co-ordinate and integrate economic, environmental, transport and social considerations over the next 20 to 25 years. The London Plan forms the London-wide policy context within which the Boroughs set their local planning agendas, and forms part of the statutory Development Plan.
1.40 The London Plan builds upon many of the policies set out at the national level with a significant emphasis upon achieving development in the most suitable and sustainable of locations, prioritising the use of previously developed land and making the most efficient use of available land.
1.41 The growth and management of the city form the major challenge and overarching concern of the London Plan, and are prioritised in order to allow London to excel among global cities within the context of significant rates of development and population increases. The detailed objectives of the Plan seek to ensure that London are set out below:
• A city that meets the challenges of economic and population growth;
• An internationally competitive and successful city;
• A city of diverse, strong, secure and accessible neighbourhoods;
• A city that delights the senses;
• A city that becomes a world leader in improving the environment; and
• A city where it is easy, safe and convenient for everyone to access jobs, opportunities and facilities.
1.42 The London Plan seeks that development should maximise the potential of sites, create or enhance the public realm, provide or enhance a mix of uses, respect local context, character and communities and be sustainable.
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1.43 Policy 3.8 states, that whilst boroughs should seek the maximum reasonable amount of Affordable Housing, regard should be had to the need to encourage rather than restrain residential development. Negotiations on sites should take account of their individual circumstances, including development viability.
1.44 Policy 3.10 goes on to state that affordable housing including affordable rented and intermediate housing, should be provided to meet the needs of specific households whose needs are not met by the market.
1.45 Policy 3.12 states that the maximum reasonable amount of affordable housing should be sought when negotiating on mixed use schemes. In particular the policy sets out that regard should be had to the current and future requirements for affordable housing at local and regional levels. Going on to state that there is a need to encourage rather than restrain residential development and promote mixed and balanced communities. The size and type of affordable housing delivered should reflect the size and type of affordable housing currently in need. Part B of Policy 3.12 states that negotiations on sites should take account of their individual circumstances including the viability of schemes and the availability of public subsidy.
1.46 The Affordable Housing thresholds are set out in Policy 3.13 which states that Boroughs should normally require affordable housing provision on a site which has capacity to provide 10 or more homes.
1.47 Paragraph 3.37 of the London Plan reiterates that the Mayor wishes to encourage, not restrain, overall residential development and that Boroughs should take a reasonable and flexible approach to securing affordable housing on a site by site basis.
‘Intend to Publish’ (July 2019)
1.48 The Draft New London Plan is the Regional Spatial Strategy for Greater London defined to include the 32 Boroughs and the City of London.
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1.49 The Examination in Public (EiP) on the London Plan was held between 15th January and 22nd May 2019. The Panel of Inspectors appointed by the Secretary of State issued their report and recommendations to the Mayor in October 2019. The Mayor has considered the Inspectors’ recommendations and in December 2019, issued to the Secretary of State his intension to publish the Intend to Publish London Plan, a statement of reasons for any of the Inspectors’ recommendations and a note that sets out a range of interventions that will help achieve the housing delivery set out in the Plan.
1.50 The Draft New London Plan promises to change one of the key foundations of planning policy for development in Greater London. A principal concept in the London Plan is “Good Growth,” which is defined as “sustainable growth that works for everyone” to improve the health and quality of life for all Londoners, and in particular by rebalancing housing development towards more genuinely affordable homes for Londoners to buy and rent.
1.51 The Draft New London Plan with suggested minor changes sets out the emerging policy in relation to the required tenure split under Policy H7. This includes the following:
• Minimum of 30 per cent low cost rented homes, as either London Affordable Rent or Social Rent, allocated according to need and for Londoners on low incomes;
• a minimum of 30 per cent intermediate products which meet the definition of genuinely affordable housing, including London Living Rent and London Shared Ownership;
• The remaining 40 per cent to be determined by the borough as low cost rented homes or intermediate products based on identified need.
1.52 The emerging policy also emphasises the Mayors priority to deliver “genuinely affordable housing” including all of the affordable housing products listed in the above section.
1.53 The emerging policy also sets out the annual household income requirements and affordability levels.
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1.54 For dwellings to be considered affordable, annual housing costs, including mortgage (assuming reasonable interest rates and deposit requirements), rent and service charge, should be no greater than 40 per cent of new household income.
1.55 The emerging Draft New London Plan is aligned to the GLA’s SPG for Affordable Housing and Viability which is discussed in the following section.
Local Planning Policy
1.56 At the local level, WCC’s development plan comprises the ‘saved’ policies within the Unitary Development Plan (adopted January 2007), the City Plan (adopted November 2016) and the London Plan (adopted March 2016).
1.57 WCC is also working on their full revision of the City Plan. The formal consultation, known as the Regulation 19 stage, has now closed. The Council will now review the comments received and the City Plan 2019 – 2040 will be submitted for examination in the autumn.
Affordable Housing
1.58 The Site is allocated in the adopted WCC City Plan as Proposal Site F2 and in the emerging Draft City Plan as a Key Development Site and a Housing Renewal Area.
1.59 WCC City Plan Policy S16 protects existing affordable housing floorspace and also states that the Council will aim to exceed 30% of new homes to be affordable homes. Proposals for developments of either 10 or more additional units or over 1,000 sqm additional residential floorspace will be expected to provide a proportion of the floorspace as affordable housing.
1.60 The policy justification states that there is an acute shortage of affordable housing floorspace within WCC and therefore the existing floorspace must be safeguarded. Furthermore, the policy states that existing housing estates can, in appropriate circumstances, provide opportunities for new infill development and redevelopment to higher densities.
1.61 Affordable housing requirements should be provided on-site to create mixed and sustainable communities. Where this is not possible, providing the affordable housing in the vicinity will contribute towards socially balanced communities.
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1.62 Where it is not possible to provide the affordable housing on-site or the Council considers a better option to be available, the Council will take into account the differing land values between the doner site and the affordable housing site when calculating the off-site affordable floorspace.
Summary
1.63 The NPPF has a clear presumption in favour of sustainable development and local planning authorities should take account of this when determining planning applications.
1.64 The NPPF recognises that development should not be subject to such a scale of obligation and policy burdens that its viability is threatened; and in addition, obligations should be flexible to market changes in order to ensure planned development are not stalled. This reinforces the need for viability testing in order to allow willing landowners and developers to receive competitive returns which in turn enable the delivery of development.
1.65 Where local planning authorities have identified that affordable housing is needed, they should set policies for meeting this need on site, unless off-site provision or a financial contribution of broadly equivalent value can be robustly justified.
1.66 NPG recognises that the individual circumstances of any scheme should be taken into consideration when assessing viability. Councils are therefore encouraged to be flexible with regards to planning obligations if the applicant is able to demonstrate that such obligations would make a scheme unviable.
1.67 In assessing the level of planning obligations, including affordable housing provision, in accordance with the LP, regard must be had to the economics of development and financial viability considerations associated with the scheme proposals and other planning objectives and requirements.
1.68 In respect of affordable housing, a key document is the WCC City Plan Policy S16, which resists the loss of existing affordable housing floorspace.
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1.69 The AH&V SPG seeks to clarify viability appraisals and appropriate land values. The SPG provides guidance to ensure that existing policy is as effective as possible but it does not and cannot introduce new policy. The LP is clear that boroughs should take account of supplementary planning guidance when negotiating affordable housing on individual private residential and mixed use schemes. The SPG does not and cannot set a fixed affordable housing requirement.
1.70 It is important that the approach taken to affordable housing and scheme viability does not compromise the ability to deliver residential development on the Site.
1.71 The provision of affordable housing via a financial contribution should be considered in accordance with WCC policy.
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Appendix 4: Viability Guidance
Professional Guidance (RICS)
Introduction
1.1 This section summarises the extracts of the RICS Guidance Note: Financial Viability in Planning (“the RICS GN”) and the RICS Professional Statement: Financial Viability in Planning – Conduct and Reporting (“the RICS PS”) relevant to undertaking a viability assessment.
The RICS Guidance Note: Financial Viability in Planning
1.2 The RICS GN was published in August 2012. The purpose of the guidance note is to enable all participants in the planning process to have a more objective and transparent basis for understanding and evaluating financial viability in a planning context. It provides practitioners with advice in undertaking and assessing viability appraisals for planning purposes.
1.3 The RICS GN defines financial viability for planning purposes; separates the key functions of development, being land delivery and viable development (in accordance, and consistent, with the NPPF); highlights the residual appraisal methodology; defines site value for both scheme specific and area-wide testing in a market rather than hypothetical context; what to include in viability assessments; terminology and suggested protocols; and the uses of financial viability assessments in planning.
1.4 The guidance note provides all those involved in financial viability in planning and related matters with an objective methodology framework and set of principles that can be applied for both plan making and development management.
1.5 The guidance note is grounded in the statutory and regulatory planning regime that currently operates in the UK. It is consistent with the Localism Act 2011, the NPPF, and the CIL Regulations 2010.
1.6 Financial viability for planning purposes is defined as follows: -
“An objective financial viability test of the ability of a development project to meet its costs including the cost of planning obligations, whilst ensuring an appropriate site value for
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the landowner and a market risk adjusted return to the developer in delivering that project.”
1.7 This FVA and accompanying analysis have been prepared fully in accordance with the provisions of the RICS GN.
1.8 We understand that a second edition of the RICS GN is in the course of preparation in response to recent case law and following the publication of the revised NPPF and NPG. We believe the principles set out in the 2012 RICS GN are still relevant to current viability assessments notwithstanding the revisions to the NPPF and NPG. In applying these principles, we do however take into account these revisions in undertaking our assessment.
The RICS Professional Statement: Financial Viability in Planning – Conduct and Reporting
1.9 In July 2018 a revised NPPF and National Planning Practice Guidance (NPG) were issued. The NPPF was further updated in February 2019 and the NPG updated in May 2019. This followed the earlier decision in Parkhurst Road Ltd v Secretary of State for Communities and Local Government & Anor [2018] EWHC 991. The RICS Professional Statement (May 2019) has therefore been informed by the NPPF, NPG and the High Court decision, as well as practitioner experience.
1.10 The Professional Statement sets out mandatory requirements that inform the practitioner on what must be included within financial viability assessments and how the process must be conducted. The rationale for the practice statement reflects that planning applications involve a statutory process that is subject to public scrutiny where often viability assessments are important and need to provide public confidence in a process that is inevitably complex, but nevertheless must inform the planning decision-maker.
1.11 The Professional Statement is effective from 1 September 2019 and applies to all Chartered Surveyors and regulated firms of Chartered Surveyors. It applies to both area wide (policy making) and scheme specific assessments (decision making). The Practice Statement is mandatory to originators of viability assessments as well as reviewers and in area with viability assessments.
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1.12 The purpose of the Practice Statement is to demonstrate how a reasonable, objective and impartial outcome, without interference, should be arrived at, and so support the statutory planning decision process. It also aims to support and complement the government's reforms to the planning process announced in July 2018 and subsequent updates, which include an overhaul of the NPPF and NPG on viability and related matters. The new policy and practice advice prioritise the assessment of viability at the plan-making stage and identifies existing use value as the starting point for assessing the uplift in value required to incentivise the release of land.
1.13 It should be noted that the practice statement was in effect approved by both the MHCLG and GLA (it was also reviewed by the Law Society, RTPI, Planning Officers Society and other sector representatives).
1.14 The practice statement sets out 14 mandatory requirements for all RICS practitioners when undertaking viability assessments:
2.1 Objectivity, impartiality and reasonableness statement
2.2 Confirmation of instructions and absence of conflicts of interest
2.3 A no contingent fee statement
2.4 Transparency of information
2.5 Confirmation where the RICS member is acting on area-wide and scheme-specific FVAs
2.6 Justification of evidence and differences of opinion
2.7 Benchmark land value and supporting evidence
2.8 FVA origination, reviews and negotiation
2.9 Sensitivity analysis (all reports)
2.10 Engagement
2.11 Non-technical summaries (all reports)
2.12 Author(s) sign-off (all reports
2.13 Inputs to reports supplied by other contributors
2.14 Timeframes for carrying out assessments
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Appendix 5: GE Estate Regeneration Guidance Summary
Application of Regeneration Guidance
This Appendix identifies Regeneration policies that are considered relevant, for the purposes of undertaking an appropriate viability assessment.
1.1 National Planning Guidance 2018 (NPG18) indicates that policy requirements should be informed by evidence of infrastructure and affordable housing need, and a proportionate assessment of viability that takes into account all relevant policies, and local and national standards, including the cost implications of the Community Infrastructure Levy (CIL) and Section 106. It has been agreed that proposed Scheme and proposals sufficiently meet draft London Plan (2018) policy H10 on a current day basis.
1.2 The purpose of a viability assessment as indicated in NPG18 is to ensure that policies are realistic and that the total cumulative cost of all relevant policies will not undermine deliverability. Therefore, Local Authorities or the GLA would be inconsistent with this directive if they were to impose any additional obligation upon a Developer which would potentially undermine the delivery of the Scheme. This is particularly important in the case of a Regeneration Scheme where the developer has gone to significant lengths to achieve a delivery Scheme assessed on long term basis.
1.3 In this instance the particular redevelopment of aging, mono-tenure, affordable housing estate is regarded to vary significantly to standard models for predominant private sale development and it is the opinion of the Applicant that they are meeting the various policies on a current day basis. Viability helps to strike a balance between the aspirations of developers and landowners, in terms of returns against risk, and the requirements of planning policy and guidance.
1.4 The risk profile of affordable housing estate regeneration is arguably different to that of a standard housing Scheme, due the complexities of existing tenants, quantum of affordable existing on site and the limitation in revenue generation as a result although this is somewhat offset by the general guarantee of tenant income over a long time frame.
1.5 Further Government Guidance relating to Estate Regeneration recognises that a key challenge in any regeneration project, but especially housing estate regeneration, is managing the competing demands that need to be balanced to promote and deliver a financially viable scheme. Government Guidance (Estate Regeneration National
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Strategy (2016) and Estate Regeneration National Strategy Good Practice Guidance 2016)) recognises Estate Regeneration is a long term process that often requires significant investment to support a wide range of activities. In many cases the risk profile of investment changes over time and can present challenges to ensure viable and sustainable delivery particularly when assessed on a current day basis. This is exactly the case in this instance and why the long term nature on potential recovery of investment is particularly important to the commitment of the developer. If this potential was eroded through increase planning obligations it may result in the Developer concluding it was unable implement the development on the knowledge it has little chance, if any of ever recovering its investment even over the long term.
1.6 Estate regeneration, given its complex nature, is a long-term undertaking. For the landowners and investors, the fact that it may take a number of years from first expenditure to the start of receipts, results in an investment profile that presents a number of material risks that can prove difficult to resolve. Planning, land assembly, re-housing of existing tenants and residents and the building of new homes for sale can combine to create an overall risk profile that can be difficult to finance and be viable in the initial instance, but this does not mean such a scheme is necessarily undeliverable.
1.7 Committing to spend money on the basis of returns linked to market conditions over such a period of time can make for a difficult commercial decision. The nature regeneration schemes makes comparison the standard development opportunities extremely difficult; or consideration and application of planning policy more widely associated; with shorter term, commercially orientated delivery projects. However, that does not also mean the commitment of a Developer to a regeneration project should be undermined or taken advantage of for policy gain simply because of their initial investment potentially could result in a deficit return.
1.8 Any investor in property is reasonably obliged to aspire to at least a breakeven position and seek profit return which reflects the usual considerations of deliverability; this is reflective of the capitalist society we live within. If this was not the case the NPPF would need to allow the consideration of viability in determining planning application.
1.9 In the case of a Registered Provider the acceptable return may run at or just above break even, compared to that of a commercial developer or contractor, but it is not reasonable for policy to indefinitely result in scheme viability deficit – such a policy would most certainly result in undermining delivery of development.
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1.10 The Applicant will explore the potential to enter into a joint venture agreement during later stages of the Scheme. In any regard, the Applicant is willing to incur significant proportion of the risk and initial deficit, in order to deliver an improved community. A position that Applicant is unwilling to do simply to maintain existing stock or lesser ambitious project; and should not be considered as similar a lost investment.
1.11 Another key element through which viability is being enhanced in the Scheme, which is not unusual, is through the promotion of a mix of tenures on the estate. The inclusion of private sale units within the Scheme helps enable affordable housing to be retained as well as the Scheme contributing to meeting local authority overall housing targets and creating balanced and mixed communities. The Applicant is looking to progress the development narrowing the financial gaps.
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Appendix 6: DCLG Estate Regeneration Guidance Summary
Estate Regeneration National Strategy Executive Summary
December 2016 Department for Communities and Local Government Executive Summary
1. Estate regeneration can transform neighbourhoods by 5. Through a combination of practical advice and guidance, delivering well designed housing and public space, a the national strategy addresses the common elements better quality of life and new opportunities for residents. and challenges that most schemes will need to consider. It provides an opportunity both to improve housing for It is particularly aimed at the early stages of existing residents and to provide much needed new regeneration, as schemes move from aspiration and homes, particularly in urban areas, where estates have concept to developing tangible options and plans. been built at relatively low densities. We believe estate We know from our discussions that getting this right regeneration has the potential to deliver thousands of net is critical to the success of a scheme. additional homes over the next 10 to 15 years. 6. We recognise that there is already a considerable body 2. We recognise that estate regeneration can often be of good practice, published guides and reports. We have challenging. This national strategy aims to support sought to draw on and signpost these whilst providing local partners to improve and accelerate local estate guidance where we have identified gaps. Our intention regeneration to deliver more and better quality is to add to this resource as we continue to work housing, drive local growth and improve opportunities with schemes. for residents. 7. The national strategy has been developed with the 3. We have seen some excellent examples of regeneration Estate Regeneration Advisory Panel, co-chaired by schemes in all parts of the country. Whether finished, Lord Heseltine and the Housing and Planning Minister. in delivery, just getting going or still an idea, it is clear A list of panel members is here. It has also been that no two schemes are the same and different places informed by our discussions with over 100 areas, from face different challenges. A ‘one size fits all’ national all parts of the country that came forward to work with approach is not appropriate. But we think there are us. We will continue to work with these areas to help three key principles that underpin successful estate them progress their plans. regeneration: 8. We are grateful to everyone who has given us their time, a. Community engaged as partners hosted visits and shared their experiences and expertise. b. Support and leadership of the local authority Their input has been invaluable in ensuring the national strategy is grounded in what works in practice. c. Willingness to work with the private sector to access commercial skills and lever in investment.
4. We have seen many estates in need of regeneration, characterised by poor quality housing, unattractive buildings in physical decline, and large areas of underutilised and degraded open space. They are often inward looking and physically, socially and economically disconnected from their surroundings, leading to higher concentrations of social deprivation and lack of opportunities for communities living there. Estate Regeneration National Strategy 3 Executive Summary
9. The national strategy comprises: 10. Government recognises that without some public investment early on, many schemes will not get off the a. Resident engagement and protection: sets out ground. The estate regeneration funding prospectus Government expectations for ensuring that residents enables areas to bid for a share of £140m of loan are at the centre of re-shaping their estates, in funding, £30m of enabling grant, and £2m of capacity partnership with authorities and developers, and are building funding. This financial support from government protected during the lifetime of an estate regeneration is directly targeted at de-risking the early stages of scheme. regeneration schemes and providing support to areas b. Role of the local authority: sets out the importance for such activities as community engagement, feasibility of wider place making, strategic use of public sector studies, scoping of proposals and masterplanning. land, design and effective use of the planning system. There is also support available for preconstruction c. Financing and delivering estate regeneration: activities such demolition and moving residents. provides options for building a sound financial base, More information is in the Funding Prospectus. including setting out the key challenges, advice on 11. Alongside this, where appropriate, estate regeneration particular aspects and de-mystifying the processes schemes can make use of other government measures and terminology. designed to boost delivery of new homes, particularly in d. Good practice guide: steers schemes through all areas of high need. These include the £7 billion that the the key stages, from developing the initial idea government has made available to support delivery of through to build out and delivery; includes checklists new affordable homes, including Shared Ownership, on process design and quality to ensure important Rent to Buy and Affordable Rent and the £2.3 billion of issues or stages are not overlooked; provides a housing infrastructure funding. Schemes can also benefit framework for overall sequencing. from the government’s commitment to release land from e. Better social outcomes: reports on Government’s the government estate and to work with local authorities work with four estates on mapping public spend in to release their land, offering the potential to cross- estates, in the broader context of looking at how subsidise development at a local level. Local authorities estate regeneration schemes can be part of a place will also be able to make use of changes to planning based approach to tackling poor life chances. policy and benefit from the Housing Zones programme. f. Alternative approaches: provides advice on community-led housing development as an effective means of putting the community at the heart of housing delivery. g. Case studies: illustrate and highlight particularly positive elements from a range of schemes, including design and quality, community engagement and strategic and innovative financing.
Appendix 7: Estate Regeneration National Strategy – Good Practice Guidance 2016
Estate Regeneration National Strategy Good Practice Guide - Part 1
December 2016 Department for Communities and Local Government Introduction
The estate regeneration good practice guide sets out key considerations for schemes at the early stages and a model process for successful regeneration.
This guide is for all stakeholders in estate regeneration schemes – landowners, residents, local authority officers and members, consultants, developers, public service providers, businesses and charities. It should be read in conjunction with the other components of the estate regeneration national strategy, including guidance on resident engagement and protection, finance and delivery.
The guide sets out the principal activities, considerations, key participants and source material for typical regeneration projects at the preparation, planning or delivery stages of projects. This guidance does not intend to set out a list of mandatory requirements for estate regeneration schemes. It is intended as a general good practice guide for all stakeholders to consider in relation to the characteristics and challenges of each individual scheme.
Two additional documents complete the good practice guide: 1) an activity map, that sets out the path of a model estate regeneration scheme; and 2) a design and quality checklist that provides additional considerations related to the design and masterplanning of schemes.
© Crown copyright, 2016 If you have any enquiries regarding this document /publication, complete the form at: Copyright in the typographical arrangement http://forms.communities.gov.uk/ rests with the Crown. or write to us at: You may re-use this information (not including logos) Department for Communities and Local Government free of charge in any format or medium, under the Fry Building terms of the Open Government Licence. 2 Marsham Street To view this licence visit: London www.nationalarchives.gov.uk/doc/open-government-licence/version/3/ SW1P 4DF or write to the Information Policy Team, The National Telephone: 030 3444 0000 Archives, Kew, London TW9 4DU, or email: For all our latest news and updates follow us on [email protected] Twitter: www.twitter.com/CommunitiesUK This document/publication is also available on our December 2016 website at: www.gov.uk/dclg ISBN: 978-1-4098-4948-3 Estate Regeneration National Strategy 3 Good Practice Guide - Part 1
Introduction Contents
GOOD PRACTICE GUIDE - PART 1 11. Gaining resident support 15 Do residents support the selected option and 1. Setting out the objectives 4 has opinion been tested? Have the aims and objectives for regeneration been clearly set out? 12. Gaining landowner approval 16 Has landowner approval to proceed been formalised? 2. Ensuring landowner commitment 5 Are the landowners committed and the appropriate 13. Agreeing approach to planning policy and process 17 resources in place? Is there a clear approach to embedding the project in local planning policy and navigating the statutory 3. Ensuring resident engagement 6 planning process? Have residents been empowered to participate at all stages? 14. Developing a plan 18 Has a masterplan, design code or delivery plan 4. Defining the brief 8 set out a vision for regeneration? Are the objectives and vision clearly set out by the landowner in a brief for change? 15. Meeting the needs of all 19 Will the regeneration result in balanced, inclusive 5. Testing viability 9 neighbourhoods that meet diverse local housing needs? Has an indicative financial appraisal been carried out for a deliverable option? 16. Improving retained buildings 20 6. Assembling a skilled professional team 10 Is there a clear strategy for the retention and refurbishment of existing buildings? Has a team with the appropriate strategic and technical skills been assembled? 17. Implementing the plan 21 7. Assessing the estate 11 Is there a robust and flexible strategy to implement the masterplan? Has the estate been fully appraised?
18. Ensuring appropriate finance and delivery structure 22 8. Assessing the wider area 12 Is the delivery structure, supported by the required Have the immediate surroundings and the financial capacity and viability strategy and process wider area of the estate been fully analysed? for land assembly in place?
9. Evaluating the options 13 19. Offering community benefits during construction 23 Has a comparative study been carried out and Does the procurement strategy consider clear consulted on to ensure the best long-term solution benefits to existing residents? is chosen?
20. Planning for management 24 10. Financially appraising preferred option 14 Has the future management of the development Has the preferred option been financially appraised, been fully considered? funding streams identified and the preferred delivery vehicle agreed? 1. Setting out the objectives
Have the aims and objectives for regeneration been clearly set out?
Successful regeneration projects are supported by clearly stated objectives based on a full appreciation of the physical, social and economic issues of the estate and wider area. The principal reasons, main aims and objectives for estate regeneration should be set out at the start of the process.
Key Issues Key Considerations Key Participants Sources
• Purpose • Setting out the evidence on the need • Landowner Altered Estates – HTA, for change and why the project is being LBA, PTE, PRP Guide to • Objectives • Local authority proposed. This may be to improve the estate regeneration • Narrative quality and quantity of housing stock and • Residents Risk assessment contribute to improving the life chances of • Location specific • Community groups/ existing residents. Include the public-spend Public spend analysis guide factors implication costs of doing nothing. community anchors Wellbeing assessment – • Wider area • Client advisers • Understanding key issues that impact on Warwick/Edinburgh mental considerations local residents. wellbeing scale • Understand public • Establishing the red line boundary of the Asset based community spend on the estate estate and related land. development – guide to taking an asset based • Understand resident • Initial assumptions regarding type of approach to community wellbeing and regeneration, whether refurbishment, infill, engagement aspiration part or full redevelopment. • Understanding where neighbourhood and/ or other plans have been created and the impact of those on regeneration options. • An understanding of how the project relates to other social and economic objectives, regeneration initiatives and development programmes in the wider context. • Publishing agreed objectives so they can be referred to and help decision making throughout the project. Estate Regeneration National Strategy 5 Good Practice Guide - Part 1
2. Ensuring landowner commitment
Are the landowners committed and the appropriate resources in place?
For successful regeneration, it is critical that at every stage of the project there is executive-level support for and engagement in the aims and objectives of the project. Deployment of the necessary resources from local authority, strategic landowners and stakeholders will be required.
Key Issues Key Considerations Key Participants Sources
• Local authority • Producing a strategy to ensure local • Councillors National Housing engagement authority cross-party political support and a Federation • Ward Councillor commitment to effective consultation. • Landowner Chartered Institute of • Housing officers engagement • Assembling an internal team with adequate Housing and appropriate skills, authority, processes • Planning officers • Project ‘champion’ Local Government and leadership in place. • Other departments Association • Inter-departmental • Identifying a project champion at political collaboration Guidance on CPO, DCLG, and executive officer level to drive the 2015 project forward. • Enabling close collaboration between departments including Planning and Housing and if appropriate Transport, Education, Social Services and other local public or voluntary sector agencies. • Understanding of the relationships, roles and remits of other agencies to ensure investment decisions are aligned with regeneration objectives. • Identifying the need and appropriate route for compulsory purchase orders (CPO). Mapping the six key stages of a CPO. • Securing formal support at committee level from the local authority. 3. Ensuring resident engagement
Have residents been empowered to participate at all stages?
Successful estate regeneration projects involve communities effectively and meaningfully in the assessment, options, design and master`planning process from inception to completion.
Key Issues Key Considerations Key Participants Sources
• Empower effective • Having an honest and open engagement • Community Consultation for scheme engagement with residents from the outset. approval (statutory) • Residents • Joined up engagement • Selecting the most appropriate consultation Gov code of practice on • Leaseholders from scheme partners engagement or co-design method so that consultation – 2008 all parts of the community have effectively • Freeholders • Choose resident Unleashing the potential participated in the design process. engagement process • Commercial tenants of residents, JRF, 1995 • Dedicating appropriate amount of time and – a guide to taking an • Ensure resident resource to resident engagement, including • Landowner asset based approach to commitment identifying community leaders empowering • Consultation adviser community engagement • Consider resident and training residents to participate in the Community Engagement training process effectively. • Masterplanner Methodology eg • Create a Resident • Appraising all aspects of the existing estate Planning for Real – Charter with residents including inside the home, the block, the a community based neighbourhood, the external environment engagement tool • Consult on options and landscape as well as connectivity to • Visit similar the wider community. BREEAM Communities – a framework to help regeneration projects • Ensuring residents understand the range improve, measure and of options for redevelopment, infill or certify the sustainability of refurbishment including the ‘do nothing’ large-scale development option. plans • Defining strategies that maintain BIMBY Housing Toolkit – community commitment and momentum a design engagement tool when faced with delays and uncertainty. LEED for Neighbourhood • Recording the consultation processes to Development demonstrate clear evidence of engagement with all community interest groups. Co-design techniques • Setting out a clear vision for the physical, Neighbourhood Planning social and economic potential of the estate Guidance – National informed by issues articulated by residents planning policy framework to establish community buy-in and support. guide to Neighbourhood planning • Making a clear and deliverable commitment to existing residents set out Community led Design and in a formal document. This could take the Development – Design form of a Residents’ Charter, designed Council Cabe with residents and setting out the offer for tenants, leaseholders and freeholders and Collaborative Planning opportunities for resident management of - Participation not the estate post-regeneration. Consultation – Princes Foundation • Engaging with residents, businesses and other stakeholders, including special interest groups beyond the red line boundary for their input in the proposals. Estate Regeneration National Strategy 7 Good Practice Guide - Part 1
3. Ensuring resident engagement (continued)
Key Issues Key Considerations Key Participants Sources
• Ensuring all members of the community, Estate Regeneration - 6 including minority or hard to reach groups, Steps to Success have been involved in the process and that Collaborative Planning information is accessible and available for all. – Participation not • Options for a co-design approach and Consultation use of codes so residents set design Asset based community parameters for a range of developers. development – guide to • Co-design, charrettes and visual taking an asset based preference surveys to determine approach to community community character preferences. engagement • Appreciating that the views of a minority Creating strong must be balanced with the views of communities: Berkeley the majority and take account of the Group - a guide to future community as well as the existing measuring the impact of community. housing developments from a community perspective • All information which residents need to assess options for estate regeneration and Resident commitments eg propose alternatives in an informed way Neighbourhood Charter should be made publicly available. Residents Charter 4. Defining the brief
Are the objectives and vision clearly set out by the landowner in a brief for change?
A clear brief will be required that sets out project vision, objectives and requirements, supported by a programme and a process.
Key Issues Key Considerations Key Participants Sources
• A vision for change • Setting a clear vision for change and broad • Landowner Creating Successful regeneration objectives. Masterplans – • Initial project • Residents a guide for clients – requirements • Principles of commitment to existing • Core team Design Council Cabe residents including re-housing and • Design and addressing local housing need. “Landscape architecture – performance standards A Guide for Clients” • Client requirements and standards to be met. • Re-housing requirements • Aspirations to address housing needs of existing residents and future community. • Wider regeneration objectives • Addressing specific issues in terms of quality (eg quality of housing stock, fuel • A clear process and poverty) and quantity (eg tenure diversity, programme for change housing supply) • A clear process and programme for regeneration and timescales for delivery. Estate Regeneration National Strategy 9 Good Practice Guide - Part 1
5. Testing viability
Has an indicative financial appraisal been carried out for a deliverable option?
An indicative viability appraisal based on an initial feasibility is necessary to determine whether regeneration is deliverable prior to an in-depth study.
Key Issues Key Considerations Key Participants Sources
• Indicative appraisal • Whether the preferred option for the vision • Property Joint Ventures – of the project is financially viable. A guidance note for public • Establishing a viable • Finance sector bodies forming joint option • Further land that might enhance financial • Consultation adviser ventures with the private deliverability. • Confirming the sector, HM Treasury, March • Legal preferred delivery • Assessing the property cost-estimate for 2010 method assembling the freehold and leasehold • Procurement The Green Book, HM interests. Treasury, July 2011 • A robust approach to project delivery. Financial viability in • If the landowner lacks capacity to meet planning, Guidance Note these costs, a partner may be required to 1st edition (GN 94/2012), support delivery. This is likely to require a RICS formal procurement exercise. • Delivery options have been set out with pros and cons against each, for discussion 6. Assembling a skilled professional team
Has a team with the appropriate strategic and technical skills been assembled?
Estate regeneration requires a wide range of expertise, and benefits from professionals with experience of similar projects.
Key Issues Key Considerations Key Participants Sources
• Core expert advisers • The full range of skills that will be needed Client advisers: Professional Institutes appointed by over the course of the project by the • Masterplanner Design advisory bodies landowner landowner and the delivery team. • Property Approved lists of • Appropriate track • How time can be allocated to make the professional advisers record and experience right choice of adviser/team before work • Finance of resident led estate commences on that aspect of the project. • Consultation adviser regeneration • How to ensure the team’s objectives • Procurement • Consultation expertise are shared and align with regeneration objectives. • Appropriate technical Delivery team: support for delivery • Effective financial and property, design team development and community engagement • Development skills, appropriate to the project. management • A strategy for continuity of design • Technical support leadership and supervision throughout the eg engineering, lifetime of the project. landscape, surveyor • The procurement strategy to obtain these • Sustainability skills. • Funding • Funding to meet the professionals’ fees. • Legal adviser • CDM adviser Estate Regeneration National Strategy 11 Good Practice Guide - Part 1
7. Assessing the estate
Has the estate been fully appraised?
Time spent undertaking a thorough evaluation of the configuration, physical arrangement, landscape, character and social demographic of the estate will support better decision making and outcomes.
Key Issues Key Considerations Key Participants Sources
• External environment • Mapping existing constraints including • Community Place assessment tools eg easements and other legal, land ownership • Existing housing • Landowner Place Check – Urban and services. Design Skills • Social and community • Local authority • Existing infrastructure that may constrain infrastructure Walking audits – or offer opportunities in the design. • Multiple agencies assessment of walkability • Commercial uses • Referencing land ownership including • Masterplanner or access of an external • Ownership and tenure freeholders, leaseholders, rights of way environment and easements. • Technical team • Historical background Place Alliance – a • Whether a condition survey of the existing movement for place quality • Cultural background stock and capital investment plan has been UDG - Urban Design Group • Social infrastructure prepared to justify future decisions. Wellbeing assessment – • Conducting research into the history of Warwick/Edinburgh mental the site to establish whether there are any wellbeing scale characteristics that could influence the design. Public spend analysis guide • Mapping existing open space, amenities, Section 149 Equality Act schools, health, community and 2010 commercial uses on the estate. • Assessing education, community, training and employment needs of the existing community. • Understanding existing housing need including under and over-occupation. • Assessing the health and wellbeing of residents and mapping their needs. • Identifying community infrastructure in terms of community groups, local organisations and interest groups. • Appraising usability and provision of open space, play and fitness amenities and ease of access to the wider landscape. • Early agreement on approach to use of CPO and whether the local authority has a clear policy and necessary resources in place. 8. Assessing the wider area
Have the immediate surroundings and the wider area of the estate been fully analysed?
A full understanding of the wider context will help inform the project objectives and strategic approach, leading to long-term enduring solutions for the regeneration of estates.
Key Issues Key Considerations Key Participants Sources
• Transport and • Assessing existing social, community • Community As Section 7. connectivity and commercial uses, access to • Landowner Local Strategic employment, local amenities and • Parks and gardens Regeneration Frameworks neighbouring housing stock. • Local authority • Access to facilities and Local Development • Whether there are costed and funded • Multiple agencies employment Frameworks proposals for new or upgraded transport, • Masterplanner • Schools, Nurseries education, healthcare and community Neighbourhood facilities. • Technical team Development Plans • Health and Social Services • If there are other regeneration and investment programmes in the vicinity of • Other regeneration the site. initiatives • Whether there is additional land adjoining • Availability of adjoining or in the vicinity of the estate that could land support regeneration objectives. • The social infrastructure beyond the estate, such as residents’ groups, special interest groups and other relevant bodies. Estate Regeneration National Strategy 13 Good Practice Guide - Part 1
9. Evaluating the options
Has a comparative study been carried out and consulted on to ensure the best long- term solution is chosen?
An appraisal to determine viability and deliverability of regeneration including physical, social, economic and environmental factors, is vital to determine the optimum long-term solution. This helps to reduce risk to delivery.
Key Issues Key Considerations Key Participants Sources
• High level appraisal • Generating a range of options including • Masterplanner Altered Estates – HTA, a ‘do nothing’ option and assessing costs LBA, PTE, PRP • Surveys and data • Technical team and benefits, taking into account social • Feasibility study and environmental impacts, and taking • Local authority into account the physical condition of the • Financial appraisal existing stock, housing need and local • Residents • Quantifiable and market conditions. • Market testing, non quantifiable • Selecting the most advantageous option in assessment of benefits terms of financial and quantitative issues. • Viability assessed • Justifying the need for a CPO. • Environmental issues that might add weight to arguments for demolition or retention of existing buildings. • Cost of existing public sector services being expended and assessment of potential savings and how cost benefits can be measured. • An option should be chosen with support from all stakeholders ensuring that the implications are understood by all including costs, impact on long-term management and maintenance cost and service charges. 10. Financially appraising preferred option
Has the preferred option been financially appraised, funding streams identified and the preferred delivery vehicle agreed?
Understanding the financial implications of a range of options is necessary to validate a chosen approach as the most financially advantageous. The business plan will be developed as the masterplan evolves to achieve a deliverable development and to inform the resident offer. The preferred model for delivery will be influenced by the business plan.
Key Issues Key Considerations Key Participants Sources
• Financial appraisal • Understanding the implications of a ‘do • Delivery partners Joint Ventures – nothing’ option. A guidance note for public • Business planning • Property sector bodies forming joint • Sensitivity tests of density and tenure • Viability • Finance ventures with the private options. sector, HM Treasury, March • Funding • Legal • Identifying finance and funding to enable 2010 the preferred option to be delivered. • Equity • Procurement The Green Book, HM • Delivery model • Identifying need for grant or other financial • Potential partners Treasury, July 2011 support if necessary for viability. • Soft market testing • Confirming internal financial capacity, need for borrowing or partnership delivery. • Market test the preferred option with prospective partners for deliverability and robustness. • Testing all options for scheme content and capacity for third party land. • Explore all possibilities to introduce private investment. • Explore options for early partnerships between the public and private sectors. • Pursue all options for government support in terms of grant, loan funding and guarantees. • Ensure that the landowner is satisfied that Best Consideration will be obtained. Estate Regeneration National Strategy 15 Good Practice Guide - Part 1
11. Gaining resident support
Do residents support the selected option and has opinion been tested?
Residents must have decision making powers over the final options, whether as individuals or via a democratic process using representatives.
Key Issues Key Considerations Key Participants Sources
• Resident support • Using a recognised method for testing • Masterplanner Gov code of practice on resident opinion to move forward with consultation – 2008 • Test of opinion • Technical team regeneration proposals, whether a ballot, Collaborative Planning • Resident status referendum or other approach appropriate • Local authority - Participation not for the circumstances. • Residents Consultation – Princes • The status of residents (eg secure tenant, Foundation lease-holder, private landlord) and the variation in the impact on these different groups should also be reflected in how the process is managed. • Ensuring the wishes of residents are understood and respected. 12. Gaining landowner approval
Has landowner approval to proceed been formalised?
The landowner’s board or committee will need to be provided with a detailed report for approval at key stages of the project. This will then lead to a decision to proceed.
Key Issues Key Considerations Key Participants Sources
• Political support • Formal approval to proceed documented • Landowner and recorded. • On-going support • Committee members • Reports that might include: • Formal approvals • Political leaders ◦◦ The case for change ◦◦ The preferred option ◦◦ Resident support for the preferred option ◦◦ Viability ◦◦ Funding and Delivery options ◦◦ Next steps • Agreeing a strategy for ongoing local authority political support over the cycle of the project. Estate Regeneration National Strategy 17 Good Practice Guide - Part 1
13. Agreeing approach to planning policy and process
Is there a clear approach to embedding the project in local planning policy and navigating the statutory planning process?
The landowner and local planning authority should agree the appropriate planning process for setting new or complying with existing local plan objectives, and the necessary steps for obtaining a planning consent.
Key Issues Key Considerations Key Participants Sources
• Local and national • An appropriate Development Plan • Local planning Planning tools eg; planning policy Document, Supplementary Planning authority NPPF & NPPG Document, Local Development Order, • Plan making • Planning Policy team Neighbourhood Development Order Supplementary Planning • Approach to obtaining or other planning policy tool, and the • Planning Development Documents (SPD) planning consent implications they may have on programme. Management team Development Planning • Statutory planning • A Neighbourhood Planning approach if • Planning consultant Documents (DPD) application process agreed by residents, landowners and with the agreement of the LPA. • Masterplanner Local Development Orders • Process tools, PPA’s (LDO) • Benefits of using Planning Performance • Residents Neighbourhood Planning Agreements. • Neighbourhood Forum and Neighbourhood • The approach to planning applications, Forums whether hybrid applications including a masterplan and first phase detail Neighbourhood application. Development Orders • Use of masterplans supported by design Planning Performance codes and parameter plans to facilitate Agreements (PPA) multiple approaches including custom build and self build. • Approach to applications for future phases. • Ongoing engagement with local communities, planning committees and ward councillors to manage information and sustain momentum. 14. Developing a plan
Has a masterplan, design code or delivery plan set out a vision for regeneration?
A comprehensive and robust plan, supported by planning policy documents if appropriate, will set a clear vision for the project for all stakeholders.
Key Issues Key Considerations Key Participants Sources
• Vision • Wider regeneration objectives, including • Masterplanner Creating Successful use of available adjoining land. Masterplans – a guide for • Refurbishment and/or • Technical team clients – Design Council new build • The innate nature of the community and its • Residents Cabe interests. • Housing density • Private sector partner Building for Life 12 – • The landscape, including topography and • Social and community Evaluation tool for good other natural features. • Planning consultant infrastructure places to live and well • Which elements should be retained for • Political and officer designed homes • Commercial & mixed improvement, which should be demolished support use Placemaking and Value and opportunities for infill. • Multi agency input RICS – relationship • Retained homes • How the estate can be integrated into between ‘better’ places to its surroundings by eroding its ‘red line’ • Employers Agent live and value generated boundary and blending with existing streets. • CDM advisor Local authority • Whether an increase in density can be • Non residential supplementary planning achieved by better use of under-utilised technical team guidance and local Design land and can be accompanied by Guides improvements in physical infrastructure, Design Review – Principles transport, open space, social and and Practice – Design community infrastructure. Councli Cabe • How can economic activity be boosted Landscape architecture with mixed uses, including commercial and – A Guide for Clients – employment. Landscape Institute • Local residential design guides, other approved planning policy documents and a design review process to deliver design quality. • How to phase development to ensure a deliverable first phase and built-in flexibility for future phases to adapt to changing circumstances. • New facilities required to deliver improvements to public services. • Involving residents in drawing up the masterplan, and urban or design codes prior to, during and after procurement of a partner. Estate Regeneration National Strategy 19 Good Practice Guide - Part 1
15. Meeting the needs of all
Will the regeneration result in balanced, inclusive neighbourhoods that meet diverse local housing needs?
A clear housing assessment will establish the level of local housing need for existing and new residents and what tenures are needed to create inclusive, balanced communities.
Key Issues Key Considerations Key Participants Sources
• Meeting local housing • The housing needs of existing residents • Local authority Estate specific rehousing need and options for re-provision. requirements • Potential partners and • Replacement • The balance of tenures and housing housing market Local Plan SHMA - Local housing for renters, typologies needed to reflect housing needs Housing Need leaseholders and of the wider local area which may be set Section 149 Equality Act freeholders out in the local plan. 2010 • Additional market, • How the mix of new housing should reflect Health & Wellbeing Report intermediate or changing demographics of the area including in Homes – UKGBC affordable housing housing for older people, family housing and accommodation for younger people. • Other typologies and tenures eg, students, • Addressing the specific needs of people housing for older with disabilities and an ageing population people through inclusive design. • Market renting • The extent to which different tenures, social renting and , including market rent, low-cost home intermediate tenures ownership and intermediate models, should be provided and at what scale and • Tenure integration pace to meet local need. • Mixed uses • A tenure-blind approach and how tenures are integrated. • The impact of an increase in homes and range of housing on social infrastructure such as education and health facilities. 16. Improving retained buildings
Is there a clear strategy for the retention and refurbishment of existing buildings?
Re-use of existing buildings can offer an environmentally sustainable alternative to full demolition and new build. Where the preferred option involves the retention of some or all existing buildings, it is necessary to deliver high quality improvements and enhanced technical performance that address their design and technical shortcomings.
Key Issues Key Considerations Key Participants Sources
• Retained and improved • How retained buildings can accommodate • Masterplanner Creating Successful appropriate housing types that Masterplans – a guide for • Appropriate tenure and • Technical team meet local housing need and how clients – Design Council typologies internal arrangements can be adapted • Residents Cabe • Environmental to achieve this. • Private sector partner Building for Life 12 – improvements • How energy performance of retained Evaluation tool for good • Planning consultant • Public/ semi-public buildings can be improved. places to live and well realm designed homes • Whether there is a need to transform • Political and officer support • Landscape the appearance and identity of existing Placemaking and Value buildings. • Multi agency input RICS – relationship • Safety and security between ‘better’ places to • What improvements to streets, open • Employers Agent live and value generated • Image and identity spaces, private amenity, landscape and public realm may be needed to ensure • CDM advisor Local authority retained and refurbished buildings have • Non residential supplementary planning equivalent amenities to new buildings. technical team guidance and local Design Guides • Involving residents throughout the development of refurbishment plans Design Review – Principles including proposals for re-housing and and Practice – Design phased improvements. Council Cabe Estate Regeneration National Strategy 21 Good Practice Guide - Part 1
17. Implementing the plan
Is there a robust and flexible strategy to implement the masterplan?
Effective regeneration proposals consider how the project will be delivered. The delivery plan will consider construction phasing that recognises the needs of and minimises disruption to existing residents.
Key Issues Key Considerations Key Participants Sources
• Site assembly • Approach to CPO and land assembly • Local authority Section 149 of the Equality including use of statutory powers and Act 2010 • Meanwhile works • Masterplanner negotiation with all who have ownership Guide to CPO, DLCG 2015 • Re-housing strategy interests on the estate. • Technical team • Phasing • Approach to rehousing existing residents, • Residents their choices and the impact on the • Flexible masterplan masterplan. • Developer/contractor and phasing • What will be the minimum disruption for existing residents who choose to remain that is reasonably able to be delivered. • How immediate improvements that might be temporary can be used to improve the quality of life of existing residents during construction phases. • How social, community, transport and green infrastructure is delivered, by whom and how this is funded. • Ensuring that the masterplan and phasing strategy is flexible, robust and adaptable to economic, social, physical and environmental change over time. • Ensuring that each phase is self sufficient with a proportion of amenity and landscape provision provided during each phase of works to maintain quality of life for residents. 18. Ensuring appropriate finance and delivery structure
Is the delivery structure, supported by the required financial capacity and viability strategy and process for land assembly in place?
The start of a regeneration project must be done with a clear understanding of how it will be completed.
Key Issues Key Considerations Key Participants Sources
• Phased delivery plan • A phased delivery plan, and detailed risk • Local authority Compulsory Purchase and and mitigation register. Compensation, DCLG, • Phase 1 proposal • Masterplanner October 2004 • A detailed plan for the first phase. • Sensitivity analysis • Technical team • Sensitivity analyses of potential cost and • Partners • Residents value changes over time. • Land Assembly • Developer/contractor • Robust delivery contracts with suitably • CPO capable and robust partners. • Clear resident communication channels. • Whether the local authority has a robust statement on CPO and is willing to exercise the policy. • Whether meaningful attempts at negotiation have been pursued or at least genuinely attempted, save for land where land ownership is unknown or in question. • Carry out the CPO been prepared in conformity with the Compulsory Purchase of Land (Prescribed Forms) (Ministers) Regulations 2004. Estate Regeneration National Strategy 23 Good Practice Guide - Part 1
19. Offering community benefits during construction
Does the procurement strategy consider clear benefits to existing residents?
Estate regeneration offers opportunities for continued involvement of residents during the construction phase, such as customising their homes and benefiting from employment and training programmes.
Key Issues Key Considerations Key Participants Sources
• Employment and • Providing opportunities for residents to • Developer/contractor Local Planning Authority training engage during the construction process, Conditions • Local authority for example, choosing finishes and fittings • Resident benefits for their new homes, and providing custom • Residents • Health and safety build and self build programmes. • Separating • Ensuring local residents and businesses construction and benefit from construction activity through resident access employment and training programmes and contracts with local contractors and suppliers. • Engagement with local schools and colleges for outreach to young people. • Addressing the needs of older residents early in the development programme. • Health and safety of existing residents during the construction programme through clear separation of residents and construction activity phase by phase. • Effective management and maintenance of existing properties during phases of construction activity. 20. Planning for management
Has the future management of the development been fully considered?
The future management of the development and the vehicle for delivery should be considered at the outset and throughout the masterplan, detail design and delivery stages. This should involve residents at appropriate stages.
Key Issues Key Considerations Key Participants Sources
• Review management • How residents can be involved in future • Developer/contractor Superdensity the Sequel – structure with residents management arrangements. This will have HTA, LBA, PT, PRP • Local authority been discussed during the development of • Define resident HAPPI 3 – approaches to the Residents’ charter. • Management company involvement in management in housing for management • The impact of built form, configuration, • Residents older people tenure mix, facilities, access arrangements, • Resident involvement Build to Rent: A Best concierge and other design matters and Practice Guide – Urban • Legal structure clear communication with existing residents Land Institute on the impact of regeneration on future • Neighbourhood service charges. management • The benefits of involving residents in future • Service charges management structures. • Waste • The necessary scope of the management • Parking/cycling plan including neighbourhood and building management for all tenures, allocations • Maintenance policy, sales and service charges. • Scope of the management plan including waste management, parking, maintenance of public realm and common spaces, the building fabric and M&E installations. • Using low maintenance durable materials, ensure ease of access for cleaning and other design approaches to minimise future management and maintenance. Estate Regeneration National Strategy 25 Good Practice Guide - Part 1
Appendix 8: Commentary on Mayoral Funding
GLA QUERY
Policy H8 of the Intend to Publish London Plan requires that applicants of Estate Regeneration schemes consider the availability of Mayoral funding. Viability submissions made by the applicant to date do not refer to the extent to which the applicant has explored grant funding made available by the Mayor.
RESPONSE
Policy H8 of the Intend to Publish London Plan 2019 identifies the need to consider the availability of Mayoral funding with a view to maximising the provision of affordable housing - alongside any conditions attached to that funding. The Council has considered the availability of Mayoral funding and does not feel it is required or suitable in this instance. The affordable housing mix proposed is considered optimum and viable in ensuring (i) that existing residents can return to the estate given that all existing affordable habitable rooms and floorspace is being reprovided; and (ii) that there is a further net uplift in affordable homes. In this respect, of the uplifted residential floorspace 55% is affordable. Of the total residential provision across the Masterplan as a whole, 56% is affordable. These provisions have been achieved without the need for Mayoral funding and are considered sufficient to facilitate the creation of a mixed and balanced community.
It is noted in this respect that Mayoral funding is dependant on the successful completion of a resident ballot as set out in The Mayor’s Good Practice Guide to Estate Regeneration. The Council do not wish to undertake a resident ballot, it believes one-off votes on regeneration projects are, by their nature, a snapshot in time and are no substitute for comprehensive opinion recording over a sustained period, which is the Council’s preference and indeed what has been occurring successfully at Ebury. Further and from a logistical perspective, submitting this Hybrid Outline Application in a timely manner is a requirement to facilitate the momentum of the ongoing resident decant.
Balloting now would therefore result in undue delays to application submission, alongside potentially frustrating residents who are widely keen for the estate’s renewal to commence; having already engaged in one such historical ballot; and since, a comprehensive consultation process. In this regard, the views on balloting expressed by the SoS in his letter to the Mayor on 13th March are also noted, where he considers them an “onerous condition” of estate regeneration schemes. Unfortunately, this means the Council are not an eligible Investment Partner for Mayoral Grants.
Background
Westminster Council was an early adopter of votes on housing renewal projects long before it became a part of the Mayoral Guide. This experience has led the Council to learn that ballots are not the answer. One off voting is simplistic and does not allow for full and proper responses to the fears, challenges and aspirations of residents and local businesses.
The Council has instead adopted the approach of continuous and meaningful engagement detailed in the Statement of Community Involvement and Estate Regeneration Statement documents submitted as part of this planning application.
This approach to canvassing opinion and engaging with resident and the wider community in the development of the scheme has been incredibly successful resulting in over 78% of the respondents to the most recent round of engagement coming out in support of the scheme with 67% of the neighbouring residents also expressing support for the design changes made in response to the concerns raised.
There has been full resident engagement throughout the Ebury project, overseen by a resident led-steering group, who have also scrutinised viability information. Also Ebury regeneration team based on the estate gives the residents daily access to raise concerns, access support and shape proposals.
Appendix 9: Accommodation Schedule
astudio
15/01/2020_Rev Za_rev1 rebalance notes: Hab rooms 1 2 3 4 5 6 changes in red Tenure: Tenure detailed split: no. of homes 1b1p 1b2p 2 bed 3 bed 4 bed 5 bed total Social Replacement (affordable) 97 15 46 30 6 97 Social Rent (affordable) 1 1 1 Intermediate Affordable Rent (affordable) 28 20 8 0 28 Phase 1 Intermediate Ownership (affordable) 16 4 9 3 16 Market Sale (Market) 84 29 37 18 84
Phase 1 totals: 226 0 68 100 51 6 1 226 total homes built in phase 1 phase 1 - mix by percentage 0.0% 30.1% 44.2% 22.6% 2.7% 0.4% Tenure: Tenure detailed split: 1b1p 1b2p 2 bed 3 bed 4 bed 5 bed total Social Replacement (affordable) 75 0 19 33 21 2 0 75 Social Rent (affordable) 14 0 0 6 5 1 2 14 Intermediate Affordable Rent (affordable) 40 0 10 30 0 40 Intermediate Ownership (affordable) 0 0 0 0 0 0 Phase 2a Market Rent (market) 0 0 0 0 0 0 Discount Market Rent (affordable) 2 0 0 0 2 2 Market Sale (Market) 120 9 60 41 10 120 0 0
Phase 2a total: 251 9 89 110 38 3 2 251 total homes built in phase 2a phase 2 & 3 - mix percentages 3.6% 35.5% 43.8% 15.1% 1.2% 0.8% Tenure: Tenure detailed split: 1b1p 1b2p 2 bed 3 bed 4 bed 5 bed total Social Replacement (affordable) 26 17 6 3 0 0 26 Social Rent (affordable) 26 0 0 19 6 1 26 Intermediate Affordable Rent (affordable) 18 5 13 0 18 Intermediate Ownership (affordable) 5 1 3 1 5 Phase 2b Market Rent (market) 178 46 82 50 0 178 Discount Market Rent (affordable) 16 0 0 6 10 16 Market Sale (market) 35 4 23 8 35 0 0
Phase 2b total: 304 46 109 101 41 6 1 304 total homes built in phase 2b phase 2a & 2b - mix percentages 18.3% 43.4% 40.2% 16.3% 2.4% 0.4%
Overall masterplan Totals 781 55 266 311 130 15 4 781 Total homes overall - both phases both phases combined Overall masterplan percentages 7.0% 34.1% 39.8% 16.6% 1.9% 0.5% DETAIL UNIT MIX - Rev Za Rev1 rebalance EBURY BRIDGE ESTATE
BUILDING 01 - PHASE 2a BUILDING 01 1B2P 1B2P 2B3P 2B3P 2B4P 2B4P 2B4P 3B5P 3B5P 4B7P D 5B8P D TOTAL UNITS Unit Area 51.5 51.1 61.4 63.9 74.2 76.1 76.5 91.3 99.5 122 130 Residential NIA m2 Hab room 7 1 1 2 155.2 7 6 1 2 3 216.9 9 5 1 1 1 1 2 1 7 507.5 21 4 1 1 1 1 2 1 7 507.5 21 3 1 1 1 1 2 1 7 507.5 21 2 1 1 1 1 2 1 7 507.5 21 1 1 1 1 1 1 5 354.5 15 G 1 1 2 252.0 5 3009 120 5 0 5 2 5 5 10 6 0 1 1 40 TOTAL B1 13% 0% 13% 5% 13% 13% 25% 15% 0% 3% 3% 100% Residential NIA m2 Hab room Social Replacement 4 6 3 1 14 1061 43 Social Rent 2 2 2 1 1 8 645 22 Intermediate Affordable Rent 2 2 2 6 423 18 Intermediate Ownership 0 0 0 Market Rent 0 0 0 Market Sale 1 1 2 1 1 4 2 12 880 37 discount market rent 0 TOTAL B1 5 0 5 2 5 5 10 6 0 1 1 40 3009 120
BUILDING 02 - PHASE 2b BUILDING 02 1B2P 1B2P 2B3P 2B3P 2B4P 2B4P 2B4P 3B5P 3B5P 4B7P D 5B8P D TOTAL UNITS Unit Area 51.5 51.1 61.4 63.9 74.2 76.1 76.5 91.3 99.5 122 130 Residential NIA m2 Hab room 7 2 2 4 3b4p on the 2b4p footprint 310.4 14 6 2 2 4 3b4p on the 2b4p footprint 310.4 14 5 1 2 2 2 7 535.3 22 4 1 2 2 2 7 535.3 22 3 1 2 2 2 7 535.3 22 2 1 2 2 2 7 535.3 22 1 1 2 2 5 382.5 16 G 2 2 244.0 10 3388.5 142 5 8 0 4 2 0 0 14 8 2 0 43 TOTAL B2 12% 19% 0% 9% 5% 0% 0% 33% 19% 5% 0% 100% Residential NIA m2 Hab room Social Replacement 5 8 2 2 17 997.3 40 Social Rent 8 2 10 1040.0 42 Intermediate Affordable Rent 0 0.0 0 Intermediate Ownership 0 0.0 0 Market Rent 0 0.0 0 Market Sale 4 0 4 8 620.8 28 discount market rent 8 8 TOTAL B2 5 8 0 4 2 0 0 14 8 2 0 43 2658.1 110 BUILDING 03 - PHASE 2b BUILDING 03 1B2P 1B2P 2B3P 2B3P 2B4P 2B4P 2B4P 3B5P 3B5P 4B7P D 5B8P D TOTAL UNITS Unit Area 51.5 51.1 61.4 63.9 74.2 76.1 76.5 91.3 99.5 122 130 Residential NIA m2 Hab room 7 2 2 4 280.8 12 6 2 2 4 280.8 12 5 1 2 2 2 7 535.5 22 4 1 2 2 2 7 535.5 22 3 1 2 2 2 7 535.5 22 2 1 2 2 2 7 535.3 22 1 1 2 2 5 382.5 16 G 2 2 244.0 10 3329.9 138 5 2 0 4 8 0 10 10 2 2 0 43 TOTAL B3 12% 5% 0% 9% 19% 0% 23% 23% 5% 5% 100% Residential NIA m2 Hab room Social Replacement 2 2 2 2 8 486.0 20 Social Rent 6 2 2 10 990.8 42 Intermediate Affordable Rent 1 4 2 7 501.3 20 Intermediate Ownership 0 0.0 0 Market Rent 0 0.0 0 Market Sale 2 2 4 6 4 18 1351.8 56 discount market rent 0 TOTAL B3 5 2 0 4 8 0 10 10 2 2 0 43 3329.9 138
BUILDING 04 - PHASE 2b BUILDING 04 1B2P 1B2P 2B3P 2B3P 2B4P 2B4P 2B4P 3B5P 3B5P 4B7P D 5B8P D TOTAL UNITS Unit Area 51.5 51.1 61.4 63.9 74.2 76.1 76.5 91.3 99.5 122 130 Residential NIA m2 Hab room 7 1 1 2 140.4 6 6 1 2 3 216.9 9 5 1 1 1 1 2 1 7 507.5 21 4 1 2 1 1 2 7 520.1 9 3 1 1 1 1 2 1 7 507.5 21 2 1 1 1 1 2 1 7 507.5 21 1 1 1 1 1 4 293.1 12 G 2 1 3 374.0 10 3067 109 5 2 3 2 4 5 9 5 2 2 1 40 TOTAL B4 13% 5% 8% 5% 10% 13% 23% 13% 5% 5% 3% 100% Residential NIA m2 Hab room Social Replacement 1 1 91 4 Social Rent 1 2 2 1 6 664 14 Intermediate Affordable Rent 2 2 1 1 2 3 11 620 25 Intermediate Ownership 1 1 1 1 1 5 370 15 Market Rent 0 0 0 Market Sale 2 2 2 3 9 583 25 discount market rent 2 2 2 2 8 TOTAL B4 5 2 3 2 4 5 9 5 2 2 1 40 2329 83
BUILDING 05 - PHASE 2a BUILDING 05 1B2P 1B2P 1B2P 1B2P 1B2P 1B2P 1B1P 2B3P 2B4P 2B4P 2B4P 3B5P 3B5P 3B5P 3B5P D 3B5P D 4B6P D 4B6P D 4B6P D 4B7P D 5B8P D TOTAL UNITS Unit Area 51 51.8 53.9 54.5 63.1 50 37 69.2 72.5 77.2 70 88.2 89.5 94.5 104.6 108.5 119.2 137.5 136.2 137.7 148.1 Unit type T 01.B T 01.C T 01.A T 01.D T 01.E T 02.C T 02.B T 02.A T 03.B T 03.C T 03.A T 03.E T 03.D T 04.B T 04.A T 04.D T 04.C T 05.A Residential NIA m2 Hab room 15 1 1 1 1 4 193.3 9 14 1 1 1 1 1 2 7 398.7 17 13 1 1 1 1 1 2 7 398.7 17 12 1 1 1 1 1 2 7 398.7 17 11 1 1 1 1 1 2 7 398.7 17 10 1 1 1 1 1 2 7 398.7 17 9 1 1 1 1 1 2 7 398.7 17 8 1 1 1 1 1 2 7 398.7 17 7 1 1 1 1 1 2 7 398.7 17 6 1 1 1 3 1 1 8 546.0 23 5 1 1 1 3 1 1 8 546.0 23 4 1 1 1 3 1 1 8 546.0 23 3 1 1 1 3 1 1 8 546.0 23 2 1 1 1 3 1 1 8 546.0 23 1 2 1 3 172.5 7 G 0 0.0 0 B 0 6285.4 267 13 9 5 9 0 16 9 0 1 31 5 0 5 0 0 0 0 0 0 0 0 103 TOTAL B5 Residential NIA m2 Hab room Social Replacement 3 3 5 3 2 1 17 1025.8 43 Social Rent 2 2 179.0 8 Intermediate Affordable Rent 2 2 2 1 12 3 22 1518.7 63 Intermediate Ownership 0 0.0 0 Market Rent 0 0.0 0 Market Sale 8 9 9 9 9 16 0 60 3382.9 145 discount market rent 2 2 TOTAL B5 13 9 5 9 0 16 9 0 1 31 5 0 5 0 0 0 0 0 0 0 0 103 6106.4 259 BUILDING 06 - PHASE 2a BUILDING 06 1B2P 1B2P 1B2P 1B2P 1B2P 1B1P 2B3P 2B4P 2B4P 2B4P 3B5P 3B5P 3B5P D 3B5P D 3B5P 4B6P D 4B6P D 4B6P D 4B7P D 5B8P D TOTAL UNITS Unit Area 51 51.8 53.9 54.5 50 37 69.2 72.5 77.2 70 89.5 94.5 104.6 108.5 96 119.2 137.5 136.2 137.7 148.1 Unit type T 01.B T 01.C T 01.A T 01.D T 02.C T 02.B T 02.A T 03.C T 03.A T 03.E T 03.D T 04.B T 04.A T 04.D T 04.C T 05.A Residential NIA m2 Hab room 18 17 1 1 1 2 1 6 406 16 16 1 1 1 2 1 6 406 16 15 1 1 1 2 1 6 406 16 14 1 1 1 2 1 6 406 16 13 1 1 1 2 1 6 406 16 12 1 1 1 2 1 6 406 16 11 1 1 1 2 1 6 406 16 10 1 1 1 2 1 6 406 16 9 1 3 1 1 1 7 543 22 8 1 3 1 1 1 7 543.1 22 7 1 3 1 1 1 7 543.1 22 6 1 3 1 1 1 7 543.1 22 5 1 3 1 1 1 7 543.1 22 4 1 3 1 1 1 7 543.1 22 3 1 3 1 1 1 7 543.1 22 2 1 1 1 1 4 337.7 14 1 1 1 1 1 4 421.9 17 G 1 1 1 3 338.3 13 B 8149 326 15 8 0 8 1 0 0 0 38 8 0 16 2 0 9 1 0 0 1 1 108 TOTAL B6 14% 7% 0% 7% 1% 0% 35% 7% 15% 2% 0% 8% 1% 1% 99% Residential NIA m2 Hab room Social Replacement 3 1 22 8 9 1 44 3641 147 Social Rent 2 1 1 4 495 19 Intermediate Affordable Rent 4 8 12 764 32 Intermediate Ownership 0 0 0 Market Rent 0 0 0 Market Sale 8 8 8 16 8 48 3250 128 discount market rent 0 TOTAL B6 15 8 0 8 1 0 0 0 38 8 0 16 2 0 9 1 0 0 1 1 108 8149 326
BUILDING 07 - PHASE 1 BUILDING 07 1B2P 1B2P 1B2P 1B2P 1B2P 2B4P 2B4P 2B3P 3B5P 3B5P 3B5P 3B5P D 3B5P D 4B6P D 4B6P D 4B6P D 4B7P D 5B8P D TOTAL Unit Area 53.9 51 51.8 54.5 63.1 77.2 72.5 69.6 94.5 88.2 89.5 108.5 104.6 137.7 137.5 119.2 136.2 148.1 Unit type T 01.A T 01.B T 01.C T 01.D T 01.E T 02.A T 02.B T 02.C T 03.A T 03.B T 03.C T 03.D T 03.E T 04.A T 04.B T 04.C T 04.D T 05.A Residential NIA m2 Hab room 17 16 1 1 1 2 1 6 406 16 15 1 1 1 2 1 6 406 16 14 1 1 1 2 1 6 406 16 13 1 1 1 2 1 6 406 16 12 1 1 1 2 1 6 406 16 11 1 1 3 1 1 1 8 592 24 10 1 1 3 1 1 1 8 592 24 9 1 1 3 1 1 1 8 592 24 8 1 1 3 1 1 1 8 592 24 7 1 1 3 1 1 1 8 592 24 6 1 1 3 1 1 1 8 592 24 5 1 1 3 1 1 1 8 592 24 4 1 1 3 1 1 1 8 592 24 3 1 1 3 1 1 1 8 592 24 2 1 1 1 1 1 5 386 16 1 1 1 1 1 1 5 502 19 G 0 0 0 B 8244 331 10 14 5 5 1 39 10 0 15 10 0 0 1 0 1 1 0 0 112 TOTAL B7 9% 13% 4% 4% 1% 9% 0% 13% 9% 0% 0% 0% 1% 0% 63% Residential NIA m2 Hab room Social Replacement 2 2 1 15 5 7 7 1 1 1 0 0 42 3434 140 Social Rent 0 0 0 Intermediate Affordable Rent 4 3 2 1 10 596 23 Intermediate Ownership 1 2 6 2 2 1 14 1041 42 Market Rent 0 0 0 Market Sale 3 7 5 5 16 2 6 2 46 3174 126 discount market rent 0 TOTAL B7 10 14 5 5 1 39 10 0 15 10 0 0 1 0 1 1 0 0 112 8244 331 BUILDING 08 - PHASE 1 BUILDING 08 1B2P 1B2P 1B2P 1B2P 1B2P 2B4P 2B4P 2B3P 3B5P 3B5P 3B5P 3B5P D 3B5P D 4B6P D 4B6P D 4B6P D 4B7P D 5B8P D TOTAL Unit Area 53.9 51 51.8 54.5 63.1 77.2 72.5 69.6 94.5 88.2 89.5 108.5 104.6 137.7 137.5 119.2 117 148.1 Unit type T 01.A T 01.B T 01.C T 01.D T 01.E T 02.A T 02.B T 02.C T 03.A T 03.B T 03.C T 03.D T 03.E T 04.A T 04.B T 04.C T 05.A Residential NIA m2 Hab room 16 1 2 3 205 8 15 1 1 1 2 1 6 406 16 14 1 1 1 2 1 6 406 16 13 1 1 1 2 1 6 406 16 12 1 1 3 1 1 1 8 592 24 11 1 1 3 1 1 1 8 592 24 10 1 1 3 1 1 1 8 592 24 9 1 1 3 1 1 1 8 592 24 8 1 1 3 1 1 1 8 592 24 7 1 1 3 1 1 1 8 592 24 6 1 1 3 1 1 1 8 592 24 5 1 1 3 1 1 1 8 592 24 4 1 1 3 1 1 1 8 592 24 3 1 1 3 1 1 1 8 592 24 2 1 1 2 1 5 348 14 1 1 1 1 1 1 5 526 21 G 1 1 1 3 363 14 B 8577 345 11 16 3 3 0 40 10 1 13 11 0 1 0 2 0 1 1 1 114 TOTAL B8 10% 14% 3% 3% 35% 9% 1% 11% 10% 0% 1% 0% 2% 0% 1% 1% 1% 100% Residential NIA m2 Hab room Social Replacement 4 3 3 20 5 1 8 6 1 2 1 1 1 56 4552 184 Social Rent 0 0 0 Intermediate Affordable Rent 6 7 5 18 1066 41 Intermediate Ownership 1 1 2 131 5 Market Rent 0 0 0 Market Sale 4 5 14 5 5 5 38 2827 115 discount market rent 0 TOTAL B8 11 16 3 3 0 40 10 1 13 11 0 1 0 2 0 1 1 1 114 8577 345
BUILDING 09 - PHASE 2b BUILDING 09 1B2P 1B2P 1B2P 1B2P 1B2P 1B1P 2B3P 2B4P 2B4P 2B4P 3B5P 3B5P 3B5P 3B5P 3B5P D 3B5P D 4B6P D 4B6P D 4B6P D 4B7P D 5B8P D TOTAL UNITS Unit Area 51 51.8 53.9 54.5 50 37 69.2 72.5 77.2 70 88.2 89.5 94.5 86 104.6 108.5 119.2 137.5 136.2 137.7 148.1 Unit type T 01.B T 01.C T 01.A T 01.D T 02.C T 02.B T 02.A T 03.B T 03.C T 03.A T 03.E T 03.D T 04.B T 04.A T 04.D T 04.C T 05.A Residential NIA m2 Hab room 15 1 1 2 4 228 10 14 1 5 2 8 376 18 13 1 5 2 8 376 18 12 7 3 4 14 748 32 11 7 3 4 14 748 32 10 7 3 4 14 748 32 9 7 3 4 14 748 32 8 7 3 4 14 748 32 7 7 3 4 14 748 32 6 7 3 4 14 748 32 5 7 3 4 14 748 32 4 7 3 4 14 748 32 3 7 3 4 14 748 32 2 7 3 4 14 748 32 1 2 2 4 176 8 G 0 0 0 B 9384 406 82 0 0 0 0 46 0 0 0 50 0 0 0 0 0 0 0 0 0 0 0 178 TOTAL B9 46% 0% 0% 26% 0% 28% 0% 0% 0% 0% 0% 0% 100% Residential NIA m2 Hab room Market Rent 82 0 0 0 0 46 0 0 0 50 0 0 0 0 0 0 178 9384 406 discount market rent 0 TOTAL B9 82 0 0 0 0 46 0 0 0 50 0 0 0 0 0 0 0 0 0 0 0 178 9384 406
Appendix 10: Residential Market Report and Pricing
WESTMINSTER CITY COUNCIL EBURY BRIDGE ESTATE RESIDENTIAL MARKET REPORT SALES MAKET.
JUNE 2020 [Final]
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
TABLE OF CONTENTS
1. Executive Summary ...... 3 2. Introduction ...... 6 2.1. Brief ...... 6 2.2. Site Overview ...... 6 3. Market Context ...... 8 3.1.1. Local ‘Catchment’ Area ...... 8
3.1.2. ‘Benchmark’ Area...... 8
3.1.3. Property Types ...... 9
3.2. The Local Comparable Schemes ...... 9 4. Sales Values ...... 15 4.1. Sales Market Context ...... 16 4.2. Catchment Area Sales Value Analysis...... 17 4.3. Selected Local Schemes...... 18 4.4. Per Square Foot Sales Value Analysis ...... 19 4.5. Profile Of Properties Sold ...... 21 4.6. Estimated Sales Values ...... 22 5. Conclusion ...... 24 6. Appendix 1 – Sales Case Studies ...... 25
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
1. EXECUTIVE SUMMARY London / SW1 Housing Market
The City of Westminster remains one of London’s most expensive boroughs in both rental and sales terms. According to Foxtons, the average property price in SW1 is 219.5% above the London average of £598,340, and Westminster’s average rental price is 51.5% above the London average of £743 per week.
The news that the Conservative Party won a strong majority in the December 2019 election was followed by a notable improvement in the sales market sentiment. The London sales market performed well over the first ten weeks of 2020 with a higher volume of sales than in any quarter since Q1 2018.
In January 2020, JLL predicted a 15% rise in sale prices over the next five years, with the sharpest increase expected to be between 2020 and 2021. However, the sales market changed rapidly in early March 2020 as it became clear that COVID-19 would have a very tangible impact on the UK. Whilst there is still a level of online interaction between sellers and buyers, sales activity has declined sharply across the board and some previous reservations have fallen through.
The Local ‘Catchment Area’
Our Catchment Area which informed much of the data within our report includes the following postcodes: Pimlico, Belgravia, Chelsea, Brompton and Knightsbridge.
Average & Top Quartile Sales Value Analysis
Flat House
Studio 1 bed 2 bed 3+ bed 2 bed 3+ bed
Average sales prices £426,469 £714,102 £817,641 £1,818,601 n/a £4,100,991 Annual change in average sales prices -2% 16% -1% -4% n/a 7%
Top quartile sales price threshold £498,500 £738,750 £975,000 £1,900,000 n/a £5,118,750 Annual change in top quartile sales price threshold 2% -2% -2% -19% n/a 13% Per Square Foot Sales Value Analysis
Flat House All
Average sales prices £1,298 £1,747 £1,380
Annual change in average sales prices -5% -1% -4% CATCHMENT CATCHMENT
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Top quartile sales price threshold £1,486 £2,038 £1,670
Annual change in top quartile sales price threshold -9% 1% -4%
Depth of the Markets
The data provided by Dataloft appears to show three different ‘peaks’ of sales value brackets within the Catchment Area. At the lower end, this peak is between the £600,000-£700,000 bracket. The second can be seen between values of £1,000,000 - £1,250,000, with the largest proportion of sales values (22%) in excess of £2,000,000.
Comparables Summary – Sales Values
Westminster Abell & Grosvenor The Nova Scheme King's Gate Riverwalk Ebury Place Quarter Cleland Waterside Building
Low - - £450,000 - £795,000 - - Studio High - - £520,000 - - - - Low £899,000 £950,000 £695,000 £1,225,000 - £995,000 £750,000 1 Bed High £1,035,000 £1,100,000 £850,000 - - £1,500,000 £905,000 Low £1,435,000 £1,560,000 £1,300,000 £1,825,000 - £1,750,000 £1,025,000 2 Bed High £1,565,000 £2,232,500 £1,825,000 £4,150,000 - £3,350,000 £1,500,000 Low £1,695,000 £2,000,000 £2,250,000 £2,850,000 £2,900,000 £4,250,000 £1,420,000 3 Bed High £3,200,000 £2,850,000 £4,085,000 £8,950,000 £3,755,000 - £2,100,000
SAY’s Estimated Sales Values
Assumed Area Mean Sales No. of Bedrooms Low Estimate High Estimate Mean Value PSF Value (sq. ft) Studios 388 £490,000 £610,000 £550,000 £1,411 1 Beds 572 £700,000 £870,000 £790,000 £1,388 2 Beds 823 £1,050,000 £1,300,000 £1,180,000 £1,434 3 Beds 984 £1,320,000 £1,630,000 £1,480,000 £1,503 3 Bed Duplex 1141 £1,530,000 £1,890,000 £1,720,000 £1,503 4 Bed 1421 £1,870,000 £2,310,000 £2,100,000 £1,480 5 Bed 1593 £2,060,000 £2,550,000 £2,320,000 £1,457 Assuming horizontal split for tenure types
Summary Sales Statistics
• Average sales price of £1,652,979 • Average per square foot sales price of £1,380. • Threshold of top quartile prices of £1,850,000. • Threshold of top quartile per square foot sales prices of £1,670.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
• Most active sales band in excess of £2,000,000. • Most active per square foot sales band of £1,000 - £1,250. • Price growth of -2.4% over the past years (last 12 months vs previous 12).
SWOT Analysis
STRENGTHS WEAKNESSES • Strong rental market with high • Lack of an established BTR market growth levels over the past year, within the local area resulting in a coincided with a an increasingly higher risk factor. positive outlook for the local sales market. • A decline in average sales values over the past twelve months. • Excellent transport links should ensure continued demand. • Lack of evidence in respect of the pepperpotting of tenure types. • Strong demand from young professionals, overseas tenants, and students particularly for one and two-bedroom units.
OPPORTUNITIES • Opportunity to compete against THREATS other nearby, lower scale BTR • Concerns over the impact of Brexit. schemes who have not tailored their products to the target market • Large numbers of residential new builds currently planned within the • Opportunity to capitalise on a area leading to a potential risk of growing student market wihin the oversupply - 10 are currently under Westminster area. There has been a construction. 34% increase in the number of Chinese Students in the UK over the • Legislatory changes in the way of last 5 years. rent reforms or caps.
• Opportunity to market to the pied-a- terre sector.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
2. INTRODUCTION 2.1. BRIEF
This report has been prepared for Westminster City Council by SAY Property Consulting LLP using data from Dataloft and advice received from several Pimlico-based sales agents. The purpose of this report is to provide Westminster City Council with advice in respect of the proposed residential development on Ebury Bridge Road (‘the Scheme’).
The report includes analysis of the local development pipeline, demographics, sales values in the local area and comparable areas, and sales values for the Scheme.
The developing site plans which have been provided indicate that the mixed-use development will provide residential, retail and cultural facilities positioned within an improved public space. It is our understanding that the redevelopment will include the construction of buildings ranging from 6 to 19 storeys which will provide approximately 750 new residential units (of which 342 will be affordable), new retail floorspace, cultural space, as well as basement and grade car park spaces. The breakdown of the proposed unit mix and type is as follows; 82 one-beds, 104 two-beds, and 35 three-beds.
2.2. SITE OVERVIEW
The Site falls within the administrative boundary of the City of Westminster. The location of the Site is indicated on the maps below.
Figure 1 - Map indicating location of the Site - London Context
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
Figure 2 - Map Indicating Location of the Site - Local Context
The Scheme is located on the east side of Ebury Bridge Road. The Scheme is also bounded by Ebury Bridge to the north, railway tracks to the east, and Grosvenor Waterside to the south.
Ebury Bridge is located in the South of the borough, close to Victoria Station in the parish of St George Hanover Square, to the west of Pimlico near the meeting of the river Westbourne with the river Thames. The railway tracks to Victoria act as a physical barrier to the east of the estate and the Belgravia neighbourhood is to the west. Built in the 1930s, Ebury Bridge Road is one of Westminster’s oldest council estates, and is situated within Westminster City Council’s Churchill ward, as indicated by the map below.
Figure 3 - Boundary of the Churchill Ward
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
3. MARKET CONTEXT 3.1.1. LOCAL ‘CATCHMENT’ AREA
When looking at anticipated values in the area surrounding Ebury Bridge Road, we have focussed on the area shown in Figure 4 below and have also obtained data from Dataloft on the sales values in the past twelve months for the whole of the local ‘Catchment Area’ and we have used the City of Westminster as the ‘Benchmark Area’.
All of the local data presented in this report has therefore been recorded from properties within this Catchment Area.
Figure 4 - Map of the Local Catchment Area
The data collection area extends beyond the Ebury Bridge Estate, to areas including Pimlico, Victoria, and Chelsea (part). Whilst we recognise that these areas will differ somewhat from the Ebury Bridge Estate, they have been included because of their proximity to the site, and the fact they contain key comparable schemes, which must be included within the data to provide relevant analysis.
3.1.2. ‘BENCHMARK’ AREA
In order to contextualise the data collected for the ‘Catchment Area’, it is useful to provide a comparison with the surrounding areas. We have therefore compared the Catchment Area with the Benchmark Area which is the City of Westminster as shown below.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
Figure 8 identifies the benchmark area, with the shaded area outlining the postcodes included.
Figure 5 - Map of the Benchmark Area – City of Westminster
3.1.3. PROPERTY TYPES
The housing stock within this area of London is primarily comprised of Georgian styled housing which have largely been converted into apartments, some of which are large in size and can form suitable family homes.
There is a growing number of purpose-built apartment blocks in the City of Westminster; according to the 2011 census, 67% of all dwellings were flats or maisonettes, the third largest percentage in inner London behind Tower Hamlets and City of London. This is 13% higher than the inner London average of 54%.
3.2. THE LOCAL COMPARABLE SCHEMES
We have identified a number of comparable schemes which have been completed within the area surrounding the site. At present, they represent some of the best comparable evidence for Ebury Bridge Estate. By analysing the rental values achieved at these schemes, we are able to gain a better understanding of the ceiling prices for the and the likely range of rental values. We are also able to identify any drivers of values.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
Number Scheme 1 Westminster Quarter 2 Abell & Cleland 3 Buckingham Green 4 Grosvenor Waterside 5 Chelsea Barracks 6 The Nova Building 7 King’s Gate 8 Riverwalk 9 Churchill Gardens 10 1-3 Hobhouse Court 11 One Howick Place
Figure 7 - Map of local comparable schemes
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
COMPARABLE 1 — Westminster Quarter
Westminster Quarter was developed by Taylor Wimpey and was completed during Q4 2017 and sold out during Q2 2018.
The scheme is located as few minutes' walk from
Westminster Bridge and Parliament Square providing the development with a desirable location. The scheme delivered 103 units of which 91 were private and 12 were affordable. The unit types break down as follows; 1 studio, 54 one-beds, 20 two-beds and 28 three-beds.
The flats benefit from private balconies / winter gardens or patios as well as a resident’s gym and a communal roof garden with views of the Houses of Parliament.
Low Sales Value High Sales Value
1 BED £899,000 £1,035,000
2 BED £1,435,000 £1,565,000
3 BED £1,695,000 £3,200,000
COMPARABLE 2— Abell & Cleland (Abell House + Cleland House)
Berkeley Homes sold out Abell & Cleland in Q1 2018, having completed in Q1 2017. The scheme includes 275 units, of which 208 are private and 67 are affordable.
The mix is as follows; 67 one-beds, 115 two-beds, 85
three-beds and 8 four-beds.
The development offers full access to a swimming pool, gym, and spa and benefits from a 24-hour concierge.
Low Sales Value High Sales Value
1 BED £950,000 £1,100,000
2 BED £1,560,000 £2,232,500
3 BED £2,000,000 £2,850,000
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
COMPARABLE 3 – Grosvenor Waterside P2 (Building A + B and Building C)
Grosvenor Waterside Building C was developed by St. James and Qatari Diar and completed with all units sold in Q3 2011. The development comprises 299 residential
units including 196 affordable units, restaurant, health and fitness centre and basement car parking. The breakdown of private units is as follows: 6 studios, 33 one-beds, 36 two-beds and 28 three-beds. Grosvenor Waterside Buildings A + B was completed and fully sold by the end of Q4 2012. The scheme is less than five minutes’ walk to the subject site and delivered 323 residential units including 60 affordable units. The breakdown of private units is as follows: 49 studios, 82 one-beds, 57 two-beds and 72 three-beds.
Low Sales Value High Sales Value
STUDIO £420,000 £520,000
1 BED £695,000 £850,000
2 BED £1,300,000 £1,825,000
3 BED £2,250,000 £4,085,000
COMPARABLE 4 — Chelsea Barracks
The Chelsea Barracks site is situated on Ebury Bridge Street on the opposite side of the road of the subject property. The scheme is spread over 13 acres and is
currently under construction for delivery of a mixed-use site comprising 448 residential units, a sports centre, retail and a health centre. Phase 1 of the scheme, which included the construction of 68 private units, completed in Q3 2019.
Low Sales Value High Sales Value
1 BED TBC TBC
2 BED TBC TBC
3 BED TBC TBC
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
COMPARABLE 5 — The Nova Building (Victoria Circle)
The residential element of Victoria Circle sold out in Q2 2019 having completed during Q1 2017. The scheme, located on Buckingham Palace Road, was developed by
Landsec and delivered 170 private units made up of 16 studios, 49 one-beds, 66 two-beds, 36 three-beds and 3 four beds. The residents also have access to a residence cinema that can be rented out, a lounge, gym and private roof top garden on the ninth floor with views overlooking central London.
Low Sales Value High Sales Value
1 BED £1,225,000
2 BED £1,825,000 £4,150,000
3 BED £2,850,000 £8,950,000
COMPARABLE 6 - King’s Gate (Kingsgate House)
Lansec completed Kingsgate House during Q3 2015 and the scheme sold out in Q1 2018. The scheme comprises 1 building of 4 basement levels, ground and 14 upper floors
delivering 102 private residential units with roof gardens at main roof level and commercial units at ground and first floor levels. The development is situated on Victoria Street and includes a new area of public realm including shared
surface servicing arrangements and landscaping, new basement car and cycle parking. The breakdown of private units is as follows; 4 studios, 38 one-beds, 30 two-beds, 25 three-bed and 5 four-bed.
Low Sales Value High Sales Value
STUDIO £795,000
1 BED
2 BED
3 BED £2,900,000 £3,755,000
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
COMPARABLE 7 – Riverwalk
The Riverwalk was developed by Heron Corporation, and construction was completed in September 2016. The scheme sold out in December 2019. The scheme delivered 113 units for private sale: 34 one-beds, 40 two-beds, 36 three-beds, and 3 four-beds. The apartments benefit from views across the river Thames, and London skyline, with the majority of the apartments benefitting from private balcony space.
The development also offers residents exclusive access to private facilities, which include a fitness suite overlooking the Thames, concierge and 24hr security.
Low Sales Value High Sales Value
1 BED £995,000 £1,500,000
2 BED £1,750,000 £3,350,000
3 BED £4,250,000 £5,750,000
COMPARABLE 8 – Churchill Gardens Churchill Gardens is a large housing estate in the Pimlico are of Westminster, London. The estate was developed between 1946 and 1962 replacing damaged Victorian
housing.
The development comprises 1,600 homes across 32 blocks. Many of the estates larger buildings are accessible using lifts leading directly onto the street. The estate is also notable for its early and rare example of district heating in
the UK, the Pimlico District Heating Undertaking.
Low Sales Value High Sales Value
1 BED £450,000
2 BED £525,000 £580,000
3 BED £575,000 £600,000
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
4. SALES VALUES As noted previously, Dataloft, have provided an analysis of the local sales market. The local Catchment Area identified above has been used and the sales data for the past twelve months has been analysed, producing an area-specific index of sales values which can be further divided by unit type and household.
The results from our data collection can be described as somewhat erratic, and this can be attributed to the profile and range of sales in the area. For the purpose of this report, any sales in excess of £20,000,000 have been excluded.
Flat House
Studio 1 bed 2 bed 3+ bed 2 bed 3+ bed
Average sales prices £426,469 £714,102 £817,641 £1,818,601 n/a £4,100,991
Annual change in average sales prices
NT -2% 16% -1% -4% n/a 7%
Top quartile sales price threshold CATCHME £498,500 £738,750 £975,000 £1,900,000 n/a £5,118,750
Annual change in top quartile sales price threshold 2% -2% -2% -19% n/a 13%
Average sales prices £470,168 £648,123 £858,755 £1,947,385 n/a £3,690,422
Annual change in average sales prices 3% 7% -2% -20% n/a 6%
Top quartile sales price threshold BENCHMARK BENCHMARK £499,750 £701,373 £1,011,250 £2,279,212 n/a £4,287,500
Annual change in top quartile sales price threshold 1% 3% 2% -19% n/a -3%
The above graphic indicates that average sales prices for apartments within the Catchment Area have decreased over the past twelve months across all apartment types, excluding two-bedroom flats which experienced positive growth of 16% over the past twelve months. To summarise the Catchment Area has experienced a decline in average sales price of 2.4% over the past twelve months. This is in line with the steady decline in house prices across London. The average sales
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
price within the Catchment Area was £1,625,979, with an upper quartile threshold of £1,850,000. The most active price band, accounting for 22% of all sales was those sold for in excess of £2,000,000.
The breakdown of unit types and mix within the private sales market in the catchment area can be determined to a large extent through an analysis of the properties sold within the past 12 months. During the period from which the data was collected there were 437 sales in the Catchment Area, and 2,441 in the Benchmark Area. A summary of this information is shown in the table below;
FLATS Studio 1 bed 2 bed 3+ bed Catchment 5% 19% 20% 38% Benchmark 6% 20% 19% 42% HOUSES 1/2 bed 3+ bed Catchment 1% 18% Benchmark 1% 10%
4.1. SALES MARKET CONTEXT
In August 2019 the seasonally-adjusted average house price in London was £467,000 (ONS), which was 1.4% lower than in August 2018. London had the lowest annual growth of any region in the UK in the year to August 2019. In England, average house prices rose by 1.1% last year, which remains subdued. However, price growth was positive in all regions except London and the South East.
Prices in inner London have been falling since January 2018, but the speed of decline slowed in the third quarter of 2019, after a challenging first half of 2019. Looking ahead, a conclusion to Brexit could see the high end London market recover quite quickly as there is considerable unsatisfied buyer demand which has built up over several years. London remains a highly attractive location for international buyers who intend to hold onto properties for the long term. Its transparent property law, and clear title on property status are undiminished.
There have already been some encouraging signals coming from the higher value central London locations, which often lead the market in terms of both price falls and price recoveries: prices have generally stabilised and, in some locations where demand is especially strong, prices are creeping up again. More widespread return to price growth is anticipated across Central London in 2020, although increases are likely to be moderate at around 2%.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
Catchment Top quartile Benchmark
80%
60%
40%
20%
0%
-20%
-40% Q316 Q416 Q117 Q217 Q317 Q417 Q118 Q218 Q318 Q418 Q119 Q219 Q319
Figure 8 – Price growth from Q316
From Q3 2016 to Q2 2018, both the Catchment and Benchmark Areas experienced identical levels of year-on-year sales price growth. The annual change in year-on-year sales values has been recovering over this period until Q3 2019, where it dipped to negative growth of 5%. The sales prices in the top quartile appear to more susceptible to market changes, however, due to the profile and nature of the area peaks in growth within the top quartile, such as the 73% year- on-year growth experienced in Q3 2017, can be representative of sales in prime Central London properties which have skewed the data.
4.2. CATCHMENT AREA SALES VALUE ANALYSIS
This notion is further supported when looking at the range of sales prices within the Catchment Area over the past twelve months. The inclusion of some highly sought-after postcodes within the Catchment Area has resulted in some very high sales values which have affected our analysis.
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Minimum-maximum Average £12,000,000
£8,000,000
£4,000,000
£0 Studio 1 bed flat 2 bed flat 3+ bed flat Figure 9 – Average sale price and range
A knowledge of the depth of the market is critical in order to assess the demand and avoid incorrect pricing strategies. The data provided, appears to show three different ‘peaks’ of sales value brackets within the Catchment Area. At the lower end, this peak is between the £600,000- £700,000. The second can be seen between the £1,000,000 - £1,250,000 bracket, with the largest proportion of sales values (22%) in excess of £2,000,000.
Catchment Benchmark 25%
20%
15%
10%
5%
0%
Figure 10 – Depth of the sales market
4.3. SELECTED LOCAL SCHEMES
We have chosen to compare the most recent sales values for properties within the Ebury Bridge Estate, Churchill Gardens, Abbots Manor, as well as the sales values analysed in Section 4.5 above, which are also reproduced below for reference. Where appropriate, sales values have
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
been indexed using the HPI for Westminster to provide values as at February 2020. Sales values are expressed for non-LA schemes in £psf format.
Estate Name One-bed Two-bed Three -bed Ebury Bridge £430,000- £550,000 £605,000 - £775,000 - Churchill Gardens £450,000 £525,000 - £580,000 £575,000 - £600,000 Abbots Manor £410,000 - £450,000 £490,000 - £590,000 £550,000 - £660,000
Average Sale Price (New Build) Average Sale Price (HPI Adjusted)
1 Bed 2 Bed 3 Bed 1 Bed 2 Bed 3 Bed
Westminster Quarter £1,615 £1,746 £1,628 £1,437 £1,554 £1,449
Abell & Cleland £1,607 £1,925 £4,628 £1,747 £2,093 £5,033
Grosvenor Waterside £1,156 £1,256 £1,489 £1,761 £1,914 £2,269
The Nova Building - £2,082 £2,616 - £2,091 £2,628
Riverwalk £2,149 £2,010 £2,533 £2,065 £1,932 £2,434
Ebury Place £2,204 £2,784 £3,565 £3,045 £3,846 £4,925
The Cubitt £764 £698 £699 £840 £767 £769 Battersea Power Station £965 £984 £1,300 £1,309 £1,253 £1,636 (Ph.1) Battersea Power Station £1,682 £1,735 £1,896 - - - (Ph.3) Battersea Exchange £1,043 £1,005 £1,033 £1,024 £988 £1,015
101 Prince of Wales Drive £1,226 £1,166 £1,741 £1,167 £1,109 £1,657
4.4. PER SQUARE FOOT SALES VALUE ANALYSIS
Sales value analysis often requires a more detailed analysis on a £/SF level. Although another useful tool of analysis, £/SF value is not the best indicator of a home’s overall value. There are many other variables which can affect the market value of a property.
Flat House All
Average sales prices
£1,298 £1,747 £1,380
Annual change in average sales prices -5% -1% -4%
CATCHMENT Top quartile sales price threshold £1,486 £2,038 £1,670
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Annual change in top quartile sales price threshold Average sales prices -9% 1% -4% £1,326 £1,654 £1,366
Annual change in average sales
prices -8% -1% -7%
Top quartile sales price threshold BENCHMARK £1,548 £1,783 £1,593
Annual change in top quartile sales price threshold -9% 7% -8% The above graphic indicates the average per square foot sales values from our selected Catchment Area and has sub-divided these into three categories; flats, houses, and all tenures. In line with our sales values analysis above it would appear that the sales market in the Catchment Area also struggled through 2019 with decreases in average value across both flats and houses. The annual change in value of flats is more exaggerated when focussing on the upper quartile of the market, with an annual change in the threshold of -9%. According to Savills, during the first quarter of 2019, the prime market in London recorded its 14th consecutive quarter of price falls. The price growth over the past 12 months, when compared with the same period in the previous year was -4.2%,
The wider area of the City of Westminster appears to have been more affected by the apparent dip in the market, with a higher decline in average sales values of flats in the area. Despite significant investment in placemaking over the past few years, this has yet to be reflected in the sale of second-hand residential property. According to Savills research, the average property in Westminster is £1,400 per sq ft, compared with £2,100 per sq ft in Belgravia. Nearby Pimlico is £1,100 per sq ft. The regeneration around Victoria has transformed the area. It is now far more than just a destination for work, but the residential market still provides significant value for its central location.
There is not much disparity between the average and top quartile threshold values across the Catchment and Benchmark Areas. Flats within the Benchmark Area are more expensive than the Catchment Area, however, interestingly when looking at per square foot sales values in for houses, these command a higher sales value in the Catchment Area.
Within the Catchment Area they average sales value per square foot across all unit types was £1,380, with a top quartile price threshold of £1,670. The most active sales price band was £1,000-£1,250 per square foot.
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30% Catchment Benchmark
25%
20%
15%
10%
5%
0%
Figure 11 – Distribution of sales values per square foot
Value Band Catchment Benchmark Under £250 1% 0% £250-£500 2% 2% £500-£750 5% 10% £750-£1000 15% 25% £1000-£1250 24% 22% £1250-£1500 15% 15% £1500-£1750 13% 8% £1750-£2000 11% 6% £2000-£2250 7% 3% £2250-£2500 2% 2% £2500+ 5% 5%
The distribution of price per square foot values is clearly largest between the £750 and £2,000 price points, accounting for 64% of all sales. In comparison there is a less evenly distributed bell curve within the Benchmark area, with a peak at the lower end of the market. The most active price per square foot band in the Benchmark Area is £750-£1000, with 72% of all sales between £500 and £1500 per square foot.
4.5. PROFILE OF PROPERTIES SOLD
Unfortunately, the number of new build sales in our sample has not been sufficient to conduct any pricing analysis at this level. We can however identify what proportion of sales within the past twelve months have been for new build properties within the Catchment Area.
FLATS New Resale Catchment 3% 78% Benchmark 9% 79% HOUSES New Resale Catchment 0% 18% Benchmark 0% 12% As can be seen from the below the highest proportion of sales within the Catchment Area was for Resale flats, which accounted for 78% of sales in the Catchment Area. The sale of new build flats
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within the Catchment Area equated to a total of 3% of the market. To a certain extent these statistics are relatively dependent upon the supply of the market, and with regards to new build completions there was little brought to the market during the period from which the data has been collated.
Catchment Benchmark 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% New Resale New Resale
Flats Houses
Figure 12 – Proportion of new builds and resales
4.6. ESTIMATED SALES VALUES
Based on the information collected above and our research into the local sales market, our estimated sales values are set out below. These are based on the same assumptions as our rental values, i.e. our knowledge of the specification of the scheme and predicated on the inclusion of a policy of a horizontal tenure split.
Assumed Area Mean Sales No. of Bedrooms Low Estimate High Estimate Mean Value PSF Value (sq. ft) Studios 388 £490,000 £610,000 £550,000 £1,411 1 Beds 572 £700,000 £870,000 £790,000 £1,388 2 Beds 823 £1,050,000 £1,300,000 £1,180,000 £1,434 3 Beds 984 £1,320,000 £1,630,000 £1,480,000 £1,503 3 Bed Duplex 1141 £1,530,000 £1,890,000 £1,720,000 £1,503 4 Bed 1421 £1,870,000 £2,310,000 £2,100,000 £1,480 5 Bed 1593 £2,060,000 £2,550,000 £2,320,000 £1,457 Red text indicates unit type not currently proposed for Market Sale (Revision T)
In addition to this, we have prepared a study of the different tenure options, the results of which are below:
Type Base Price Horizontal Split Vertical Split Pepperpotted Studio £1,525 -7.50% £1,411 -10% £1,373 -15% £1,296 1 bed £1,500 -7.50% £1,388 -10% £1,350 -15% £1,275 2 bed £1,550 -7.50% £1,434 -10% £1,395 -15% £1,318 3 bed £1,625 -7.50% £1,503 -10% £1,463 -15% £1,381
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4 bed £1,600 -7.50% £1,480 -10% £1,440 -15% £1,360 5 bed £1,575 -7.50% £1,457 -10% £1,418 -15% £1,339
Please note that due to the proclivity of developers and planners to promote the progression of schemes which are not fully tenure-integrated, these are indicative assumptions. We have undertaken a number of case studies of the few instances where extensive mixing of tenures exists in practice, however this is a limited sample. The case studies are outlined in Appendix 2. Please also see the Supplementary Sales Value Report and accompanying presentation for further details.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
5. CONCLUSION To recap, based on the information presented in this report, the estimated sales values for the market sale units below, based on a scheme with horizontally-split tenures are reproduced below. The ERVs take into consideration the new build nature of the scheme with a medium to high specification and considered amenity provision, including an onsite leisure facility, concierge service and resident’s lounge area / co-working space.
The values achieved for each unit type will range based on a number of factors, including height in the building and therefore the quality of views. The tenure mix approach will also have an impact on sales values.
It must be noted that these sales values are based on what could be achieved today; therefore, the potential for value increase, which will be driven by the wider regeneration, has not been speculated upon.
Assumed Area Mean Sales No. of Bedrooms Low Estimate High Estimate Mean Value PSF Value (sq. ft) Studios 388 £490,000 £610,000 £550,000 £1,411 1 Beds 572 £700,000 £870,000 £790,000 £1,388 2 Beds 823 £1,050,000 £1,300,000 £1,180,000 £1,434 3 Beds 984 £1,320,000 £1,630,000 £1,480,000 £1,503 3 Bed Duplex 1141 £1,530,000 £1,890,000 £1,720,000 £1,503 4 Bed 1421 £1,870,000 £2,310,000 £2,100,000 £1,480 5 Bed 1593 £2,060,000 £2,550,000 £2,320,000 £1,457
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6. APPENDIX 1 – SALES CASE STUDIES Having received sales data which covers the same timeframe as our rental report we have provided sales comparables based on the average and top quartile sales values for each unit type.
Sloane Avenue Mansions, Sloane Avenue, SW3
No. of bedrooms Studio Floor area (square feet) 270 Asking price £425,000 £ / SF £1,574 Amenities 24-hour porter, communal hot water and heating.
Other Features None.
Sloane Avenue Mansions, Sloane Avenue SW3
No. of bedrooms Studio Floor area (square feet) 258 Asking price (£pcm) £500,000 £ / SF £1,938 Amenities 24-hour porter, communal hot water and heating.
Other Features 8th floor apartment.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
Gatliff Road, Chelsea, SW1W
No. of bedrooms One-bedroom Floor area (square feet) 579 Asking price (£pcm) £700,000 £ / SF £1,209 Amenities 24/7 concierge, gym and leisure facilities.
Other Features Private balcony.
Cubbit Building, 10 Gatliff Road, Chelsea, SW1W
No. of bedrooms One-bedroom Floor area (square feet) 604 Asking price (£pcm) £750,000 £ / SF £1,241 Amenities 24/7 concierge, gym and leisure facilities.
Other Features Parking space and two balconies.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
Cambridge Street, Pimlico, SW1V
No. of bedrooms Two-bedrooms. Floor area (square feet) 659 Asking price (£pcm) £825,000 £ / SF £1,252 Amenities None.
Other Features High ceilings, feature fireplace.
Chelsea Gate Apartments, 93 Ebury Bridge Road, SW1W
No. of bedrooms Two-bedrooms Floor area (square feet) 829 Asking price (£pcm) £1,000,000 £ / SF £1,206 Secure underground parking, resident’s gym and Amenities 24-hour concierge.
Other Features Fitted wardrobes and a west-facing balcony.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
Vincent Square, Westminster, SW1P
No. of bedrooms Three-bedrooms. Floor area (square feet) 1276 Asking price (£pcm) £1,750,000 £ / SF £1,371 Underground parking space, 24 hours concierge, Amenities and access to tennis courts with a nominal fee.
Other Features Split-level.
Sloane Court West
No. of bedrooms Thee-bedrooms Floor area (square feet) 1,496 Asking price (£pcm) £2,000,000 £ / SF £1,337 Concierge, residents parking, and communal Amenities gardens.
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EBURY BRIDGE ESTATE – RESIDENTIAL MARKET REPORT
Two bay windows (bedroom and reception room). Other Features Note 29-year lease.
Cadogan Gardens, Chelsea, SW3
No. of bedrooms Three-bedrooms Floor area (square feet) 1193 Asking price (£pcm) £2,000,000 £ / SF £1,676 Amenities None. Open/plan kitchen living, vault accessed via external Other Features patio.
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The views contained within this model are not intended as a formal valuation and should not be relied upon as such. No liability is extended to any third party and the figures suggested are given purely as guidance. All prices quoted are quoted subject to contract. The prices provided are based upon the information provided and may be subject to amendment if the information proves other than as stated or shown.
BUILDING 01 - PHASE 2 BUILDING 01 1B2P - A 1B2P - B 2B3P - A 2B3P - B 2B4P - A 2B4P - B 2B4P - C 2B4P - C 3B5P - A 3B5P - B 4B7P D 5B8P D Unit Area 51.5 51.1 61.4 63.9 74.2 76.1 76.5 76.5 91.3 99.5 122 130 NE / E SE / E 7 £1,020,668 £1,283,023 6 £1,000,945 £1,258,231 £1,258,231 5 £749,805 £952,309 £1,150,836 £1,156,699 £1,245,834 £1,245,834 £1,454,883 4 £746,074 £947,571 £1,145,110 £1,150,944 £1,239,636 £1,239,636 £1,447,645 3 £742,344 £942,833 £1,139,385 £1,145,189 £1,233,438 £1,233,438 £1,440,407 2 £734,883 £933,358 £1,127,934 £1,133,680 £1,221,042 £1,221,042 £1,425,930 1 £719,962 £914,406 £1,105,032 £1,110,661 £1,396,977 G £1,969,283 £2,065,629
BUILDING 02 - PHASE 3 BUILDING 02 1B2P - A 1B2P - B 1B2P - B 2B3P - A 2B3P - B 2B3P - B 2B4P - A 2B4P - A 2B4P - B 2B4P - C 2B4P - C 3B5P - A 3B5P - A 3B5P - B 3B5P - B 4B7P D 4B7P D 5B8P D Unit Area 51.5 51.1 51.1 61.4 63.9 63.9 74.2 74.2 76.1 76.5 76.5 91.3 91.3 99.5 99.5 122 122 130 N / NE S / SE SE / E NE / E N / NE S / SE SE / E NE / E N / W S / W SE / E NE / E NE / E SE / E 7 £1,020,668 £1,020,668 £1,283,023 £1,283,023 6 £1,000,945 £1,000,945 £1,258,231 £1,258,231 5 £749,805 £766,991 £766,991 £1,454,883 £1,454,883 £1,698,805 £1,698,805 4 £746,074 £763,175 £763,175 £1,447,645 £1,447,645 £1,690,353 £1,690,353 3 £742,344 £759,359 £759,359 £1,440,407 £1,440,407 £1,681,902 £1,681,902 2 £734,883 £751,727 £751,727 £1,425,930 £1,425,930 £1,664,998 £1,664,998 1 £719,962 £1,105,032 £1,105,032 £1,396,977 £1,396,977 G £1,969,283 £1,969,283
BUILDING 03 - PHASE 3 BUILDING 03 1B2P - A 1B2P - B 2B3P - A 2B3P - B 2B3P - B 2B4P - A 2B4P - A 2B4P - B 2B4P - C 2B4P - C 3B5P - A 3B5P - A 3B5P - B 3B5P - B 4B7P D 4B7P D 5B8P D Unit Area 51.5 51.1 61.4 63.9 63.9 74.2 74.2 76.1 76.5 76.5 91.3 91.3 99.5 99.5 122 122 130 SE / E NE / E N / NE S / SE SE / E NE / E N / W S / W SE / E NE / E NE / E SE / E 7 £1,020,668 £1,020,668 £1,283,023 £1,283,023 6 £1,000,945 £1,000,945 £1,258,231 £1,258,231 5 £749,805 £1,150,836 £1,150,836 £1,245,834 £1,245,834 £1,454,883 £1,454,883 4 £746,074 £1,145,110 £1,145,110 £1,239,636 £1,239,636 £1,447,645 £1,447,645 3 £742,344 £1,139,385 £1,139,385 £1,233,438 £1,233,438 £1,440,407 £1,440,407 2 £734,883 £751,727 £1,425,930 £1,425,930 £1,664,998 £1,664,998 1 £719,962 £1,105,032 £1,105,032 £1,396,977 £1,396,977 G £1,969,283 £1,969,283
BUILDING 04 - PHASE 3 BUILDING 04 1B2P - A 1B2P - B 1B2P - B 2B3P - A 2B3P - B 2B4P - A 2B4P - B 2B4P - C 2B4P - C 3B5P - A 3B5P - B 3B5P - B 4B7P D 4B7P D 5B8P D Unit Area 51.5 51.1 51.1 61.4 63.9 74.2 76.1 76.5 76.5 91.3 99.5 99.5 122 122 130 N / NE S / SE SE / E NE / E SE / E NE / E NE / E SE / E 7 £1,020,668 £1,283,023 6 £1,000,945 £1,258,231 £1,258,231 5 £749,805 £952,309 £1,150,836 £1,156,699 £1,245,834 £1,245,834 £1,454,883 4 £746,074 £763,175 £763,175 £1,150,944 £1,447,645 £1,690,353 £1,690,353 3 £742,344 £942,833 £1,139,385 £1,145,189 £1,233,438 £1,233,438 £1,440,407 2 £734,883 £933,358 £1,127,934 £1,133,680 £1,221,042 £1,221,042 £1,425,930 1 £719,962 £1,105,032 £1,110,661 £1,396,977 G £1,969,283 £1,969,283 £2,065,629
BUILDING 05 - PHASE 2 BUILDING 05 1B2P 1B2P 1B2P 1B2P 1B2P 1B2P 1B2P 1B1P 2B4P 2B4P 2B4P 2B4P 3B5P 3B5P 3B5P 3B5P D 3B5P 4B6P D 4B6P D 4B6P D 4B7P D 5B8P D Unit Area 51 51.8 53.9 54.5 50 50 50 37 77.2 77.2 77.2 77.2 88.2 89.5 94.5 104.6 86 119.2 137.5 136.2 137.7 148.1 Unit type T 01.B T 01.C T 01.A T 01.D T 01.E T 01.E T 01.E T 01.F T 02.A T 02.A T 02.A T 02.A T 03.B T 03.C T 03.A T 03.E T 03.F T 04.B T 04.A T 04.D T 04.C T 05.A NE / SE / SW NE / NW NW / SW NE / SE NE / NW NW / SW SE / SW 15 £847,124 £864,541 £1,791,409 14 £880,199 £835,519 £852,698 £1,306,022 £1,325,323 £1,766,870 13 £867,974 £823,915 £840,855 £795,285 £629,706 £1,287,883 £1,306,916 12 £855,749 £812,311 £829,012 £784,084 £620,837 £1,269,744 £1,288,509 11 £738,831 £796,838 £813,953 £746,746 £536,014 £1,209,280 £1,227,151 10 £735,137 £792,854 £809,884 £743,013 £533,334 £1,203,233 £1,221,015 9 £731,442 £788,870 £805,814 £739,279 £530,654 £1,197,187 £1,214,880 8 £727,748 £784,885 £801,744 £735,545 £527,974 £1,191,141 £1,208,744 7 £724,054 £780,901 £797,674 £731,811 £525,294 £1,185,094 £1,202,608 6 £720,360 £728,078 £706,235 £749,920 £522,614 £1,179,048 £1,196,472 £1,161,624 £1,196,472 5 £716,666 £1,173,001 £1,190,336 £1,190,336 £1,190,336 £1,438,601 £1,551,834 4 £712,972 £1,166,955 £1,184,201 £1,184,201 £1,184,201 £1,431,186 £1,543,835 3 £709,278 £1,160,909 £1,178,065 £1,178,065 £1,178,065 £1,423,770 £1,535,836 2 £694,501 £1,136,723 £1,153,522 £1,153,522 £1,153,522 £1,394,108 £1,503,839 1 £651,909 £692,234 £1,088,352 G B
BUILDING 06 - PHASE 2 BUILDING 06 1B2P 1B2P 1B2P 1B2P 1B2P 1B2P 1B2P 1B1P 2B3P 2B4P 2B4P 2B4P 2B4P 2B4P 3B5P 3B5P 3B5P D 3B5P D 3B5P 4B6P D 4B6P D 4B6P D 4B7P D Unit Area 51 51.8 53.9 54.5 50 50 50 37 69.2 72.5 77.2 77.2 77.2 70 89.5 94.5 104.6 108.5 96 119.2 137.5 136.2 137.7 Unit type T 01.B T 01.C T 01.A T 01.D T 01.E T 01.E T 01.E T 01.F T 02.C T 02.B T 02.A T 02.A T 02.A T02.F T 03.C T 03.A T 03.E T 03.D T 03.F T 04.B T 04.A T 04.D T 04.C NE / SE / SW NE / NW NW / SW NE / NW SE / SW NE / SE 18 17 £929,099 £881,937 £900,070 £851,291 £674,052 £1,398,952 £1,453,280 16 £908,724 £862,596 £880,331 £832,622 £659,270 £1,368,273 £1,421,410 15 £892,424 £847,124 £864,541 £817,687 £647,445 £1,343,730 £1,395,914 14 £880,199 £835,519 £852,698 £806,486 £638,576 £1,325,323 £1,376,792 13 £867,974 £823,915 £840,855 £795,285 £629,706 £1,306,916 £1,357,670 12 £855,749 £812,311 £829,012 £784,084 £620,837 £1,288,509 £1,338,548 11 £814,999 £773,629 £789,535 £746,746 £591,274 £1,227,151 £1,274,807 10 £810,924 £769,761 £785,587 £743,013 £588,317 £1,221,015 £1,268,433 9 £731,442 £1,144,110 £1,214,880 £1,144,110 £1,037,405 £1,513,673 £1,583,831 8 £727,748 £1,138,332 £1,208,744 £1,138,332 £1,032,166 £1,506,029 £1,575,832 7 £724,054 £797,674 £709,857 £753,766 £525,294 £1,132,553 £1,202,608 £1,132,553 £1,026,926 6 £720,360 £1,126,775 £1,196,472 £1,126,775 £1,021,687 £1,490,739 £1,559,833 5 £716,666 £1,120,997 £1,190,336 £1,120,997 £1,016,448 £1,483,094 £1,551,834 4 £712,972 £1,115,218 £1,184,201 £1,115,218 £1,011,208 £1,475,449 £1,543,835 3 £709,278 £1,109,440 £1,178,065 £1,109,440 £1,005,969 £1,467,804 £1,535,836 2 £1,063,928 £1,052,729 £954,547 £1,437,225 £1,489,239 1 £651,909 £1,431,750 £1,677,891 G £1,425,867 £2,013,763 B
BUILDING 07 - PHASE 1 BUILDING 07 1B2P 1B2P 1B2P 1B2P 1B2P 2B4P 2B4P 2B4P 2B4P 2B3P 3B5P 3B5P 3B5P 3B5P D 3B5P D 4B6P D 4B6P D 4B6P D 4B7P D 5B8P D Unit Area 53.9 51 51.8 54.5 63.1 77.2 77.2 77.2 72.5 69.6 94.5 88.2 89.5 108.5 104.6 137.7 137.5 119.2 136.2 148.1 Unit type T 01.A T 01.B T 01.C T 01.D T 01.E T 02.A T 02.A T 02.A T 02.B T 02.C T 03.A T 03.B T 03.C T 03.D T 03.E T 04.A T 04.B T 04.C T 04.D T 05.A NW / SW NE / SE NW / SW SW SE / SW NE / SE NE / NW SE / SW NE / NW NW / SW NE / SE / SW NW / SWNE / NW / SW NW / SW NE / SE NE / NW NE / NW NE / SE NE / NW SE / SW 17 16 £892,424 £847,124 £891,279 £1,395,914 £1,304,593 £1,707,699 15 £880,199 £835,519 £879,070 £1,376,792 £1,286,721 £1,684,306 14 £867,974 £823,915 £866,860 £1,357,670 £1,268,850 £1,660,912 13 £855,749 £812,311 £854,651 £1,338,548 £1,250,979 £1,637,519 12 £814,999 £773,629 £813,953 £1,274,807 £1,191,409 £1,559,542 11 £824,997 £735,137 £1,149,888 £1,149,888 £1,221,015 £1,079,882 £1,521,318 £1,462,494 10 £820,851 £731,442 £1,144,110 £1,144,110 £1,214,880 £1,074,455 £1,513,673 £1,455,145 9 £816,705 £727,748 £1,138,332 £1,138,332 £1,208,744 £1,069,029 £1,506,029 £1,447,795 8 £812,559 £724,054 £1,132,553 £1,132,553 £1,202,608 £1,063,602 £1,498,384 £1,440,446 7 £808,414 £720,360 £1,126,775 £1,126,775 £1,196,472 £1,058,176 £1,490,739 £1,433,097 6 £804,268 £716,666 £1,120,997 £1,120,997 £1,190,336 £1,052,749 £1,483,094 £1,425,748 5 £800,122 £712,972 £1,115,218 £1,115,218 £1,184,201 £1,047,323 £1,475,449 £1,418,399 4 £795,977 £709,278 £1,109,440 £1,109,440 £1,178,065 £1,041,896 £1,467,804 £1,411,049 3 £779,394 £694,501 £1,086,327 £1,086,327 £1,153,522 £1,020,190 £1,437,225 £1,381,652 2 £738,983 £1,093,713 £956,638 £1,376,067 £1,310,015 1 £685,513 £1,093,713 £1,409,723 #N/A £1,606,491 G B
BUILDING 08 - PHASE 1 BUILDING 08 1B2P 1B2P 1B2P 1B2P 1B2P 2B4P 2B4P 2B4P 2B4P 2B3P 3B5P 3B5P 3B5P 3B5P D 3B5P D 4B6P D 4B6P D 4B6P D 4B7P D 5B8P D Unit Area 53.9 51 51.8 54.5 63.1 77.2 77.2 77.2 72.5 69.6 94.5 88.2 89.5 108.5 104.6 137.7 137.5 119.2 117 148.1 Unit type T 01.A T 01.B T 01.C T 01.D T 01.E T 02.A T 02.A T 02.A T 02.B T 02.C T 03.A T 03.B T 03.C T 03.D T 03.E T 04.A T 04.B T 04.C T 04.D T 05.A NW / SW NE / SE NW / SW SW SE / SW NE / SE NE / NW SE / SW NE / NW NW / SW NE / SE / SW NW / SWNE / NW / SW NW / SW NE / SE NE / NW #N/A SE / SW NE / NW SE / SW 16 £892,424 £1,395,914 £1,304,593 15 £880,199 £835,519 £879,070 £1,376,792 £1,286,721 £1,684,306 14 £867,974 £823,915 £866,860 £1,357,670 £1,268,850 £1,660,912 13 £855,749 £812,311 £854,651 £1,338,548 £1,250,979 £1,637,519 12 £829,142 £738,831 £1,155,666 £1,155,666 £1,227,151 £1,085,309 £1,528,963 £1,469,843 11 £824,997 £735,137 £1,149,888 £1,149,888 £1,221,015 £1,079,882 £1,521,318 £1,462,494 10 £820,851 £731,442 £1,144,110 £1,144,110 £1,214,880 £1,074,455 £1,513,673 £1,455,145 9 £816,705 £727,748 £1,138,332 £1,138,332 £1,208,744 £1,069,029 £1,506,029 £1,447,795 8 £812,559 £724,054 £1,132,553 £1,132,553 £1,202,608 £1,063,602 £1,498,384 £1,440,446 7 £808,414 £720,360 £1,126,775 £1,126,775 £1,196,472 £1,058,176 £1,490,739 £1,433,097 6 £804,268 £716,666 £1,120,997 £1,120,997 £1,190,336 £1,052,749 £1,483,094 £1,425,748 5 £800,122 £712,972 £1,115,218 £1,115,218 £1,184,201 £1,047,323 £1,475,449 £1,418,399 4 £795,977 £709,278 £1,109,440 £1,109,440 £1,178,065 £1,041,896 £1,467,804 £1,411,049 3 £779,394 £694,501 £1,086,327 £1,086,327 £1,153,522 £1,020,190 £1,437,225 £1,381,652 2 £738,983 £673,021 £1,007,932 £1,093,713 £1,310,015 1 £644,382 £1,023,947 £1,872,840 £1,743,214 £2,132,014 0 £1,586,734 £1,872,840 £1,855,133 B
BUILDING 09 - PHASE 3 BUILDING 09 1B2P 1B2P 1B2P 1B2P 1B2P 1B2P 1B2P 1B2P 1B1P 1B1P 2B3P 2B4P 2B4P 2B4P 2B4P 2B4P 2B4P 2B4P 3B5P 3B5P 3B5P 3B5P 3B5P D Unit Area 51 51.8 53.9 54.5 50 50 50 50 37 37 69.2 72.5 77.2 77.2 70 70 70 70 88.2 89.5 94.5 86 104.6 Unit type T 01.B T 01.C T 01.A T 01.D T 01.E T 01.E T 01.E T 01.E T 01.F T 01.F T 02.C T 02.B T 02.A T 02.A T 02.E T 02.E T 02.E T 02.E T 03.B T 03.C T 03.A T 03.F T 03.E NE / SE / SW SE / SW NW / SW NW / SW SW NW / SW NE / SE NE / NW NW / SW NE / NW NW / SW SE / SW 15 £892,424 £1,395,914 £1,343,730 14 £880,199 £835,519 £852,698 £822,616 £578,896 £1,376,792 £1,325,323 13 £867,974 £823,915 £840,855 £811,190 £570,855 £1,357,670 £1,306,916 12 £855,749 £784,084 £784,084 £1,338,548 £1,288,509 £1,134,308 £1,168,337 £1,168,337 £1,134,308 £1,637,519 £1,461,009 11 £814,999 £746,746 £746,746 £1,274,807 £1,227,151 £1,080,293 £1,112,702 £1,112,702 £1,080,293 £1,559,542 £1,391,437 10 £810,924 £757,873 £743,013 £743,013 £743,013 £533,334 £549,829 £1,268,433 £1,221,015 £1,074,891 £1,107,138 £1,107,138 £1,074,891 9 £806,849 £754,064 £739,279 £739,279 £739,279 £530,654 £547,066 £1,262,059 £1,214,880 £1,069,490 £1,101,575 £1,101,575 £1,069,490 8 £802,774 £750,256 £735,545 £735,545 £735,545 £527,974 £544,303 £1,255,685 £1,208,744 £1,064,089 £1,096,011 £1,096,011 £1,064,089 7 £724,054 £731,811 £753,766 £753,766 £753,766 £541,540 £557,787 £1,132,553 £1,132,553 £1,090,448 £1,026,926 £1,026,926 £1,090,448 6 £720,360 £728,078 £749,920 £749,920 £749,920 £538,777 £554,941 £1,126,775 £1,126,775 £1,084,884 £1,021,687 £1,021,687 £1,084,884 5 £716,666 £724,344 £746,074 £746,074 £746,074 £536,014 £552,095 £1,120,997 £1,120,997 £1,079,321 £1,016,448 £1,016,448 £1,079,321 4 £712,972 £742,228 £742,228 £1,115,218 £1,115,218 £1,073,757 £1,011,208 £1,011,208 £1,073,757 £1,475,449 £1,383,019 3 £709,278 £738,383 £738,383 £1,109,440 £1,109,440 £1,068,194 £1,005,969 £1,005,969 £1,068,194 £1,467,804 £1,375,853 2 £715,980 £715,980 £1,035,785 £964,702 £964,702 £1,035,785 £1,437,225 £1,334,110 1 £1,431,750 G B
The views contained within this model are not intended as a formal valuation and should not be relied upon as such. No liability is extended to any third party and the figures suggested are given purely as guidance. All prices quoted are quoted subject to contract. The prices provided are based upon the information provided and may be subject to amendment if the information proves other than as stated or shown. The views contained within this model are not intended as a formal valuation and should not be relied upon as such. No liability is extended to any third party and the figures suggested are given purely as guidance. All prices quoted are quoted subject to contract. The prices provided are based upon the information provided and may be subject to amendment if the information proves other than as stated or shown. 5B8P D 128 T05.A
£1,716,202 3B5P D 4B6P D 4B6P D 4B6P D 4B7P D 5B8P D 108.5 119.2 137.5 136.2 137.7 148.1 T 03.D T 04.B T 04.A T 04.D T 04.C T 05.A
£1,606,491 £1,875,564
The views contained within this model are not intended as a formal valuation and should not be relied upon as such. No liability is extended to any third party and the figures suggested are given purely as guidance. All prices quoted are quoted subject to contract. The prices provided are based upon the information provided and may be subject to amendment if the information proves other than as stated or shown.
Appendix 11: Affordable Housing Valuation
Ebury Bridge Estate
Affordable Housing Value Calculations – Assumptions
November 2020
Introduction
Gerald Eve LLP (GE) has been instructed to undertake a value assessment of the affordable housing being proposed as part of the Ebury Bridge Estate regeneration. The assumptions used for each of the different tenure and product types is set out in the below sections.
The values have been calculated using Pamwin Lite, the industry standard appraisal tool for affordable housing. A combination of industry standard (default) assumptions and those required by Westminster City Council (WCC) have been applied in the calculations.
Social Rented/ Social Rented Replacement Units
The following units were modelled:
• 102 Social Rent; • 198 Social Rent Replacement.
Item £ per unit pa (unless otherwise stated)
1B2P: £112.04, 2B4P: £129.71, 3B5P: Social Rents £141.94, 4B6P: £154.61 5 Beds: c.£160 per (Replacement) week
1B2P: £145.96, 2B4P: £154.43, 3B5P: £163.12, 4B6P: £171.69, 5B9P: £180.28 per Social Rents (New) week
Discount Period 40 years
Discount Rate 5%
Management costs £650.00
Maintenance £824.00
Combined Void and Bad costs 3% of gross rents
Intermediate Rented Units
The following units were modelled:
• 65 Intermediate Rented units.
Item £ per unit pa (unless otherwise stated)
1B2P: £226.15, 2B4P: £266.15, 3B5P: Intermediate Rents £280.00 per week.
Discount Period 40 years
Discount Rate 5%
Management costs £650.00
Maintenance £824.00
Combined Void and Bad costs 2.75% of gross rents
Intermediate Ownership The following units were modelled:
• 21 Shared equity units.
As instructed, it has been assumed that these units will be delivered as Shared Equity with nil rent on the unsold equity and other standard assumptions, set out as follows: • 25% equity share for all units; • 10% deposit; • Nil rent charged on the unsold share; • Annual service charges of £2.50 psf • Mortgage interest rate of 4%, over a 25year period; • Annual household income levels of c.£28-29k for a 1 bed, £40-42 for a 2 bed, and £50k for a 3 bed, required. It is assumed that households do not spend more than 40% of their net income on housing costs including mortgage and service charges.
Page 2
Appendix 12: Deliverability Commentary
Ebury Bridge – Deliverability
The delivery of Ebury Bridge has full Council commitment in the knowledge that this will require significant contribution of Council resources to finance the overall scheme viability position. This issue has been considered at every stage of the Council approval process since, and including, OBC approval in July 2018. The Council is mindful of the need to minimise any deficit and resultant impact on Council resources, and this is one of the reasons for the phased approach to delivery. Further details, including extracts from Council reports and decisions, are set out below.
It should be noted that decisions are taken at a point in time and, as the scheme develops, there is continuous review of the financial implications for the Housing Revenue Account (HRA) (and the Council more widely) and as part of the budget and monitoring process. In addition the overall scheme deficit varies according to the delivery route being considered. Figures in Council reports, relate not only to the funding of the overall scheme deficit, but also to the specific decision being made eg in relation to direct delivery of Phase 1 by the HRA. Therefore, to avoid confusion with deficit figures quoted in the planning submission, figures have been removed from the extracts below.
However, we hope the extracts provide sufficient evidence of the Council commitment to allocate funding to ensure the scheme is deliverable.
1. Approval of OBC 9th July 2018
Extract from Ebury Bridge Cabinet Report Appendix A Financial Implications
“As outlined at Capital Review Group, the preferred option 7 identified within the OBC produces a variance from the budget included in the HRA business plan of £XX. Through a combination of amendments to the scheme and other capital schemes within the HRA, it is possible to remove the funding shortfall as outlined below.”
2. Report on Delivery Options
Cabinet Report 25th October 2018
Extract – Key Decision
“Cabinet is asked to support the findings of the initial appraisal of delivery options for Ebury Bridge estate renewal, as set out in this report, that the preferred delivery route is Council led delivery through the HRA and the Council’s housing subsidiary company”.
Extract – Financial Implications
“This paper describes the outcome of a high level appraisal of the four delivery options for the Ebury Bridge estate renewal reported to Cabinet in July. Further work is continuing to assess the risks and impact on the Council, including funding and budget requirements, risks and mitigation and sensitivity testing”. 3. Approval of Delivery of Phase 1 as HRA Self Delivery and Update on Options for Delivery of Phase 2 Statement of Decision Ref CMfFP&R/2018-2019/32, published 19th March 2018
Extract - para 2(v), (vi) & (ix)
“Approved an additional budget allocation in the Housing Revenue Account (HRA) of £XX over and above the provision within the 2019/20 HRA Business Plan to finance the Phase 1 changes set out in this report and notes that the General Fund’s existing allocation to WHIL is sufficient for Phase 1”.
“Approved the changes to the Outline Business Case (OBC), as approved in July 2018, as set out in Appendix A”.
“Noted that further work is being undertaken to develop the proposal for delivery of Ebury Phase 2”.
Extracts from Appendix A of the Report
Para 3.4 “The overall position can be compared with the July 2018 OBC position as shown in Table 3 below as well as the current approved budget within the HRA business plan. This shows that the costs of the scheme increased significantly when moving to an element of self-delivery within the approved business plan.”
Para 3.5 “The Jan 2019 figures above have been included within the approved HRA Business Plan for 2019/20. The significant increase in net costs since July 2018 is funded through a combination of savings in other budgets and additional borrowing.”
Para 5 4 “The involvement of WHIL means there is a requirement on the General Fund to provide funding for the Company. As explained above, Phase 1 funding can be provided from within allocations to the Company Business Plan but Phase 2 will require additional funding of c.£Xm.”
Appendix 13: Commercial Market Report
Ebury Bridge Market Report
1. Ebury Bridge Estate
1.1 It is intended that this market report be read in line with the Avison Young’s Ebury Bridge Road Estate Non- Residential Uses Strategy (February 2020).
Location and context
1.2 Ebury Bridge Estate (“Ebury Bridge”) is situated in the London borough of Westminster, 0.5 miles south of Victoria Station.
1.3 Ebury Bridge sits in a residential context with Grosvenor Waterside and the new Chelsea Barracks development to the south complementing a wider series of established neighbourhoods. To the north, along Buckingham Palace Road is Victoria Coach Station, Victoria Palace Shopping Centre and Victoria Station. To the west is Pimlico Road, Sloane Square Underground station and the retail uses along the Kings Road. To the east of Ebury Bridge are the railway sidings and the rail corridor approach to Victoria station.
1.4 The current Ebury Bridge Estate is scheduled for complete demolition and redevelopment. A new local centre within the development will replace the existing retail parade, which fronts Ebury Bridge Road. The existing retail parade comprises 18 individual retail units, arranged as 14 retail spaces. Each individual unit is small in size, c.40 sqm (c.430 sqft) on average excluding the basement storage and WCs. The current tenants and accommodation schedule is set out in Table 1.
Table 1: Current accommodation schedule Occupant Unit size Unit size Unit No. Business type Business name description Sqft Sqm Longstanding 3 Estate/letting agents 400 37 Property services Fixed Term 5 Fine art restorer 489 45 Fine Art Restoration Company Fixed term 7 Colour Bar 552 51 Hair Prive salon Temp 9 Office 504 47 The Ebury Studio (WCC) Longstanding 11-13 Café 878 82 Ideal café Temp 15-19 Office 1,534 142 Ebury Regeneration base (WCC) Longstanding 21 Dry Cleaners 423 39 Choice Specialist Dry Cleaners Longstanding 23 Newsagents 471 44 Ebury news Fixed term 25 Bridal/evening dresses 542 50 Leonora Couture Longstanding 27 Party Shop 504 47 Occasions Party Shop Longstanding 29-31 Chemist 835 78 Greens Pharmacy Longstanding 33 Hairdressers 512 48 Mauro Sergio Fixed Term 35 Greengrocer 490 45 Marlow Green Organic Greengrocers Fixed Term 37 Milliner 412 38 Iain Bennett Millenary Source: Westminster City Council, 2019
Date: 23rd November 2020 Page: 1 Heading: Ebury Bridge Market Report
Defining the potential mix of uses and activities
1.5 The Ebury Bridge Road Estate Non-Residential Uses Strategy (February 2020) provides an evidenced-based rationale that seeks to inform the potential mix of uses to be provided in the new Ebury Bridge local centre. As set out in the study, there are key factors which shape the demand for the mix of uses, these include:-
• The current market dynamics;
• The surrounding competing/comparable retail, food and beverage, convenience and, leisure and cultural offer;
• The current and future audience (catchment), and;
• The proposed offer within the development pipeline of new schemes.
1.6 To summarise the findings from the study, the analysis identified that the proposed Ebury Bridge local centre should aim to create a new offer that is distinct from neighbouring provision, but aiming for quality independent and emerging retail and leisure concepts that will both support the immediate new and mixed residential offer, but also invite and encourage interaction with the existing and new occupiers surrounding Ebury Bridge Road.
1.7 A range of uses could be attracted and suitable for the new local centre, as set out in Table 2.
Table 2: Potential future activities
Use Class Types of uses
• Florist • Gifts and Greeting Cards A1 • Wine Merchants • Artisan Bakery • Deli/grocery • Male Barbers A2 • Dry Cleaning/Alterations/Shoe Repairs • Estate Agents • Artisan Coffee A3 • Good quality restaurant with bar • Bike shop café
B1 • Workspace • Nursery • Pharmacy D1 • Medical – Dentistry/Physio’/Alternative therapies • Beauticians D2 • Health and Fitness/Yoga
1.8 There are clear overlaps in the potential mix of uses identified with some activities already present within Ebury Bridge. Notwithstanding, longstanding retailers have the ‘right of first refusal’ to a new unit on Ebury Bridge – a key consideration for the proposed potential mix of uses.
Design and spatial consideration
1.9 Good principles of design have been factored into the thinking of the configuration for the new retail parade, to ensure the non-residential spaces are desirable and commercially attractive to occupiers. Therefore considerations such as, good flexible sized units, back of house provision, maintaining active frontages and consistent frontages have been factored into design of the new retail parade.
Date: 23rd November 2020 Page: 2 Heading: Ebury Bridge Market Report
1.10 As a part of this, there has been a thought towards where there may be advantageous positioning of certain uses grouped together along the retail parade – driven by an understanding of the immediate context and existing provision along Ebury Bridge Road. It is understood that this could create a more attractive and interesting offer, and drive footfall to specific locations in the new estate.
1.11 There are three areas of opportunity to focus on the delivery of non-residential uses within the new estate;
• Retail frontage facing Ebury Bridge Road • Northern Gateway • Southern Gateway
1.12 Greater detail can be found in the Non-residential Uses Strategy (February 2020). To summarise, the strongest location for retail activity will remain Ebury Bridge Road. Units located here can benefit most from passing trade and as such will prove more attractive to occupiers and achieve stronger values and covenants.
1.13 For the Northern Gateway, there is clear opportunity for a workspace and café offer. The position of the workspace offer here would maximise the linkages and visibility of business space from the established commercial office cluster along Buckingham Palace Road, which starts on the opposite corner of the Ebury Bridge/Buckingham Palace Road junction with ENI House.
1.14 The Southern Gateway will be a much lower profile part of the estate, with less direct visibility from Ebury Bridge Road or Ebury Bridge itself. As such any non-residential uses that are brought forwards in this area will need to form a destination in their own right. With lower commercial potential this location also offers an opportunity to provide uses focussed on meeting community and leisure needs that do not need prime frontages. A gym facility, healthy café and a Nursery may be best suited in this location.
Optimum mix
1.15 Based on the analysis, the optimum mix and accommodation schedule is set out Table 3 below.
Table 3: Optimum mix
Unit Ground Floor sqm Basement sqm Potential occupier
R1 216 0 Convenience Pharmacy R2 76 0 Barber
R3 76 45.5 Hair dresser Newsagent R4 54 35 Café R5 201 134 Wine Bar
R6 201 134 Restaurant Dry Cleaning R7 54 35 Hardware Party shop R8 76 45.5 Dentist Estate Agent R9 76 0 Physio/Beauty Café R10 137 0 Interiors Bridal shop * Green denotes the longstanding tenants. Source: Westminster City Council, 2020
Date: 23rd November 2020 Page: 3 Heading: Ebury Bridge Market Report
1.16 The new retail parade will deliver larger units (10 in total) across four buildings, fronting the Ebury Bridge Road.
1.17 For the Northern Gateway and Southern Gateway, the proposed floorspace is summarised below.
Table 4: Northern and Southern Gateway
Potential use Sqm
Northern Gateway Café & Workspace 343
Southern Gateway Retail (café) 128
Southern Gateway Gym 331
Southern Gateway Nursery 450 Source: Westminster City Council, 2020
1.18 The positioning of the uses across the estate is shown in Figure 1.
Figure 1: Ebury Bridge Ground and First Floor Plans
Source: Westminster City Council, 2020
Date: 23rd November 2020 Page: 4 Heading: Ebury Bridge Market Report
2. Market outlook
Retail and leisure National Market Overview
2.1 Covid-19 will exacerbate the structural challenges faced by the retail and leisure market, despite the exceptional measures to mitigate impact. The Centre for Retail Research estimated over 143,000 jobs losses in 2019 as a result of more than 16,000 stores closing. Unfortunately 2020 is unlikely to be any better for the retail market as the CRR suggests that over 20,000 stores may not reopen when government restrictions have been lifted. Reflecting the difficult conditions (even pre-Covid), average retail rental values fell by -4.7% in 2019, down from -2.6% in 2018 (MSCI Monthly Index).
2.2 The leisure industry has suffered similar setbacks, with lockdown forcing temporary closure of gyms, cinemas, stadia, music venues and many other leisure operators. As the Covid-19 response progresses from containment to the unlocking phase, the outlook for the remainder of the year remains highly uncertain, with operation remaining well below capacity. Moreover, 2021 will not be without challenges as a weak macro-economic outlook is likely to squeeze consumer spend.
2.3 Top achievable prime retail rents across most UK towns and cities have been marked down significantly in recent quarters, reflecting the wider malaise impacting the UK retail sector as a consequence of both the diversion of retail sales to online and the combined impact of both rising costs and the pressure to discount on retailer profitability. These issues are particularly acute for those retailers burdened with legacy store portfolios and debt and this is clearly evident in the number of store closures resulting from corporate failure, CVAs and rationalisation programmes that are impacting the retail sector.
2.4 The outlook for prime retail rents has undoubtedly weakened further given the impact of the response to the Covid-19 pandemic on the wider retail and leisure sector. Indeed, PMA expect a decline in prime town centre rents over the course of 2020 of around -13% on average across the PROMIS 200 towns.
2.5 All-property equivalent yields have edged up to 6% amid weak economic outlook and stress in the retail property sector. Consequently, all-property average capital value growth fell further negative to -3.0% in the year to December (MSCI Monthly Index), down from 2.1% a year earlier.
2.6 There had already been an adverse shift in investor sentiment towards the UK retail sector prior to the hiatus caused by the response to the Covid-19 pandemic as the market reacted to the growing evidence of downward pressure on retail rents as a direct consequence of the impact of online retail and rising operating costs on retailer profitability. This was clearly evident in the recent outward movement in prime unit shop and shopping centre yields, albeit within the context of a much reduced level of retail investment activity.
2.7 Longer term, the changes that businesses, government and individuals will implement during the Covid-19 crisis will accelerate some trends already evident in the market, including de-globalisation of supply chains and a shift towards online retail.
2.8 Given that the response to the Covid-19 pandemic required the halting of most non-essential construction projects for several weeks, we expect a delay to the commencement and completion of any active retail and leisure developments.
Date: 23rd November 2020 Page: 5 Heading: Ebury Bridge Market Report
Retail and leisure Local Market Overview
2.9 Retail floorspace in the vicinity of Ebury Bridge is book-ended by the nodes of Sloane Square, anchored by the Peter Jones Department Store (John Lewis Partnership), and Victoria Station. Cardinal Place Shopping Centre (owned by Land Securities) provides the only purpose built shopping centre in the locale. London Victoria is the UK’s second busiest station, representing a major transport gateway to the South East, as well as internationally via Gatwick Airport. Further investment around Victoria Station is planned by Westminster City Council, TfL, the GLA and the Victoria Business Improvement District, to develop a masterplan for the Victoria area. The ‘Future Victoria’ masterplan seeks to look at the area as a whole; this includes improving the station and interchange and the overall quality of the area delivering a mix of use of commercial, housing, and maintaining public realm. In due course Battersea Power Station will also become a significant retail destination. Ebury Bridge sits in-between these three retail destinations.
2.10 As a consequence of the above, Ebury Bridge is, and will remain, essentially a location catering for its immediate catchment, providing stores and services convenient for local residents. Whilst the national multiples present in Kings Road and Victoria will undoubtedly suffer as a result of Covid-19, there is a distinct shift in more residents consuming local goods and services in all the London Boroughs as the population adheres to the government directive to work from home were possible. The increase in time available to workers as a result of not having to commute will almost certainly be spent with families and using local leisure and retail amenities. London’s towns and villages will benefit from the increase people working from home to the detriment of the West End and the City of London.
2.11 The existing leisure provision within the broader area is fairly strong with a large variety of uses ranging from libraries, playgrounds, gyms, venue halls, museums and more. The provision caters to a range of audiences with attractions/facilities such as Buckingham Palace, Manor Gym, The Tate Britain and Cadogan Hall. Despite relatively high levels of affluence in the broader area, there are still a large number of free entry leisure facilities such as Victoria Library, Westminster Music Library, KIDS Chelsea Adventure Playground, Tate Britain and The Queens Gallery. However, in line with some of the retail-specific points made above, most of these attractions are focussed to the North of Ebury Bridge Road, and there appears to be very little provided within the immediate vicinity of the Ebury Bridge.
2.12 Due to the lack of stewardship to the Ebury Bridge Road retail space, awaiting the intended development, there has been a transient retail offer which has been detrimental to footfall and tenant mix. Consequently rental evidence is not instructive, however it is worth noting that the Valuation Office (for the purpose of calculating 2017 rateable values) suggest a Zone A tone of £33 which is in keeping with our view of this type of local parade.
2.13 It should also be noted that there are no purpose built car parks in the vicinity and very little on-street parking available so visits from car borne non-residents are not easy to accommodate.
2.14 The key competitor for retail tenants will be the Chelsea Barracks scheme, although it is expected that their tenant (and rental) aspirations will be focused on catering for the predominantly wealthy demographic of their residents.
2.15 Whilst we think there will be an increased focus on local shopping and leisure post-Covid, we do not envisage that translating into rental growth due to the increased use of internet services (especially hot food and
Date: 23rd November 2020 Page: 6 Heading: Ebury Bridge Market Report
grocery delivery), the issues with Brexit and the inevitable job losses and economic downturn resulting from the Covid pandemic.
Office National Market Overview
2.16 Across the UK, the office sector is currently experiencing a dynamic shift in the demand from traditional office space to smaller, more flexible workspace. Workspace is an umbrella term which is used interchangeably to describe a number of different typologies and operating models. For clarity in this report, we have defined workspace as commercial space which is let on flexible lease terms, and/ or primary aim is to provide commercial space for micro and small businesses.
2.17 Much like the retail sector, the office sector has had to adapt to the disruption caused by technology. There is a growing requirement for a more flexible approach to providing office space as technological advances drive rapid change in the way individuals work and the ways in which businesses are organised. Therefore, there has been a decline in the demand for traditional, large floorplate offices, and a rise in the demand for workspace.
2.18 Covid-19 has had an unprecedented impact on the office market, leaving vast amounts of office space unused. Given the current climate, it seems inevitable that companies will take the opportunity to reassess their property holdings and working practices. The accelerated move towards agile working will manifest itself in various ways, and there is little doubt that working from home will become a key feature moving forward. However, this will not be the whole picture. There will likely always be a need for face-to-face meetings, collaboration and team building in the post-Covid world. Flexible workspace operators who can survive the near-term pain will be well placed to capitalise on the newly-agile workforce when the economy rebounds.
2.19 Growth in London co-working spaces have increased tenfold in recent years, with these spaces emerging as a significant component of the office market in response to global and London-specific trends. Moreover, creative industries and in particular the digital technology sector have grown in the capital, creating new clusters of activity and greater tech entrepreneurialism that requires flexible space. However, the rise in demand has created a surge in workspace prices and this has been exacerbated by the recent policy changes (permitted development rights) negatively impacting the potential future supply of viable workspace opportunities. These changes could have serious implications for small businesses, artists and charities that use open workspaces.
Office Local Market Overview
2.20 Office supply in Victoria is very restricted with vacancy rates of 2.6%, which is reflective of the wider West End market as a whole. There is a particular shortage of high-quality Grade A office space with larger floor plates, and accommodation of this nature is in high demand. Victoria is seen as a discount to the traditional West End markets which drives demand. Demand originates from a range of occupiers, with a substantial proportion from Business and Financial services and still a strong Government presence given its proximity to Westminster. There is also a tech presence and hence the occupier mix in the wider area is extremely diverse.
2.21 Although headline rents in Victoria have been stagnant at £77.50 per sqft since Q1 2017 and have not increased since Q3 2015, the exceptionally low availability combined with the absence of near-term developments suggests that demand will outstrip supply, pushing future rental growth in the submarket.
Date: 23rd November 2020 Page: 7 Heading: Ebury Bridge Market Report
Incentives have also remained level during this period, with landlords offering 24 months’ rent free on a standard 10 year lease, giving a net effective rent of £62.00 per sqft
2.22 In keeping with other use types, the prime and most desirable areas are to the north of Victoria station, illustrated by the success of Nova. The highest rents within the local market area are achieved in this location and get even higher still along Victoria Street and towards St James Park. Moving south along Buckingham Palace Road, whilst still a desirable office location, the public realm is less attractive and rents are slightly lower as a result. The National Audit Office represents the cut off in terms of good office locations and beyond this building to the south and closer to Ebury Bridge Road is considered ‘off pitch’. Wilton Road and Vauxhall Bridge Road are under-utilised, due to its reduced footfall when compared to the front of station environment.
2.23 In terms of more agile working practices, the local offer includes, but is not limited to, art and design studio space, affordable office space, shared kitchen spaces, corporate and coworking office options, and community spaces. Generally, the immediate area is well populated with coworking options, with the higher- end spaces occupying the area within the close vicinity of Victoria station.
3. Comparable market data
3.1 The following section sets out the recent market evidence for the non-residential uses (retail, nursery, gym and workspace).
Retail
3.2 A summary of recent retail lettings and sales in the vicinity of Ebury Bridge Road is provided in Table 5 and Table 6.
Table 5: Recent retail lettings (all SW1) Address Start Date Floor Total SF Leased £psf Rent PA Terms 101 Lupus St Mar ‘19 GRND/ BSMT 504/ 295 £54 ZA £25,000 20 yr lease o/s Act 107 Lupus St Oct ‘19 GRND/ BSMT 522/ 352 £57 ZA £27,000 10 yr lease 5 yr TOB 95 Charlwood St May ‘19 GRND 493 £41 ZA £19,000 10 yrs 2 Gatliff Rd Apr ‘16 GRND 2,120 £25/sqft £52,233 10 year lease (café) 198 Ebury St Jul ‘19 GRND/ BSMT 732/ 511 £112 ZA £75,000 10 yrs o/s Act 200 Ebury St Apr ‘19 GRND 721/ 548 £148 ZA £85,000 10 yrs o/s Act 44 Pimlico Rd Jul ‘18 GRND 785/ 468 £199 ZA £102,000 10 yrs o/s Act Source: Costar, 2020
Table 6: Recent retail sales Address Date Sale Price Total SF Sold £PSF Net Initial Yield (%) 324 Kennington Lane SE11 Dec ‘19 £925,000 980 sqft £943 6.04% 57 St Johns Wood High St NW8 Sept ‘19 £4.275m 1,197 sqft £3,571 5.59% 28 Churton Street SW1 March ‘20 £2m 3,175 sqft £629 3.68% (mixed use) 3 Homer Street W1 Oct ‘19 £2m 858 sqft £2,331 4.72% 3 Monk Street SW1 Nov ‘19 £700,000 667 sqft £1,049 VP 67 Kings Road SW3 July ‘19 £3.775m 1,264 sqft £2,986 3.75% Source: Costar, 2020
Date: 23rd November 2020 Page: 8 Heading: Ebury Bridge Market Report
Nursery
3.3 A summary of recent lettings for non-residential institutions (D1 use class) in the vicinity of Ebury Bridge Road is provided in Table 7.
Table 7: Recent D1 lettings Address Start Date Floor Total SF £psf Rent PA Terms
3 Foulis Terrace SW7 March ‘20 BSMT 3,564 £35 £125,000 10 yr lease (Nursery)
204 Kennington Lane SE1 Oct ‘17 GRND 785 £19 £15,000 10 yr lease (Medical)
13 Radnor Walk SW5 May ‘18 GRND 4,593 £55 £248,000 10 yr lease (Medical) Source: Costar, 2020
3.4 We have not been able to substantiate recent sales of D1 uses.
Gym
3.5 A summary of recent lettings and sales for leisure uses (D2 use class) is provided in Table 8 and Table 9. This takes into consideration transactions which have occurred in the vicinity of Ebury Bridge and in comparable locations to the west (Hammersmith and Fulham).
Table 8: Recent Health and Fitness lettings Start Address Floor Total SF Rent psf Rent PA Term Tenant Date Homestead Rd Dec ‘19 GRND 1,290 £28.00 £36,120 10 yrs House of Yoga 38-40 Vanston Pl May ‘19 BSMT,GRND 13,799 £31.93 £440,628 25 yrs Pure Gym 23 Pavilion Rd July ‘18 LL 4,774 £52.37 £250,000 10 yrs Core Collective 132 Wandsworth Bridge Rd Dec ‘18 BSMT 4,234 £16.53 £70,000 unknown Body Society 32 Gatliff Rd May ‘17 GRND 2,045 £34 £70,000 10 yrs Total Fit Source: Costar, 2020
Table 9: Recent Health and Fitness sales
Address Date Sale Price Total SF Sold £PSF Reversionary Yield (%) 324 Kennington Lane SE11 Nov ‘18 £4,250,000 8,419 sqft £504 4.7% Source: Costar, 2020
Workspace
3.6 As we have set out, there is an opportunity to consider a workspace offer in the Northern Gateway building. To understand the potential value of this use, we have relied on the information provided to us by our West End Agency team as market comparables may not provide the best indications of likely values. Our assessment identifies that the as the space is fronting onto Ebury Bridge and is effectively a ground floor suite, the likely rent will be c.£35 psf. The factor driving the low rent is the size of the unit, which is too small to appeal to a major shared office provider and would more likely be a boutique provider. The serviced office provider would take on as shell and core and fit out to suit their target market.
3.7 If letting directly as an office suite, then a Cat A fit out should be considered, but given the size it might even be a fully fitted and ready to go office. Regardless, leases are now very flexible at likely a 5 year term with a tenant break option at year 3. It should be noted that this sets a more traditional office view, and workspace
Date: 23rd November 2020 Page: 9 Heading: Ebury Bridge Market Report
may preform differently. The outcome of the Soft Market Testing due to be conducted in July 2020 will inform a wider view of values.
4. Recommended values
4.1 In line with the market evidence, the design and layout of the units, and our Agents’ perspective of the proposed scheme, the following rental values would be applicable.
Table 10: Recommended values
Area Price per sqft (£) Price per sqm (£)
Zone A Retail £45-50 £484 - £538
Retail basements £5 £54 A3/A4 ground floor £30 £323
A3/A4 basements (aligned to the back of house) £15 £161
D1 Nursery £22.50 £236
D2 Health and Fitness £22.50 £236
A1 Café £25 £262
4.2 Given the nature of design and shape of certain units within the new retail parade, specifically units R2, R3, R8 and R9, it may be prudent to assume a discount of c.10% on the recommended Zone A rent set out in Table 10. Our Agents advise that this would be a sensible approach to determine the likely achieved values for these units.
4.3 In terms of yields, we have sought to provide a recommendation based on the investment potential of the development as a whole and likely mix of “commercial” uses. Based on the understanding that the majority of the future tenants will be independent businesses, with potentially better multiple covenants on the gym, nursery and perhaps the restaurant - the location and London effect would attract a yield of 6% / 6.5% if it came to the market as an investment.
Date: 23rd November 2020 Page: 10
Appendix 14: Construction Cost Plan
EBURY BRIDGE ESTATE - PHASE 1 (BUILDINGS 7 & 8) STAGE 3 COST PLAN - Value Engineering Westminster City Council
20-May-20
Form No: GTF3080 Issue No: 1 Date: 06/19 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
CONTROL ISSUE SHEET
Prepared By Authorised By Revision Status (name/position/date) (name/position/date) Lee Usher - Partner/ Lee Usher - Partner/ Draft (1) Stage 3 Alexandra Lace - Partner | Alexandra Lace - Partner | 16 March 2020 16 March 2020 Lee Usher - Partner/ Lee Usher - Partner/ Draft (2) Stage 3 Alexandra Lace - Partner | Alexandra Lace - Partner | 23 March 2020 23 March 2020 Lee Usher - Partner/ 27 Lee Usher - Partner/ 27 Draft (3) Stage 3 March 2020 March 2020 Tareq Moneeb - Senior Lee Usher - Partner / 20 Draft (4) Stage 3 VE Update Associate / 20 May 2020 May 2020
2 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
CONTENTS
1 Executive Summary
2 Construction Cost Summary
3 Schedule of Areas
4 Basis of Estimate, Assumptions and Exclusions
5 Estimate Breakdown - Block 7
6 Estimate Breakdown - Block 8
Appendices: Appendix A: Site Infrastructure Works Estimate Breakdown Appendix B: MEPH Estimate Breakdown Appendix C: Landscaping Estimate Breakdown Appendix D: Fit Out Estimate Breakdown - Private Appendix E: Fit Out Estimate Breakdown - Affordable Appendix F: Reconciliation
3 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXECUTIVE SUMMARY - RESIDENTIAL
1. COST SUMMARY 3. KEY HEADLINES
Description GIA m² GIA ft² Building 7 37,241,000 1,468 136 Affordable fit out has increased due Building 8 36,639,900 1,444 134 The cost plan includesfor the Value to slight enhancement on interior Energy Centre 5,640,000 102 9 Engineering exercise finishes Public Realm 2,591,000 222 21 Sub-Total 82,111,900 3,237 301 Main Contractor Preliminaries 12,980,000 512 48 Main Contractor OH&P 4,279,136 169 16 Main Contractor Risk Allowance 1,987,421 78 7 Construction Risk Allowance 5,067,923 200 19 Main Contractor preliminaries have Inflation 2,004,807 79 7 Typical upper and typical lower GA's been included on a weekly rate based EHV Cable Diversion 2,500,000 99 9 have been remeasured for new on D&B Stage 1 tender process to Total (Construction Cost) 110,931,186 4,373 406 drawings allow for Stage 2 negotiation
2. AREAS 4. COST MOVEMENT - NIA GIA NIA:GIA Previous Report This report Variance £ (Total) 116,670,000 110,931,186 (5,738,814) £/m² (GIA) 4,556 4,373 (183) £/ft² (GIA) 423 406 (17)
This Report 16,832 25,369 66%
Previous Report 16,886 25,549 66%
4 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXECUTIVE SUMMARY
This Cost Plan has been based upon design information prepared by astudio Phase 1 (architectural), Arup (engineering disciplines) and Levitt Bernstein (Landscaping) for CLIENT / DEVELOPMENT COST Total (£) £/m² GIA Westminster City Council. The Cost Plan has been updated to include for the Vale Engineer addendum. 1 Building 7 37,241,000 1,468
The report provides an estimate of cost for Phase 1 of the redevelopment works at 2 Building 8 36,639,900 1,444 Ebury Bridge Estate, to provide Community and residential accommodation and associated public realm works. 3 Energy Centre 5,640,000 222
The Cost Plan includes for 226nr apartments as set out in the astudio Unit Mix 4 External Works/ Public Realm 2,591,000 102 Rev T. The Masterplan Unit Mix Comprises 758 nr units Sub Total 82,111,900 3,237 112nr apartments in Building 7 and 114nr Apartments in Building 8. 5 Pre-Construction Services fee Excl. 6 Main Contractor’s Preliminaries 15.8% 12,980,000 512 7 Main Contractor’s Overheads and Profit 4.5% 4,279,136 169 The current programme based on G&T PM Master Programme Rev N for Phase 1 is 8 Main Contractor Risk 2.0% 1,987,421 78 start on site 2Q 2021 (19.5.2021) with completion 3Q 2023 (4.7.2023). The Cost Sub Total 101,358,456 3,995 Plan has been priced at current day and inflation has been included to start on site and then to mid-point construction using G&T TPI forecast 4Q 2019. 9 Construction Risk Allowance 5.0% 5,067,923 200 Sub Total 106,426,379 4,195 The Main Contractor Preliminaries allowance is 15.8% of construction costs and 10 Inflation Estimate - to Start on Site 0.0% - - this has been based on the tender returns that have been received as part of the 11 Inflation Estimate - to Mid-Point 1.9% 2,004,807 79 Stage 1 D&B Contractor tender process allowing for some adjustment during the second stage negotiations and equates to £59,000 per week per building. 12 EHV Cable Diversion (UKPN) 2,500,000 99 The Main Contractor D&B Risk allowance has been set at 2% based on the D&B Total Estimated Development Cost 110,931,186 4,373 Stage 1 tender returns and what we typically experience in the market n a project of this nature. Contractor Risk allowance will be firmed up as part of the Second Stage negotiations. The Cost Plan also includes a Construction Risk Allowance of ESTIMATED ROUNDED DEVELOPMENT COST £ 110,930,000 4,373 5%, which will be Client maintained for unforeseen construction risk.
5 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
CONSTRUCTION COST SUMMARY Block 7 Block 8 CONSTRUCTION COST Total (£) £/m² GIA £/sq ft GIA % Total (£) £/m² GIA £/sq ft GIA % 0 Site Infrastructure Works 875,000 69 6.45 1.7% 850,000 67 6.18 1.7% 1 Substructure/ Basement 4,271,000 339 31.49 8.3% 4,704,800 368 34.23 9.3% 2 Structural Frame, Upper Floors and Stairs 4,536,000 360 33.45 8.8% 4,383,500 343 31.89 8.7% 3 External Walls, Windows and Doors 9,700,000 770 71.53 18.9% 9,819,600 769 71.44 19.4% 4 Roofs and Terrace Finishes 1,223,900 97 9.02 2.4% 1,227,500 96 8.93 2.4% 5 Internal Partitions and Doors 1,688,000 134 12.45 3.3% 1,466,400 115 10.67 2.9% 6 Internal Finishes 862,800 68 6.36 1.7% 763,600 60 5.56 1.5% 7 Fittings 390,000 31 2.88 0.8% 290,000 23 2.11 0.6% 8 MEPH Services Installation and Lifts 4,559,000 362 33.62 8.9% 4,378,200 343 31.85 8.6% Sub Total - Shell & Core 28,105,700 2,231 207.25 54.8% 27,883,600 2,184 202.86 55.0% 9 Fit Out - Private 4,709,800 374 34.73 9.2% 1,491,300 117 10.85 2.9% 10 Fit Out - Affordable 4,425,900 351 32.64 8.6% 7,265,000 569 52.85 14.3% Sub Total - Shell & Core + Fit Out 37,241,400 2,956 274.61 72.5% 36,639,900 2,869 266.56 72.3% 11 External Works & Public Realm 1,287,000 102 9.49 2.7% 1,304,000 102 9.49 2.6% Sub Total - Building Works 38,528,400 3,058 284.10 75.1% 37,943,900 2,971 276.05 74.9% 12 Preconstruction Services fee Excl. ------0.0% Main Contractor’s Preliminaries - 110 Weeks 13 6,490,000 515 47.86 12.6% 6,490,000 508 47.22 12.8% @ £59,000 per week per building 14 Main Contractor’s Overheads and Profit 4.5% 2,026,000 161 14.94 3.9% 2,000,000 157 14.55 3.9% 15 Main Contractor Risk 2.0% 941,000 75 6.94 1.8% 929,000 73 6.76 1.8% Total - Building Works 47,985,400 3,809 353.84 93% 47,362,900 3,709 344.57 93.5% 16 Construction Risk Allowance 5.0% 2,399,000 190 17.69 4.7% 2,368,000 185 17.23 4.7% Sub Total 50,384,400 3,999 371.53 98.2% 49,730,900 3,894 361.80 98.2% 17 Inflation Estimate - to Start on Site - Incl. 0.0% - - - 0.0% - - - 0.0% 18 Inflation Estimate - to Mid-Point 1.9% 949,000 75 7.00 1.9% 937,000 73 6.82 1.8% Total Estimated Construction Cost 51,333,000 4,074 378.52 100.0% 50,668,000 3,968 368.62 100.0% ESTIMATED ROUNDED CONSTRUCTION COST £ 51,330,000 4,074 378.50 100.0% 50,670,000 3,968 368.63 100.0%
6 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SCHEDULE OF AREAS
BLOCK 7 Level GEA GIA Circulation Plant Lobby Amenity Hub Parking BOH Net Lettable Area Net to Gross 2 2 2 2 2 2 2 2 2 2 m m m m m m² m m m Resi m Retail m Efficiency B1 1,042 868 286 497 85 0 0 0.0% 00 1,137 1,104 206 234 15 42 237 189 181 0 0 0.0% 01 851 771 269 502 0 65.1% 02 784 730 344 386 0 52.9% 03 785 724 134 590 0 81.5% 04 785 724 134 590 0 81.5% 05 785 724 134 590 0 81.5% 06 785 724 134 590 0 81.5% 07 785 724 134 590 0 81.5% 08 785 724 134 590 0 81.5% 09 785 724 134 590 0 81.5% 10 785 724 134 590 0 81.5% 11 785 724 134 590 0 81.5% 12 581 522 105 417 0 79.9% 13 581 522 105 417 0 79.9% 14 581 522 105 417 0 79.9% 15 581 522 105 417 0 79.9% 16 581 522 105 417 0 79.9% Total 13,784 12,599 2,836 731 15 42 237 189 266 8,283 0 65.74%
7 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SCHEDULE OF AREAS
BLOCK 8 Level GEA GIA Circulation Plant Lobby Amenity Hub Parking BOH Net Lettable Area Net to Gross 2 2 2 2 2 2 2 2 2 2 m m m m m m² m m m Resi m Retail m Efficiency B1 1,110 985 249 609 127 0 0 0.0% 00 1,204 1,171 124 195 59 60 327 160 246 0 21.0% 01 804 750 35 715 0 95.3% 02 783 730 511 219 0 30.0% 03 783 724 134 590 0 81.5% 04 783 724 134 590 0 81.5% 05 783 724 134 590 0 81.5% 06 783 724 134 590 0 81.5% 07 783 724 134 590 0 81.5% 08 783 724 134 590 0 81.5% 09 783 724 134 590 0 81.5% 10 783 724 134 590 0 81.5% 11 783 724 134 590 0 81.5% 12 783 724 134 590 0 81.5% 13 582 522 105 417 0 79.9% 14 582 522 105 417 0 79.9% 15 582 522 105 417 0 79.9% 16 369 328 110 218 0 66.5% Total 13,846 12,770 2,684 804 59 60 0 327 287 8,549 0 66.95%
Total 27,630 25,369 5,520 1,535 74 102 237 516 553 16,832 0 66.35%
Envelope Area m2 8,250
8 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Architectural - astudio 28.2.2020
Apartment Plan Atlas 28.2.2020 EBE-AST-XX-XX-DR-A-060000
Building 8 Core Plans 28.2.2020 EBE-AST-XX-XX-DR-A-030701
Building 7 Core Plans 28.2.2020 EBE-AST-XX-XX-DR-A-030700
Building 8 Plant Level 28.2.2020 EBE-AST-XX-XX-DR-A-030486
Buiding 8 Typical Upper Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030485
Building 8 Typical Lower Floor and L13 Terrace 28.2.2020 EBE-AST-XX-XX-DR-A-030484
Building 7 Typical Upper and Plant Level Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030475
Building 7 Typical Lower and Floor 12 Terrace Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030474
Phase 1 Roof Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030115
Phase 1 Level 02 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030112
Phase 1 Level 01 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030111
Phase 1 Ground Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030110
Phase 1 Basement Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030109
Building 7 Cross and Long Sections 28.2.2020 EBE-AST-XX-XX-DR-A-030300
Interior Finishes - Affordable Homes 28.2.2020 EBE-AST-XX-XX-DR-A-000500
9 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Interior Finishes - Private Homes 28.2.2020 EBE-AST-XX-XX-DR-A-000501
Interior Finishes - Communal Areas 28.2.2020 EBE-AST-XX-XX-DR-A-000502
Masterplan Ground and First Floor 28.2.2020 EBE-AST-XX-XX-DR-A-030010
Masterplan Basement 28.2.2020 EBE-AST-XX-XX-DR-A-030009
Bay Study Typical Town Square Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070211
Bay Study Typical Duplex Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070204
Bay Study Typical Louvered Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070203 Bay Study B08 Residential Entrance 28.2.2020 EBE-AST-XX-XX-DR-A-070202 Bay Study Central Hub Entrance 28.2.2020 EBE-AST-XX-XX-DR-A-070201
Bay Study Axonometric View West 28.2.2020 EBE-AST-XX-XX-DR-A-070000
Bathroom Types 28.2.2020 EBE-AST-XX-XX-DR-A-060900
Section Typical Lower Floor Apartment 28.2.2020 EBE-AST-XX-XX-DR-A-060201
Section Duplex Apartment and Garden 28.2.2020 EBE-AST-XX-XX-DR-A-060200
B7 and B8 Typical Lower and Upper RCPs 28.2.2020 EBE-AST-XX-XX-DR-A-060102
B8 Ground and First Floor RCPs 28.2.2020 EBE-AST-XX-XX-DR-A-060101
5B Apartments Type 05.A 28.2.2020 EBE-AST-XX-XX-DR-A-060050
10 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. 4B Apartments Type 04.D 28.2.2020 EBE-AST-XX-XX-DR-A-060042
4B Apartments Type 04.B, 04.C 28.2.2020 EBE-AST-XX-XX-DR-A-060041
4B Apartments Type 04.A 28.2.2020 EBE-AST-XX-XX-DR-A-060040 3B Apartments Types 03.D, 03.E 28.2.2020 EBE-AST-XX-XX-DR-A-060033 3B Apartments Types 03.C 28.2.2020 EBE-AST-XX-XX-DR-A-060032
3B Apartments Types 03.B 28.2.2020 EBE-AST-XX-XX-DR-A-060031
3B Apartments Types 03.A 28.2.2020 EBE-AST-XX-XX-DR-A-060030
2B Apartments Type 02.B, 02.C 28.2.2020 EBE-AST-XX-XX-DR-A-060021
2B Apartments Type 02.A 28.2.2020 EBE-AST-XX-XX-DR-A-060020
1B Apartments Type 01.B, 01.C, 01.D, 01.E 28.2.2020 EBE-AST-XX-XX-DR-A-060011
1B Apartments Type 01.A 28.2.2020 EBE-AST-XX-XX-DR-A-060010
Building 7 and 8 Roof Section 28.2.2020 EBE-AST-XX-XX-DR-A-030820
Building 7 and 8 Stair Typical Conditions 28.2.2020 EBE-AST-XX-XX-DR-A-030711
Building 7 and 8 Stair Section and Axonometrics 28.2.2020 EBE-AST-XX-XX-DR-A-030710
Building 8 Roof Axonometric 28.2.2020 EBE-AST-XX-XX-DR-A-030603
Building 7 Roof Axonometric 28.2.2020 EBE-AST-XX-XX-DR-A-030602
11 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. South West Elevation 28.2.2020 EBE-AST-XX-XX-DR-A-030201
Phase 1 Thermal Line Basement Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040009
Phase 1 Thermal Line Ground Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040010
Phase 1 Thermal Line L01 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040011
Phase 1 Thermal Line Sections 28.2.2020 EBE-AST-XX-XX-DR-A-040050
Phase 1 Waterproofing Strategy Basement Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040200
Phase 1 Thermal Line L02 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040012
Phase 1 Waterproofing Strategy Ground Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040201
Phase 1 Typical Lower Floor Axonometric 28.2.2020 EBE-AST-XX-XX-DR-A-030600
Phase 1 Typical Upper Floor Axonometric 28.2.2020 EBE-AST-XX-XX-DR-A-030601
Site Location Plan 28.2.2020 EBE-AST-XX-XX-DR-A-020001
Masterplan Setting Out 28.2.2020 EBE-AST-XX-XX-DR-A-020202
Masterplan Scheme Axonometric from SW 28.2.2020 EBE-AST-XX-XX-DR-A-020200
Splash Page (Cover) 28.2.2020 EBE-AST-XX-XX-DR-A-000000
Project Drawing Schedule 28.2.2020 EBE-AST-XX-XX-DR-A-000001 Sheet Naming 28.2.2020 EBE-AST-XX-XX-DR-A-000002
12 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Project Symbols 28.2.2020 EBE-AST-XX-XX-DR-A-000003 Ground Floor Plan Sectional Completion Phase Plans 3 & 4 28.2.2020 EBE-AST-XX-XX-DR-A-020501
Groud Floor Plan Sectional Completion Phase Plans 1 & 2 28.2.2020 EBE-AST-XX-XX-DR-A-020500
Building 8 Cross and Long Sections 28.2.2020 EBE-AST-XX-XX-DR-A-030301
North West Elevations 28.2.2020 EBE-AST-XX-XX-DR-A-030200
Phase 1 Axonometric View East 28.2.2020 EBE-AST-XX-XX-DR-A-070001
Scoping Elevations B07 North East 28.2.2020 EBE-AST-XX-XX-DR-A-070112
Scoping Elevations B07 North West 28.2.2020 EBE-AST-XX-XX-DR-A-070111
North East Elevation 28.2.2020 EBE-AST-XX-XX-DR-A-030203
South East Elevation 28.2.2020 EBE-AST-XX-XX-DR-A-030202
Scoping Elevations B08 North West 28.2.2020 EBE-AST-XX-XX-DR-A-070121
Scoping Elevations B08 North East 28.2.2020 EBE-AST-XX-XX-DR-A-070122
Scoping Elevations B08 South East 28.2.2020 EBE-AST-XX-XX-DR-A-070123
Scoping Elevations B08 South West 28.2.2020 EBE-AST-XX-XX-DR-A-070124
Scoping Elevations B07 South East 28.2.2020 EBE-AST-XX-XX-DR-A-070113
Key Details Balcony Interfaces 28.2.2020 EBE-AST-XX-XX-DR-A-030900
13 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Key Details Upper Floors 28.2.2020 EBE-AST-XX-XX-DR-A-030901
Key Details Terrace Interfaces 28.2.2020 EBE-AST-XX-XX-DR-A-030902
Key Details Podium Interface and Roof Build Up 28.2.2020 EBE-AST-XX-XX-DR-A-030903
Typical Wall Build Ups 28.2.2020 EBE-AST-XX-XX-DR-A-030904
B07 Ground and First Floor RCPs 28.2.2020 EBE-AST-XX-XX-DR-A-060100
Family Bathroom Type 1 28.2.2020 EBE-AST-XX-XX-DR-A-060901
Typical 2B Kitchen 28.2.2020 EBE-AST-XX-XX-DR-A-060905
Masterplan Setting Out Section 28.2.2020 EBE-AST-XX-XX-DR-A-020201
Cenrtal Hub Ground Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030800
Central Hub Floor 01 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030801
Central Hub Typical Sections 28.2.2020 EBE-AST-XX-XX-DR-A-030802
Podium Typical Cross Section 28.2.2020 EBE-AST-XX-XX-DR-A-030810
Residential Lobby Section 28.2.2020 EBE-AST-XX-XX-DR-A-030811
Architectural Stage 3 Report 28.2.2020 -
Bay Study Typical Railway Façade Balcony 28.2.2020 EBE-AST-XX-XX-DR-A-070214
Bay Study Typical Town Square Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070212
14 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Bay Study Typical Railway Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070213
Key Details Winter Garden Interface 28.2.2020 EBE-AST-XX-XX-DR-A-030905
Phase 1 Windows and Door Scope Plan Upper Floors 28.2.2020 EBE-AST-XX-XX-DR-A-070901
Phase 1 Window and Door Schedule Upper Floors 28.2.2020 EBE-AST-XX-XX-DR-A-070900
Unit mix Rev T -
EBE stage 3 Addendum Rev 3 20.5.2020 -
Engineering
Technical Report 28.2.2020 EBE-ARP-ZZ-XX-RP-V-000001 P01
Project Management and Life Cycle Report 28.2.2020 EBE-GAT-ZZ-XX-RP-Z-000001
Architecture and Landscape Report 28.2.2020 EBE-AST-ZZ-XX-RP-A-000001
Façade Detail EWS-2.1/ EWS-5/ EWS-9 Vertical Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150211
Façade Detail EWS-2.1/ EWS-9/ Terracotta Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150212
Façade Detail EWS-2.1/ EWS-5/ Terracotta Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150213
Façade Detail EWS-2.1/ EWS-5/9/ Vertical Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150221
Façade Detail EWS-2.1/ EWS-9/ Fibre Cement Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150222
15 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Façade Detail EWS-3.1 GRC Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150311
Façade Detail EWS-3.1 GRC Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150312
Façade Detail EWS-3.1 GRC Rainscreen Horizontal Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150313
Façade Detail EWS-3.1/ EWS-2.2 Horizontal Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150314
Façade Detail EWS-3.1/ EWS-2.2 Horizontal Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150315
Façade Detail EWS-4/ EWS-2.1/ EWS-9 Vertical Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150401
Façade Detail EWS-4 Horizontal Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150402
Lighting/ Landscape and Podium Proposed Lighting 28.2.2020 EBE-ARP-ZZ-ZZ-DR-YL-271510
Site Wide Building 07 Deployments Ground Floor EBE-ARP-07-00-DR-E-245511
Site Wide Building 07 Security Zoning Ground Floor EBE-ARP-07-00-DR-E-245517
Site Wide Building 07 Deployments First Floor EBE-ARP-07-00-DR-E-245512
Site Wide Building 07 Security Zoning First Floor EBE-ARP-07-00-DR-E-245518
Site Wide Building 07 Deployments Basement Floor EBE-ARP-07-00-DR-E-245510
Site Wide Building 07 Security Zoning Basement Floor EBE-ARP-07-00-DR-E-245516
Site Wide Building 07 Deployments Roof Layout EBE-ARP-07-00-DR-E-245515
Site Wide Building 07 Security Zoning Roof Layout EBE-ARP-07-00-DR-E-245521
16 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Site Wide Building 07 Deployments Typical Floor EBE-ARP-07-00-DR-E-245513
Site Wide Building 07 Deployments Typical Floor EBE-ARP-07-00-DR-E-245514
Site Wide Building 07 Security Zoning Typical Floor EBE-ARP-07-00-DR-E-245519
Site Wide Building 07 Security Zoning Typical Floor EBE-ARP-07-00-DR-E-245520
Site Wide Building 08 Deployments Ground Floor EBE-ARP-07-00-DR-E-245511
Site Wide Building 08 Security Zoning Ground Floor EBE-ARP-07-00-DR-E-245517
Site Wide Building 08 Deployments First Floor EBE-ARP-07-00-DR-E-245512
Site Wide Building 08 Security Zoning First Floor EBE-ARP-07-00-DR-E-245518
Site Wide Building 08 Deployments Basement Floor EBE-ARP-07-00-DR-E-245510
Site Wide Building 08 Security Zoning Basement Floor EBE-ARP-07-00-DR-E-245516
Site Wide Building 08 Deployments Site Wide EBE-ARP-07-00-DR-E-245110
Combined Utilities General Notes and Legend EBE-ARP-ZZ-BG-DR-C-100001
Diversions and Abandonments Combined Utilities EBE-ARP-ZZ-BG-DR-C-112020
Diversions and Abandonments Combined Utilities EBE-ARP-ZZ-BG-DR-C-112021
Diversions and Abandonments Combined Utilities EBE-ARP-ZZ-BG-DR-C-112022
Diversions and Abandonments Combined Utilities EBE-ARP-ZZ-BG-DR-C-112023
17 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Diversions and Abandonments Potable Water EBE-ARP-ZZ-BG-DR-C-112030
Diversions and Abandonments Potable Water EBE-ARP-ZZ-BG-DR-C-112032
Diversions and Abandonments Potable Water EBE-ARP-ZZ-BG-DR-C-112033
Diversions and Abandonments Gas Network EBE-ARP-ZZ-BG-DR-C-112040
Diversions and Abandonments Gas Network EBE-ARP-ZZ-BG-DR-C-112042
Diversions and Abandonments Gas Network EBE-ARP-ZZ-BG-DR-C-112043
Diversions and Abandonments EHV Electricity Network EBE-ARP-ZZ-BG-DR-C-112060
Diversions and Abandonments EHV Electricity Network EBE-ARP-ZZ-BG-DR-C-112061
Diversions and Abandonments EHV Electricity Network EBE-ARP-ZZ-BG-DR-C-112062
Diversions and Abandonments EHV Electricity Network EBE-ARP-ZZ-BG-DR-C-112063
Diversions and Abandonments LV Electricity Network EBE-ARP-ZZ-BG-DR-C-112070
Diversions and Abandonments LV Electricity Network EBE-ARP-ZZ-BG-DR-C-112072
Diversions and Abandonments LV Electricity Network EBE-ARP-ZZ-BG-DR-C-112073
Diversions and Abandonments Telecommunications Network EBE-ARP-ZZ-BG-DR-C-112080
Diversions and Abandonments Telecommunications Network EBE-ARP-ZZ-BG-DR-C-112082
Diversions and Abandonments Telecommunications Network EBE-ARP-ZZ-BG-DR-C-112083
18 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Combined Utilities Layout EBE-ARP-ZZ-BG-DR-C-122001
Water Networks Layout EBE-ARP-ZZ-BG-DR-C-132001
Water Networks Typical Details EBE-ARP-ZZ-BG-DR-C-137001
Gas Network Layout EBE-ARP-ZZ-BG-DR-C-142001
Gas Network Typical Details EBE-ARP-ZZ-BG-DR-C-147001
Heating and Cooling Network Layout EBE-ARP-ZZ-BG-DR-C-152001
Ground Source Heat Pump Key Plan EBE-ARP-ZZ-BG-DR-C-152010
Ground Source Heat Pump Sheet 1 EBE-ARP-ZZ-BG-DR-C-152011
Ground Source Heat Pump Sheet 2 EBE-ARP-ZZ-BG-DR-C-152012
Ground Source Heat Pump Sheet 3 EBE-ARP-ZZ-BG-DR-C-152013
Heating & Cooling GSHP Typical Details Sheet 1 EBE-ARP-ZZ-BG-DR-C-157001
Heating & Cooling GSHP Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-C-157002
Heating & Cooling GSHP Typical Details Sheet 3 EBE-ARP-ZZ-BG-DR-C-157003
Heating & Cooling GSHP Chamber Schedule EBE-ARP-ZZ-BG-DR-C-159001
UKPN Electricity Network Layout EBE-ARP-ZZ-BG-DR-C-162001
HV Electricity Network Typical Details Sheet 1 EBE-ARP-ZZ-BG-DR-C-167001
19 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. HV Electricity Network Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-C-167002
HV Electricity Network Chamber Schedule EBE-ARP-ZZ-BG-DR-C-169001
LV Electricity Network Layout EBE-ARP-ZZ-BG-DR-C-172001
LV Electricity Network Typical Details Sheet 1 EBE-ARP-ZZ-BG-DR-C-177001
LV Electricity Network Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-C-177002
LV Electricity Network Typical Details Sheet 3 EBE-ARP-ZZ-BG-DR-C-177003
LV Electricity Network Typical Details Sheet 4 EBE-ARP-ZZ-BG-DR-C-177004
LV Electricity Network Chamber Schedule EBE-ARP-ZZ-BG-DR-C-179001
Telecommunications Network Layout EBE-ARP-ZZ-BG-DR-C-182001
Telecommunications Network Typical Details Sheet 1 EBE-ARP-ZZ-BG-DR-C-187001
Telecommunications Network Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-C-187002
Telecommunications Network Chamber Schedule EBE-ARP-ZZ-BG-DR-C-189001
Drainage Network and General Notes Legend EBE-ARP-ZZ-BG-DR-CD-100001
Diversions and Abandonments Combined Drainage EBE-ARP-ZZ-BG-DR-CD-112010
Diversions and Abandonments Combined Drainage EBE-ARP-ZZ-BR-DR-CD-112012
Diversions and Abandonments Combined Drainage EBE-ARP-ZZ-BG-DR-CD-112013
20 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Foul & Surface Water Drainage Layout EBE-ARP-ZZ-BR-DR-CD-122001
Foul & Surface Water Drainage Typical Details EBE-ARP-ZZ-BG-DR-CD-127001
Foul & Surface Water Drainage Typical Details EBE-ARP-ZZ-BR-DR-CD-127002
Surface Water Drainage Layout EBE-ARP-ZZ-BG-DR-CD-132001
Attenuation Tank Typical Details EBE-ARP-ZZ-BR-DR-CD-137001
Surface Water Drainage Manhole schedule EBE-ARP-ZZ-BG-DR-CD-139001
Foul Water Drainage Layout EBE-ARP-ZZ-BR-DR-CD-142001
Foul Water Drainage Manhole Schedule EBE-ARP-ZZ-BG-DR-CD-149001
Highways and Hard Landscaping General Notes EBE-ARP-ZZ-BR-DR-CD-100001
Civl Earthworks and Levels Formation EBE-ARP-ZZ-BG-DR-CD-162001
Civil Earthworks and Levels Finished EBE-ARP-ZZ-BR-DR-CD-162011
Public Realm Paving Layouty EBE-ARP-ZZ-BG-DR-CD-182001
Public Realm Paving Typical Details Sheet 1 EBE-ARP-ZZ-BR-DR-CD-187001
Public Realm Paving Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-CD-187002
Public Realm Paving Typical Details Sheet 3 EBE-ARP-ZZ-BR-DR-CD-187003
Public Realm Paving Typical Details Sheet 4 EBE-ARP-ZZ-BG-DR-CD-187004
21 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Public Realm Paving Jointing Layout EBE-ARP-ZZ-BR-DR-CD-182011
Building 7 Piling GA EBE-ARP-07-P1-DR-S-107101
Building 7 Basement GA EBE-ARP-07-B1-DR-S-117201
Building 7 Ground GA EBE-ARP-07-00-DR-S-117202
Building 7 1st GA EBE-ARP-07-01-DR-S-117203
Building 7 2nd Duplex EBE-ARP-07-02-DR-S-117204
Building 7 3rd GA EBE-ARP-07-03-DR-S-117205
Building 7 4th GA EBE-ARP-07-04-DR-S-117206
Building 7 Typical Lower GA EBE-ARP-07-05-DR-S-117207
Building 7 10th Floor GA EBE-ARP-07-10-DR-S-117208
Building 7 11th Floor GA EBE-ARP-07-11-DR-S-117209
Building 7 12th Floor GA EBE-ARP-07-12-DR-S-117210
Building 7 Typical Upper GA EBE-ARP-07-13-DR-S-117211
Building 7 Roof and Lift Overrun EBE-ARP-07-RF-DR-S-117212
Building 7 Long Section 1 EBE-ARP-07-ZZ-DR-S-127501
Building 7 Long Section 2 EBE-ARP-07-ZZ-DR-S-127502
22 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Building 7 Long Section 3 EBE-ARP-07-ZZ-DR-S-127503
Building 7 2nd Floor Duplex Loading Plans EBE-ARP-07-02-DR-S-117704
Building 7 Typical Lower Floor Loading Plans EBE-ARP-07-05-DR-S-117705
Building 7 12th Floor Terrace Loading Plans EBE-ARP-07-12-DR-S-117706
Building 7 Typical Upper Floor Loading Plans EBE-ARP-07-13-DR-S-117707
Building 7 Roof Loading Plans EBE-ARP-07-RF-DR-S-117708
Building 8 Piling GA EBE-ARP-08-P1-DR-S-108101
Building 8 Basement GA EBE-ARP-08-B1-DR-S-118201
Building 8 Ground GA EBE-ARP-08-00-DR-S-118202
Building 8 1st GA EBE-ARP-08-01-DR-S-118203
Building 8 2nd Duplex EBE-ARP-08-02-DR-S-118204
Building 8 3rd GA EBE-ARP-08-03-DR-S-118205
Building 8 4th GA EBE-ARP-08-04-DR-S-118206
Building 8 Typical Lower GA EBE-ARP-08-05-DR-S-118207
Building 8 10th Floor GA EBE-ARP-08-10-DR-S-118208
Building 8 11th Floor GA EBE-ARP-08-11-DR-S-118209
23 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Building 8 12th Floor GA EBE-ARP-08-12-DR-S-118210
Building 8 Typical Upper GA EBE-ARP-08-13-DR-S-118211
Building 8 Roof and Lift Overrun EBE-ARP-08-RF-DR-S-118212
Building 8 Long Section 1 EBE-ARP-08-ZZ-DR-S-128501
Building 8 Long Section 2 EBE-ARP-08-ZZ-DR-S-128502
Building 8 Long Section 3 EBE-ARP-08-ZZ-DR-S-128503
Building 8 2nd Floor Duplex Loading Plans EBE-ARP-08-02-DR-S-118704
Building 8 Typical Lower Floor Loading Plans EBE-ARP-08-05-DR-S-118705
Building 8 12th Floor Terrace Loading Plans EBE-ARP-08-12-DR-S-118706
Building 8 Typical Upper Floor Loading Plans EBE-ARP-08-13-DR-S-118707
Building 8 Roof Loading Plans EBE-ARP-08-12-DR-S-118706
Basement Floor Loading Plans EBE-ARP-ZZ-B1-DR-S-110701
Ground Floor Loading Plans EBE-ARP-ZZ-GF-DR-S-110702
First Floor Loading Plans EBE-ARP-ZZ-01-DR-S-110703
Project Fonrt Sheet EBE-ARP-ZZ-XX-DR-S-130901
General Description EBE-ARP-ZZ-XX-DR-S-110702
24 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. CDM/H&S EBE-ARP-ZZ-B1-DR-S-110701
Concrete Grade EBE-ARP-ZZ-GF-DR-S-110702
Steel Reinforcement EBE-ARP-ZZ-B1-DR-S-110701
Embodied Carbon Typical Floor EBE-ARP-ZZ-GF-DR-S-110702
Party Wall Sections EBE-ARP-ZZ-B1-DR-S-110701
Typical Details Sheet 1 EBE-ARP-ZZ-B1-DR-S-110701
Typical Details Sheet 2 EBE-ARP-ZZ-GF-DR-S-110702
General Notes EBE-ARP-ZZ-B1-DR-S-110701
Pile Schedule EBE-ARP-ZZ-GF-DR-S-110702
Pile Cap Schedule EBE-ARP-ZZ-B1-DR-S-110701
25 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
ASSUMPTIONS & EXCLUSIONS
The following is a list of key Assumptions and Exclusions that apply to the Estimate of Cost:-
Key Assumptions Key Assumptions
Estimated costs have been prepared using current day pricing levels (Q1 2020), with separate 1 11 Meanwhile building costs have been excluded as have the phase 2 and 3 costs allowances included for Tender and Construction inflation.
Allowances have been included for Main Contractor preliminaries and Main Contractor's Areas are intended for the production of the Cost Estimate only and should not be relied upon 2 overheads and profit across all construction works. The Preliminaries allowance has been 12 for any other purpose. informed by the Stage 1 D&B Tender process which is currently ongoing. A construction risk allowance has been included to reflect the status of the Stage 3 design. There The project has been costed on the basis of current Building Regulations and makes no 3 is also a Main Contractor D&B Risk Allowance at 2% at this stage. This risk allowance will be allowance for the results of the Consultation Paper with Government regarding Banning the use confirmed as part of the Stage 2 negotiations. 13 of Combustible materials in the external walls of high-rise residential buildings and any other New build costs that have been discussed in principle with the Architects where not specifically further changes to the Building Regulations such as the introduction of secondary means of 4 noted in the Stage 3 documentation. escape etc.
Any specific client / other risk allowances deemed to be included elsewhere by the client and 5 have not been provisioned for within this Cost Estimate. 14 The designs comply with current Building Regulations
No allowance has been made for any phasing of this phase of the works or for working outside of 6 normal working hours. Phase 1 has been costed as a standalone phase. The Cost Plan has been priced on the basis of insitu bathrooms rather than pod bathrooms. Pod bathroom construction can be reviewed and costed separately as a cost benefit analysis 15 Demolition costs are excluded from the Cost Plan and captured elswhere. exercise. Input from the Stage 1 D&B contractor will be required to determine the overall 7 approach.
It is assumed that the site has good ground conditions and the building shall be supported on 8 piled foundations. The Cost Plan includes for the Intermediate Ownership apartments to have the same fit out 16 specification as the other apartments types under the Affordable umbrella. Only the Market Gross and Net internal areas have been measured in accordance with IPMS (International Sale/ Rent have the Private fit out spec. 9 Property Measurement Standards).
Gross and Net internal areas of the proposed buildings have been measured from the drawings 10 17 Costs relating from force majeure events (including but not limited to a global pandemic)” included in the drawing reference list.
26 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
ASSUMPTIONS & EXCLUSIONS
The following should be read in conjunction with the Cost Plan descriptions and are a list of inclusions / exclusions that have been used to inform the basis of our costs. The items highlighted as ‘included’ below have been allowed for within our Cost Estimate. No allowances have been costed for those items identified as ‘excluded’ below. The items noted under the heading ‘client’ are deemed to have been accounted for by the client elsewhere in their development appraisal. List of Inclusions / Exclusions Incl. Excl. Client List of Inclusions / Exclusions Incl. Excl. Client
Currency and exchange rate fluctuations 1 Value Added Tax X 11 X
Costs resulting from tariffs or other charges following the 2 Land acquisition costs and fees X 12 withdrawal of the UK from the European Union X
Costs resulting from zero carbon requirements or offset charges 3 Client finance, legal or marketing costs X 13 X
Statutory changes 4 Professional fees (e.g. design, PCSA, PM, surveys etc) X 14 X
5 Planning and building regulation fees X 15 Works outside of the site boundary except where specifically stated X
Fees or costs associated with rights of light agreement, party wall 6 X 16 Public art installations or contributions X awards or over-sailing agreements etc..
7 Project insurances including latent defects insurance X 17 Phasing of the works X
Works outside of normal working hours 8 Section 106 / 278 Contributions X 18 X
Mockups, prototypes, off site benchmark and the like 9 Community Infrastructure Levy Contributions or similar X 19 X
Fit out of any retail spaces, nursery, community/ constructed to Benefits arising from any potential Capital Allowances or other 10 X 20 shell & core only X government incentives / grants
27 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
ASSUMPTIONS & EXCLUSIONS
List of Inclusions / Exclusions Incl. Excl. Client List of Inclusions / Exclusions Incl. Excl. Client
21 Tenant’s costs or contributions X 31 Connection to district heating system X
22 Loose fittings, furnishings and equipment and external furniture X 32 Power factor correction and harmonics X
Audio visual installations and equipment 23 Asbestos removal X 33 X
24 Fees, works or costs associated with abnormal ground conditions X 34 Affordable Housing Contributions X
25 Underpinning of adjoining structures X 35 Rooftop ball court X
Archaeological investigations and exploratory or resulting works. 26 X 36 Fit out of internal gym/café areas X (Allowance for trenches and attendance in Demolition Budget)
Diversion of existing below ground services other than where Any gym/play equipment over and above those stated in the Cost 27 X 37 X known/ specifically included for. Model
28 Cost associated with LUL surveys and monitoring X 38 Upgrade/adjustments to retaining walls, except where stated X
29 Increased design criteria for bomb protection X 39 Meanwhile use buildings X
30 IT hardware / active hubs X 40 Ongoing maintenance of external works/ planting etc. X
28 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
ASSUMPTIONS & EXCLUSIONS
List of Inclusions / Exclusions Incl. Excl. Client List of Inclusions / Exclusions Incl. Excl. Client
Site inviestigation. Surveys and Trial Pits etc. Geotechnical 41 X 51 Specialist movement monitoring X Investigation being undertaken as a separate contract with WCC
42 Developer's Risk Allowance and overall Project Contingency X 52 Car lifts/ stackers X
43 Bathroom pods X 53 Uninterruptible Power Supply (UPS) X
44 Winter gardens X 54 Canopies to Terraces X
45 Enhanced finishes to penthouses X 55 Wireless containment X
46 Planting to terrances other than Podium level X 56 WELL building standard X
Architectrual finish concrete and cast in services. Architectural 47 Top down construction methods X 57 finish has only been allowed for in stair well with surface mounted X services
48 Impacts of Coronavirus X 58 X
49 Abnormal ground conditions and disposal of contaminated soil X 59 X
50 Vibration/ acoustic isolation X 60 X
29 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Section 6
Block 7 - Estimate Breakdown
30 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,599
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA
1.1 Facilitating Works £55,000 £4.40 £0.41 1.3 Piling rig inc. moving and standing time 1 Item 25,000 Movement monitoring (adjacent buildings/ 1 Item 30,000 party walls) 55,000
1.2 Secant Piling £1,070,600 £85.00 £7.90 Pile probing - Included in Demo/ Enabling - nr - Incl. Works budget Guide wall to secant piles 130 m 250 32,500 Secant piling, 750mm diameter at 1.2m c/c, 2,692 m 260 699,920 primary 12m long / secondary 13m long arrangement, including blind boring and reinforcement allowance of 200kg/m to length of male/ secondary piles E.O. 25nr secondary piles a further 10m length 250 m 300 75,000 to allow for vertical loads imposed by superstructure Disposal of arisings from piles; inert 1,883 m³ 50 94,150 Clean down face of secant pile walls and jet 585 m² 50 29,250 wash Cutting off top of concrete piles and preparing 215 nr 400 86,000 pile heads Pile testing 215 nr 250 53,750 Allowance for obstructions/ standing time Item - Allowance for extra cost of disposal of 188 m³ 125 Excl. contaminated material; 10.0%
1,070,570
31 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,599
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA
1.3 Capping Beam £131,900 £10.50 £0.98 Concrete to reinforced concrete capping beam, 218 m³ 200 43,600 assumed 1200mm wide x 1350mm deep
Reinforcement to above, 200kg/m³ 33 tn 1,200 39,600 Formwork to above; 1200mm high sides and 383 m² 75 28,725 projecting soffit including cutting to profile of secant piles E.O. step in to capping beam for incoming 1 Item 20,000 services
131,925
1.4 Ground Bearing Piles £1,181,100 £93.70 £8.71 Ground bearing piles, 900mm diameter, 40m 1,440 m 260 374,400 VE changed from 900mm long, reinforcement allowance of 100kg/m³; diameter 36nr as indicated on Arup piling schedule
Ditto; 750mm diameter, 40m long, 31nr 1,240 m 300 372,000 Ditto; 750mm diameter, 35m long, 22nr 770 m 250 192,500 Ditto; 750mm diameter, 25m long, 1nr 25 m 250 6,250 Ditto; 750mm diameter, 20m long, 11nr 220 m 250 55,000 Disposal of arisings to piles 1,913 m³ 55 105,215 Cutting off top of concrete piles and preparing 101 nr 450 45,450 pile heads Pile testing 101 nr 300 30,300 Allowance for obstructions/ standing time - Item Incl. removed as part of Demolition/ Enabling Works
32 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,599
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA Allowance for extra cost of disposal of 191 m³ 125 - Excluded contaminated material; 10.0%
1,181,115
1.5 Excavation £625,400 £49.60 £4.61 Maintenance and removal of piling mat, 1,234 m³ 30 37,020 assumed 1m deep - Included in Demolition/ Enabling Works Excavation to bottom of basement slab level; 4,399 m³ 20 87,980 approx. -1.00AOD; assume 1m excavated and disposed of as part of demolition contract (approx. 4.25m deep excavation)
E.O. excavation for pile caps 400 m³ 20 8,000 E.O. excavation for ground bearing slab 141 m³ 20 2,820 Disposal of excavated material; non-hazardous 6,174 m³ 55 339,570
Extra over for disposal of contaminated 299 m³ 125 - Excluded material, assumed 5% Extra over allowance for removing 597 m³ 75 Incl. obstructions; 10% (part of Demolition/ Enabling Works Contract) Allowance for temporary works during 1 Item 150,000 excavation Allowance for de-watering 1 Item - Assumed not required
625,390
1.6 Drainage £92,600 £7.30 £0.68 Allowance for below slab drainage 1,234 m² 75 92,550
33 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,599
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA
92,550
1.7 Basement Raft Slab £330,400 £26.20 £2.43 Sub-base, blinding etc. say 150mm thick 921 m² 50 46,050 In situ concrete to reinforced concrete raft slab, 553 m³ 200 110,600 600mm thick Insitu concrete to 1000x1000mm thickening 52 m³ 200 10,400 below lining wall E.O. for waterproof concrete to top section of 111 m³ 150 16,650 slab, say 200mm thick Reinforcement to above, allowance of 80kg/m³ 48 tn 1,200 57,600 as stated on Arup drawing Allowance for waterproofing/ tanking to raft 921 m² 50 46,050 slab Surface finish to raft slab 921 m² 4 3,684 Dowel bars between raft slab and secant pile 108 nr 40 4,320 wall; 2nr dowels per male pile E.O for forming lift pits; B1 level 3 nr 10,000 30,000 E.O for sump pump and access hatch 1 nr 5,000 5,000
330,354
1.8 Pile Caps (top 600mm/300mm concrete £167,800 £13.30 £1.24 included in slab) Insitu concrete to RC pile cap; Type PC01; 4 m³ 200 800 1000mm deep; Basement Insitu concrete to RC pile cap; Type PC02; 37 m³ 200 7,400 1800mm deep; Basement Insitu concrete to RC pile cap; Type PC03; 7 m³ 200 1,400 1800mm deep; Basement
34 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,599
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA Insitu concrete to RC pile cap; Type PC05; 10 m³ 200 2,000 1800mm deep; Basement Insitu concrete to RC pile cap; Type PC01; 3 m³ 200 600 1000mm deep; GF Insitu concrete to RC pile cap; Type PC02; 16 m³ 200 3,200 1800mm deep; GF Insitu concrete to RC pile cap; Type PC06; 45 m³ 200 9,000 1800mm deep; GF Insitu concrete to RC ground beam; Type GB01 24 m³ 200 4,800
Insitu concrete to thickening under RC Wall; 11 m³ 200 2,200 1050x1000mm Insitu concrete to Core RC pile cap; 1700mm 118 m³ 200 23,600 deep Insitu concrete to Core RC pile cap; 2700mm 127 m³ 200 25,400 deep Reinforcement to pile caps; 150kg/m³ 23 tn 1,200 27,600 Reinforcement to Core pile caps; 120kg/m³ 29 tn 1,200 34,800 Allowance for temporary works/ earthwork 1 Item 25,000 support to pile caps
167,800
1.9 RC Lining Wall £164,100 £13.00 £1.21 Allowance for Shotcrete backfill and 585 m² 100 58,500 waterproof membrane between secant piled wall and RC lining wall In situ concrete to reinforced concrete lining 176 m³ 200 35,200 wall to internal face of secant pile wall, 300mm thick, average of 4.5m height Reinforcement to above, 130kg/m³ 23 tn 1,200 27,600 35 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,599
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA Formwork to above, one side only 612 m² 70 42,840
164,140
1.10 Internal Columns £38,500 £3.10 £0.29 In situ reinforced concrete to columns, 4.2m 3 m³ 250 750 tall, Type C01; 500x500mm In situ reinforced concrete to columns, 4.2m 9 m³ 250 2,250 tall, Type C02; 250x1000mm In situ reinforced concrete to columns, 4.2m 11 m³ 250 2,750 tall, Type C03; 450x450mm Reinforcement to above, assumed allowance of 6 tn 1,200 7,200 250kg/m³ Formwork to above 255 m² 100 25,500
38,450
1.11 Waterproofing £0 £0.00 £0.00 Not required - Grade 2 basement Blockwork lining wall and cavity drain 585 m³ 0 -
-
1.12 Core Walls/ Structural Walls £88,600 £7.00 £0.65 In situ concrete to reinforced concrete core/ 104 m³ 200 20,800 structural walls, 300mm thick Reinforcement to above, allowance of 16 tn 1,200 19,200 150kg/m³ as stated on Arup drawing Formwork to above, both sides 694 m² 70 48,580
88,580
36 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,599
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA 1.13 GF/ Podium Slab £324,500 £25.80 £2.40 Sub-base, blinding etc. say 150mm thick 313 m² 50 15,650 In situ concrete to reinforced GF raft slab, 94 m³ 200 18,800 300mm thick Reinforcement to above, assumed allowance of 9 tn 1,200 10,800 130kg/m³ In situ concrete to suspended GF slab, 300mm 276 m³ 200 55,200 thick Reinforcement to above, assumed allowance of 40 tn 1,200 48,000 130kg/m³ Formwork to above 921 m² 70 64,470 Treatment to slab 921 m² 4 3,684 Allowance for steps in slab 72 m 250 18,000 Allowance for waterproofing/ tanking, vapour 313 m² 100 31,300 barrier and insulation to ground bearing part of ground floor slab Allowance for insulation layer to suspended 921 m² 50 46,050 ground floor slab Allowance for 600x1000mm service trench 25 m 500 12,500 Allowance to form concrete attenuation tank 1 Item Nil (Part of Landscaping design)
324,454
Total (£) £4,271,000 £339 £31 100
37 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUPERSTRUCTURE GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
2.1 Structural Frame £797,400 £63 £6 17.6 Insitu concrete in RC columns; Type C01 6 m³ 200 1,200 500x500mm Insitu concrete in RC columns; Type C02 184 m³ 200 36,800 250x1000mm Insitu concrete in RC columns; Type C03 182 m³ 200 36,400 450x450mm Reinforcement to concrete columns; 250kg/m³ 93 tn 1,200 111,600 Formwork to columns; basic finish 3,507 m² 100 350,700 Insitu concrete to RC upstands; Type CB01; 4 m³ 200 800 500x1000mm Insitu concrete to RC upstands; Type CB02; 9 m³ 200 1,800 500x1000mm Insitu concrete to RC upstands; generally; 4 m³ 200 800 200x200mm Reinforcement to concrete upstands; 200kg/m³ 3 tn 1,200 3,720 Formwork to upstands; basic finish 103 m² 135 13,905 Allowance for other items; upstands, 1 Item 66,927 66,927 downstands, transfer beams, kickers, temporary works, edge protection, concrete repairs etc.
Structural steelwork - CHS 219x8 hanger column 1 nr 3,000 3,000 to L01 Mezzanine Structural steelwork - UKC 203x203x 46 columns 5 tn 4,000 20,000
Intumescent paint to steelwork; assume 1nr 120 m² 50 6,000 Allowance for steelwork to roof plant enclosure 30 tn 3,500 105,000 as noted on Arup drawing Intumescent paint to steelwork; assume 1nr 774 m² 50 38,700 797,352
2.2 Upper Floors £2,250,700 £179 £17 49.6 Insitu concrete in slabs; 220mm thick typical; 2,648 m³ 200 529,600 250mm thick podium and 270mm thick roof 38 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUPERSTRUCTURE GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Reinforcement to concrete slabs; 135kg/m³ 369 tn 1,200 442,800 typical; 145kg/m³ podium Formwork to slabs; basic finish 12,037 m² 65 782,405 Formwork to edge of slabs; basic finish 2,619 m 100 261,900 Formwork to openings in slab; basic finish 113 m 100 11,300 Allowance for slab fold at level change 77 m 250 19,250 Slab finish 12,037 m² 5 60,185 Allowance for other items ; movement joints, 1 Item 143,308 143,308 construction joints, recesses, steps, crane infills, lifting eyes, chanels, repairs and temporary works etc. 2,250,748
2.3 Structural/ Core Walls £1,094,600 £87 £8 24.1 Insitu concrete in walls; Type W01; 200mm thick 377 m³ 200 75,400
Insitu concrete in walls; Type W02; 250mm thick 48 m³ 200 9,600
Insitu concrete in walls; Type W01; 300mm thick 674 m³ 200 134,800
Reinforcement to concrete walls; 150kg/m³ 165 tn 1,200 198,000 Formwork to concrete walls; basic finish 8,649 m² 70 605,430 E.O. for Architectural finish to Stair Core 892 m² 80 71,360 Impacts s/c prelims 1,094,590
2.4 Stairs £393,500 £31 £3 8.7 Pre-cast concrete stair flights (x2) + landings (x2) 18 nr 12,000 216,000
Allowance for painted metal balustrade with 126 m 750 94,500 3.5m per stair flight waxed timber handrail Allowance for painted metal with waxed timber 126 m 500 63,000 wall mounted handrail to stair flight walls
Allowance for circulation stair to Central Hub 1 nr 20,000 20,000 including handrail etc. 39 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUPERSTRUCTURE GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA 393,500
Total (£) £4,536,000 £360 £33 100
40 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXTERNAL WALLS AND WINDOWS GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA 3.1 External Walls £9,700,000 £770 £72 100.0 1 EWS-2.1 Terracotta rainscreen cladding and SFS 2,049 m² 891 1,826,161 Note assumed Façade prelims at substrata and rockwall insulation 15% due to design savings and scaffold in main contractor prelims 2 EWS-2.2 Fibre cement rainscreen cladding and 416 m² 633 263,120 SFS substrata and rockwall insulation 3 EWS-2.3 Rainscreen cladding to ground floor 70 m² 900 63,360 residential units and SFS substrata and rockwall insulation 3 EWS-3.1 and 3.2 GRC Rainscreen cladding and 2,758 m² 900 2,482,589 SFS substrata and rockwall insulation 4 EWS-4 Stick curtain walling to retail / communal 842 m² 930 782,762 area 5 EO Terracotta piers 14 Nr 10,000 140,000 6 EWS-5 Triple glazed windows 1,100 m² 935 1,028,500 Assumed alternative window supplier 7 EWS-5 Glazed doors 850 m² 935 794,750 Assumed alternative window supplier 8 EWS-6 Uninsulated lourves system at ground 0 m² - Included in EWS 4 floor 9 EW7 - Winter Garden 0 m² - Excluded 10 EW8 - Cladding around core at roof level 400 m² 700 280,000 11 Parapet 129 m² 700 90,143 12 EW9 - Precast balcony 1,350 m² 650 877,500 P Sum 13 Metal balustrading to above 1,281 m 500 640,500 Target Rate 14 Juliet balconies 300 m 500 150,000 15 Car Park sliding gate 1 Nr 50,000 50,000 16 Balcony screen divider; assumed glass 27 nr 500 13,500 17 Allowance for main entrance doors 2 nr 30,000 60,000 18 Allowance for secondary entrance doors 2 nr 20,000 40,000 19 Allowance for external doors generally 10 nr 7,500 75,000 20 Double doors 2 nr 20,000 40,000 9,697,886
41 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXTERNAL WALLS AND WINDOWS GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Total (£) £9,700,000 £770 £72 100
42 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
ROOF AND TERRACE FINISHES GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
4.1 Roof Finishes £1,223,900 £97 £9 100.0
1 Lightweight membrane roof including insulation 1,137 m² 150 170,550 and drainage 2 Basic paving to roof 581 m² 80 46,464 3 Decking to terrace and balconies 2,012 m² 150 301,831 4 Allowance for landscaping to above 0 m² 850 - 5 Allowance for man safe system 1 item 30,000 30,000 6 Allowance for lift overrun 2 nr 25,000 50,000 7 Allowance for roof access hatch 2 nr 10,000 20,000 8 Allowance for blue roof 1,718 m² 230 395,093 9 PV Panels m² 300 Excl. 10 Allowance for greening 0 PSUM 200,000 - Not required 11 Allowance for concrete plinths for MEP 1 Item 10,000 10,000 equipment 12 Allowance for BMU 1 Item 200,000 200,000 1,223,937
Total (£) £1,223,900 £97 £9 100
43 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL PARTITIONS AND DOORS GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
5.1 Internal Partitions £789,200 £63 £6 46.8 Fairfaced Blockwork partitions to Basement/ 1,079 m² 155 167,245 VE Changed to 140mm Ground Floor areas; 140mm thick Internal partition; Type 02 Party Wall; 300mm 2,834 m² 150 425,100 thick comprising, 2 x 12.5mm plasterboard either side, 2x 50mm stud and insulation, security mesh and 150mm cavity Internal partitions; Type 03; generally 2,072 m² 95 196,840 comprising 2 x 12.5mm plasterboard either side, 50mm stud and insulation 789,185
5.2 Internal Doors Basement £733,200 £58 £5 43.4 Double leaf doors complete including frame and 11 nr 3,500 38,500 ironmongery Single + half leaf doors complete including frame 1 nr 3,000 3,000 and ironmongery Single leaf doors complete including frame and 2 nr 2,750 5,500 ironmongery Riser doors; complete including frame and 11 nr 3,000 33,000 ironmongery Ground Floor Double leaf doors complete including frame and 4 nr 3,500 14,000 ironmongery Single + half leaf doors complete including frame 1 nr 3,000 3,000 and ironmongery Single leaf doors complete including frame and 8 nr 2,750 22,000 ironmongery Riser doors; complete including frame and 14 nr 900 12,600 ironmongery UKPN double leaf doors 5 nr 7,500 37,500 Entrance Lobby glazed double leaf doors 1 nr 12,500 12,500 external? complete including frame and ironmongery
44 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL PARTITIONS AND DOORS GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA L01 to L16 Apartment entrance doors, complete including 112 nr 1,450 162,400 frame and ironmongery Single + half leaf doors complete including frame 32 nr 2,500 80,000 and ironmongery Single leaf doors complete including frame and 33 nr 2,000 66,000 ironmongery Riser doors; complete including frame and 208 nr 900 187,200 ironmongery Apartment access hatch doors 112 nr 500 56,000 733,200
6.4 Central Hub £165,700 £13 £1 9.8 Internal partitions; Type 03; generally 854 m² 95 81,130 comprising 2 x 12.5mm plasterboard either side, 50mm stud and insulation Internal partition; Type 02; Stair; 300mm thick 63 m² 200 12,600 comprising, 2 x 12.5mm plasterboard either side, 2x 50mm stud and insulation and 150mm cavity Allowance for doors complete including 18 nr 2,750 49,500 ironmongery and frames; generally Glazed screen to Mezzanine (Central Hub) 45 m² 500 22,500 165,730
Total (£) £1,688,000 £134 £12 100
45 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL FINISHES GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
6.1 Floor Finishes £192,200 £15 £1 22.3 Basement Allowance for epoxy paint finish to plant/ cycle 582 m² 30 17,460 rooms Allowance for vinyl floor finish to circulation 286 m² 65 18,590 areas Ground Floor Allowance for floor build up generally; screeds/ 867 m² 30 26,010 raised floor/ void former etc. Allowance for epoxy paint finish to plant/ 566 m² 30 16,980 refuse/ cycle rooms Entrance matting to Entrance Lobby 1 Item 2,500 2,500 Clay paving stones to Entrance Lobby/ Core 70 m² 250 17,500 Allowance for soft floor finish to Amenity space; 42 m² 50 2,100 Sisal Herringbone carpet or similar Allowance for polyurethane car park finish 189 m² 100 18,900 Allowance for car park markings 2 visits 1,500 3,000 Steel riser gratings fixed to slab 11 m² 75 825 L01-L16 Carpet floor finish to core/ apartment 886 m² 45 39,870 circulation; Sisal Herringbone carpet Carpet floor finish to stair core; L00 to L04 only 91 m² 45 4,095
Painted concrete finish to Cleaner's Cupboards; 53 m² 30 1,590 basic white 100x100mm Steel riser gratings fixed to slab 182 m² 125 22,800 192,220
6.2 Wall Finishes £319,700 £25 £2 37.1 Basement Keim paint to basement blockwork walls; 1,150 m² 30 34,500 generally Keim paint finish to basement structural walls; 694 m² 30 20,820 generally
46 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL FINISHES GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Paint finish to plasterboard walls; generally 187 m² 10 1,870 Ground Floor Keim paint to basement blockwork walls; 1,007 m² 30 30,210 generally Paint finish to plasterboard walls; generally 429 m² 10 4,290 Wall lining to structural walls; 2 x plasterboard 168 m² 40 6,720 layer, excluding stair core Allowance for painted MDF skirting 70 m 25 1,750 L01-L16 Paint finish to plasterboard walls; generally 4,761 m² 10 47,610 Wall lining to structural walls; 2 x plasterboard 2,331 m² 40 93,240 layer, excluding stair core Keim paint to architectural finish concrete stair 892 m² 30 26,760 core walls Painted artwork/ vinyl print to apartment 2,430 m² - Excl. Option Cost circulation walls Paint finish to Cleaner's Cupboard 154 m² 15 2,310 Allowance for painted MDF skirting 1,984 m 25 49,594 319,674
6.3 Ceiling Finishes £200,500 £16 £1 23.2 Basement Sealant/ paint finish to basement areas; 868 m² 25 21,700 generally Ground Floor Sealant/ paint finish to plant, parking, refuse 755 m² 25 18,875 areas; generally Suspended plasterboard ceiling; generally 112 m² 60 6,720 Paint finish to plasterboard ceilings; generally 112 m² 10 1,120
E.O. allowance for feature ceiling to Entrance 70 m² 150 10,500 Lobby Keim paint finish to underside pre-cast concrete 0 m² 30 - See below stair L01-L16
47 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL FINISHES GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Hunter Douglas baffle ceiling system to core/ 886 m² 150 132,900 apartment circulation areas Keim paint finish to underside pre-cast concrete 264 m² 30 7,920 stair Paint finish to Cleaner's Cupboard 53 m² 15 795 200,530
6.4 Central Hub £130,400 £10 £1 15.1 Allowance for internal finishes to Central Hub 237 m² 550 130,350 area 130,350
6.5 Lifts £20,000 £2 £0 2.3 Allowance for Lift Car finishes 2 nr 10,000 20,000 20,000
Total (£) £862,800 £68 £6 100
48 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
FIXTURES, FITTINGS & EQUIPMENT GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
7.1 Generally £250,000 £20 £2 64.1 Allowance for signage generally including 12,599 m² 6 75,594 statutory, way finding and door numbers Allowance for metal post boxes to Entrance 112 nr 500 56,000 Excludes retail areas Lobby Allowance for cycle racks 218 nr 300 65,400 as per Page 40/42 S3 Report Kitchenette to Amenity 1 Item 10,000 10,000 Barriers/ protection measures to car park 1 Item 30,000 30,000 Allowance for car washing point 1 Item 2,500 2,500 Amenity area WC 1 Item 12,500 12,500 251,994
7.2 Central Hub £140,000 £11 £1 35.9 Concierge desk 1 Item 50,000 50,000 Allowance for WCs (Superloo) 4 nr 12,500 50,000 Kitchenette to Hub 1 Item 10,000 10,000 Platform lift to Hub including enclosure 1 Item 15,000 15,000 Storage doors and shelving 8 nr 1,500 12,000 137,000
Total (£) £390,000 £31 £3 100
49 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
MEPH SERVICES AND LIFTS GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
8.1 Services £3,806,600 £302 £28 83.5 1 Sanitary Appliances 12,599 m² - 2 Services Equipment 12,599 m² - 3 Disposal Installations 12,599 m² 49 620,521 4 Water Installations 12,599 m² 18 228,000 5 Heat Source 12,599 m² 0 - 6 Space Heating and Air Conditioning 12,599 m² 19 240,000 7 Ventilation Systems 12,599 m² 17 210,000 8 Electrical Installation 12,599 m² 66 835,000 9 Gas Installation 12,599 m² 0 - 10 Fire and Lightning Protection 12,599 m² 14 177,000 11 Communication, Security and Control Systems 12,599 m² 74 929,000
12 Specialist Installations 12,599 m² 4 54,000 13 Builders work in connection 3 % 98,806 14 Testing and commissioning of Services 1 % 33,923 15 Water Treatment 1 % 34,262 16 External Services 12,599 m² - 17 Services sub-contract preliminaries 10 % 3,460,512 346,051 3,806,564
8.2 Lifts £752,400 £60 £6 16.5 1 Fire fighting lift serving 17 Levels - based on 1 item 263,000 263,000 2 Evacuation2m/s, 13 Person, lift serving single 17 entry Levels - based on 1 item 288,000 288,000 3 Cycle2m/s, lift13 servingPerson, 2 single Levels entry - based on Machine 1 item 50,000 50,000 4 Centralroom less, hub 2m/s, accessible 13 Person lift serving with dual 2 Levels entry - 1 item 50,000 50,000 5 Centralbased on hub Machine platform room lift; less,assume 1m/s, not 8 requiredperson, Exc item - 6 Allowance for enhanced finishes to lift cars; item - 7 Vehicleincluded lifts; within assume building none cost required plan if required item - 8 Lift Sub-Contractor Prelims 10 % 65,100 9 Builders work in connection 3 % 21,483 10 Testing and commissioning of Services 1 % 7,376
50 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
MEPH SERVICES AND LIFTS GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA 11 Water Treatment 1 % 7,450 752,408
Total (£) £4,559,000 £362 £34 100
51 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
FIT-OUT - PRIVATE / INTERMEDIATE GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
9.1 Fit-Out Works £4,709,800 £374 £35 100.0 Allowance for 1 Bed 2 Person; Type 01.A; NSA 1 nr 73,737 73,737 53.9 Allowance for 1 Bed 2 Person; Type 01.B; NSA 8 nr 68,080 544,640 51 Allowance for 1 Bed 2 Person; Type 01.C; NSA 4 nr 68,732 274,928 51.8 Allowance for 1 Bed 2 Person; Type 01.D; NSA 4 nr 73,673 294,694 54.5 Allowance for 1 Bed 2 Person; Type 01.E; NSA 0 nr - 63.1 Allowance for 2 Bed 4 Person; Type 02.A; NSA 20 nr 96,695 1,933,897 77.2 Allowance for 2 Bed 4 Person; Type 02.B; NSA 4 nr 89,057 356,226 72.5 Allowance for 2 Bed 3 Person; Type 02.C; NSA 0 nr - 69.6 Allowance for 3 Bed 5 Person; Type 03.A; NSA 8 nr 111,525 892,202 94.5 Allowance for 3 Bed 5 Person; Type 03.B; NSA 3 nr 113,151 339,453 88.2 Allowance for 3 Bed 5 Person; Type 03.C; NSA 0 nr - 89.5 Allowance for 3 Bed 5 Person; Type 03.D; NSA 0 nr - 108.5 Allowance for 3 Bed 5 Person; Type 03.E; NSA 0 nr - 104.6 4,709,777
Av. Fit Out cost per unit 52 nr 90,573 Total (£) £4,709,800 £374 £35 100
52 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
FIT-OUT -AFFORDABLE GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
10.1 Fit-Out Works £4,425,900 £351 £33 100.0 Allowance for 1 Bed 2 Person; Type 01.A; NSA 9 nr 56,422 507,799.67 53.9 Allowance for 1 Bed 2 Person; Type 01.B; NSA 6 nr 54,729 328,375.23 51 Allowance for 1 Bed 2 Person; Type 01.C; NSA 1 nr 55,566 55,566.20 51.8 Allowance for 1 Bed 2 Person; Type 01.D; NSA 1 nr 55,988 55,988.27 54.5 Allowance for 1 Bed 2 Person; Type 01.E; NSA 1 nr 59,607 59,606.63 63.1 Allowance for 2 Bed 4 Person; Type 02.A; NSA 19 nr 71,672 1,361,773.42 77.2 Allowance for 2 Bed 4 Person; Type 02.B; NSA 6 nr 74,005 444,032.79 77.5 Allowance for 2 Bed 3 Person; Type 02.C; NSA 0 nr - 69.6 Allowance for 3 Bed 5 Person; Type 03.A; NSA 7 nr 87,849 614,940.83 94.5 Allowance for 3 Bed 5 Person; Type 03.B; NSA 7 nr 89,240 624,677.13 88.2 Allowance for 3 Bed 5 Person; Type 03.C; NSA 0 nr - 89.5 Allowance for 3 Bed 5 Person; Type 03.D; NSA 0 nr - 108.5 Allowance for 3 Bed 5 Person; Type 03.E; NSA 1 nr 105,204 105,204.30 104.6 Allowance for 4 Bed 6 Person; Type 04.A; NSA 0 nr - 137.7 Allowance for 4 Bed 6 Person; Type 04.B; NSA 1 nr 136,048 136,048.13 137.5 Allowance for 4 Bed 6 Person; Type 04.C; NSA 1 nr 131,882 131,881.93 119.2
53 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
FIT-OUT -AFFORDABLE GIA (m²): 12,599
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Allowance for 4 Bed 6 Person; Type 04.D; NSA 0 nr - 136.2 Allowance for 5 Bed 8 Person; Type 05.A; NSA 0 nr - 148.1 4,425,894
Av. Fit Out cost per unit 60 nr 73,765
Total (£) £4,425,900 £351 £33 100
54 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Section 7
Block 8 - Estimate Breakdown
55 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,770
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA
1.1 Facilitating Works £55,000 £4.30 £0.40 1.2 Piling rig inc. moving and standing time 1 Item 25,000 Movement monitoring (adjacent buildings/ 1 Item 30,000 party walls) 55,000
1.2 Secant Piling £983,800 £77.00 £7.15 20.9 Pile probing - Included in Demo/ Enabling - nr - Incl. Works budget Guide wall to secant piles 117 m 250 29,250 Secant piling, 750mm diameter at 1.2m c/c, 2,456 m 260 638,560 VE changed from 900mm primary 12m long / secondary 13m long diameter arrangement, including blind boring and reinforcement allowance of 200kg/m to length of male/ secondary piles E.O. 25nr secondary piles a further 10m length 250 m 300 75,000 to allow for vertical loads imposed by superstructure Disposal of arisings from piles; inert 1,732 m³ 50 86,600 Clean down face of secant pile walls and jet 527 m² 50 26,350 wash Cutting off top of concrete piles and preparing 197 nr 400 78,800 pile heads Pile testing 197 nr 250 49,250 Allowance for obstructions/ standing time Item - Allowance for extra cost of disposal of 0 m³ 125 - Excluded contaminated material; 10.0% 983,810
1.3 Capping Beam £131,200 £10.30 £0.96 2.8
56 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,770
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA Concrete to reinforced concrete capping beam, 197 m³ 200 39,400 assumed 1200mm wide x 1350mm deep
Reinforcement to above, 200kg/m³ 39 tn 1,200 46,800 Formwork to above; 1200mm high sides and 333 m² 75 24,975 projecting soffit including cutting to profile of secant piles E.O. step in to capping beam for incoming 1 Item 20,000 services 131,175
1.4 Ground Bearing Piles £1,136,100 £89.00 £8.27 24.1 Ground bearing piles, 900mm diameter, 40m 1,280 m 275 352,000 long, reinforcement allowance of 120kg/m³; 32nr as indicated on Arup piling schedule
Ditto; 750mm diameter, 40m long, 23nr 920 m 300 276,000 Ditto; 750mm diameter, 35m long, 35nr 1,225 m 250 306,250 Ditto; 750mm diameter, 25m long, 0nr 0 m 250 - Ditto; 750mm diameter, 20m long, 6nr 120 m 250 30,000 Disposal of arisings to piles 1,815 m³ 55 99,825 Cutting off top of concrete piles and preparing 96 nr 450 43,200 pile heads Pile testing 96 nr 300 28,800 Allowance for obstructions/ standing time (part Item Incl. of Demolition/ Enabling Works Contract)
Allowance for extra cost of disposal of 182 m³ 125 - Excluded contaminated material; 10.0% 1,136,075
57 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,770
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA 1.5 Excavation £608,300 £47.60 £4.42 12.9 Maintenance and removal of piling mat, 1,270 m³ 30 38,100 assumed 1m deep - Included in Demolition/ Enabling Works Excavation to bottom of basement slab level; 4,718 m³ 20 94,360 approx. -1.00AOD; assume 1m excavated and disposed of as part of demolition contract (approx. 4.25m deep excavation)
E.O. excavation for pile caps 258 m³ 20 5,160 E.O. excavation for ground bearing slab 120 m³ 20 2,400 Disposal of excavated material; non-hazardous 6,365 m³ 50 318,250
Extra over for disposal of contaminated 318 m³ 125 - Excluded material, assumed 5% Extra over allowance for removing 637 m³ 75 Incl. obstructions; 10% (part of Demolition/ Enabling Works Contract) Allowance for temporary works during 1 Item 150,000 excavation Allowance for de-watering 0 Item - Assumed not required 608,270
1.6 Drainage £95,300 £7.50 £0.70 2.0 Allowance for below slab drainage 1,270 m² 75 95,250 95,250
1.7 Basement Raft Slab £353,500 £27.70 £2.57 7.5 Sub-base, blinding etc. say 150mm thick 1,004 m² 50 50,200 In situ concrete to reinforced concrete raft slab, 602 m³ 200 120,400 600mm thick
58 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,770
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA Insitu concrete to 1000x1000mm thickening 47 m³ 200 9,400 below lining wall E.O. for waterproof concrete to top section of 120 m³ 150 18,000 slab, say 200mm thick Reinforcement to above, allowance of 80kg/m³ 52 tn 1,200 62,400 as stated on Arup drawing Allowance for waterproofing/ tanking to raft 1,004 m² 50 50,200 slab Surface finish to raft slab 1,004 m² 4 4,016 Dowel bars between raft slab and secant pile 98 nr 40 3,920 wall; 2nr dowels per male pile E.O for forming lift pits; B1 level 3 nr 10,000 30,000 E.O for sump pump and access hatch 1 nr 5,000 5,000 353,536
1.8 Pile Caps (top 600mm/300mm concrete £165,600 £13.00 £1.21 3.5 included in slab) Insitu concrete to RC pile cap; Type PC01; 2 m³ 200 400 1000mm deep; Basement Insitu concrete to RC pile cap; Type PC02; 37 m³ 200 7,400 1800mm deep; Basement Insitu concrete to RC pile cap; Type PC03; 14 m³ 200 2,800 1800mm deep; Basement Insitu concrete to RC pile cap; Type PC04; 7 m³ 200 1,400 1800mm deep; Basement Insitu concrete to RC pile cap; Type PC05; 13 m³ 200 2,600 1800mm deep; Basement Insitu concrete to RC pile cap; Type PC01; 2 m³ 200 400 1000mm deep; GF Insitu concrete to RC pile cap; Type PC02; 31 m³ 200 6,200 1800mm deep; GF 59 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,770
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA Insitu concrete to RC pile cap; Type PC06; 15 m³ 200 3,000 1800mm deep; GF Insitu concrete to RC ground beam; Type GB01 14 m³ 200 2,800
Insitu concrete to thickening under RC Wall; 14 m³ 200 2,800 1050x1000mm Insitu concrete to Core RC pile cap; 1700mm 77 m³ 200 15,400 deep Insitu concrete to Core RC pile cap; 2500mm 30 m³ 200 6,000 deep Insitu concrete to Core RC pile cap; 2700mm 135 m³ 200 27,000 deep Reinforcement to pile caps; 150kg/m³ 23 tn 1,200 27,600 Reinforcement to Core pile caps; 120kg/m³ 29 tn 1,200 34,800 Allowance for temporary works/ earthwork 1 Item 25,000 support to pile caps 165,600
1.9 RC Lining Wall £146,400 £11.50 £1.07 3.1 Allowance for Shotcrete backfill and 527 m² 100 52,700 waterproof membrane between secant piled wall and RC lining wall In situ concrete to reinforced concrete lining 158 m³ 200 31,600 wall to internal face of secant pile wall, 300mm thick, average of 4.5m height Reinforcement to above, 130kg/m³ 21 tn 1,200 25,200 Formwork to above, one side only 527 m² 70 36,890 146,390
1.10 Internal Columns £29,300 £2.30 £0.21 0.6
60 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,770
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA In situ reinforced concrete to columns, 4.2m 3 m³ 250 750 tall, Type C01; 500x500mm In situ reinforced concrete to columns, 4.2m 11 m³ 250 2,750 tall, Type C02; 250x1000mm In situ reinforced concrete to columns, 4.2m 6 m³ 250 1,500 tall, Type C03; 450x450mm Reinforcement to above, assumed allowance of 5 tn 1,200 6,000 250kg/m³ Formwork to above 183 m² 100 18,300 29,300
1.11 Waterproofing £0 £0.00 £0.00 Blockwork lining wall and cavity drain 527 m³ 0 - Not required - Grade 2 basement -
1.12 Core Walls/ Structural Walls £69,800 £5.50 £0.51 1.5 In situ concrete to reinforced concrete core/ 83 m³ 200 16,600 structural walls, 300mm thick Reinforcement to above, allowance of 12 tn 1,200 14,400 150kg/m³ as stated on Arup drawing Formwork to above, both sides 554 m² 70 38,780 69,780
1.13 GF/ Podium Slab £324,000 £25.40 £2.36 6.9 Sub-base, blinding etc. say 150mm thick 266 m² 50 13,300 In situ concrete to reinforced GF raft slab, 80 m³ 200 16,000 300mm thick Reinforcement to above, assumed allowance of 8 tn 1,200 9,600 130kg/m³ In situ concrete to suspended GF slab, 300mm 301 m³ 200 60,200 thick
61 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUBSTRUCTURE AND BASEMENT GIA (m²): 12,770
£/m² £/ft² Ref Qty Unit Rate Total Total £ % Comments GIA GIA Reinforcement to above, assumed allowance of 44 tn 1,200 52,800 130kg/m³ Formwork to above 1,004 m² 70 70,280 Treatment to slab 1,004 m² 4 4,016 Allow for steps in slab 84 m 250 21,000 Allowance for waterproofing/ tanking, vapour 266 m² 100 26,600 barrier and insulation to ground bearing part of ground floor slab Allowance for insulation to suspended ground 1,004 m² 50 50,200 floor slab Allowance for 600x1000mm service trench 0 m 500 - Allowance to form concrete attenuation tank 1 Item Nil (Part of Landscaping design) 323,996
Allowance for Sub-Contractor Prelims 15% £606,500
Total (£) £4,704,800 £368 £34 100
62 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUPERSTRUCTURE GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
2.1 Structural Frame £700,000 £55 £5 16.0 Insitu concrete in RC columns; Type C01 2 m³ 200 400 500x500mm Insitu concrete in RC columns; Type C02 207 m³ 200 41,400 250x1000mm Insitu concrete in RC columns; Type C03 169 m³ 200 33,800 450x450mm Reinforcement to concrete columns; 250kg/m³ 94 tn 1,200 112,800 Formwork to columns; basic finish 3,591 m² 100 359,100 Insitu concrete to RC upstands; Type CB01; 9 m³ 200 1,800 500x1000mm Insitu concrete to RC upstands; Type CB02; 0 m³ 200 - 500x1000mm Insitu concrete to RC upstands; generally; 4 m³ 200 800 200x200mm Reinforcement to concrete upstands; 200kg/m³ 2 tn 1,200 2,880 Formwork to upstands; basic finish 124 m² 135 16,740 Allowance for other items; upstands, 1 Item 68,366 68,366 downstands, transfer beams, kickers, temporary works, edge protection, concrete repairs etc.
Structural steelwork - CHS 219x8 hanger column 0 nr 2,500 - to L01 Mezzanine Structural steelwork - UKC 203x203x 46 columns 5 tn 3,000 15,000
Intumescent paint to steelwork; assume 1nr 120 m² 50 6,000 Allowance for steelwork to BMU as noted on 10 tn 3,000 30,000 Arup drawing Intumescent paint to steelwork; assume 1nr 258 m² 50 12,900 701,986
2.2 Upper Floors £2,270,000 £178 £17 51.8 Insitu concrete in slabs; 220mm thick typical; 2,675 m³ 200 535,000 250mm thick podium and 270mm thick roof 63 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUPERSTRUCTURE GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Reinforcement to concrete slabs; 135kg/m³ 373 tn 1,200 447,600 typical; 145kg/m³ podium Formwork to slabs; basic finish 12,121 m² 65 787,865 Formwork to edge of slabs; basic finish 2,672 m 100 267,200 Formwork to openings in slab; basic finish 119 m 100 11,900 Allowance for slab fold at level change 77 m 250 19,250 Slab finish 12,121 m² 5 60,605 Allowance for other items ; movement joints, 1 Item 144,817 144,817 construction joints, recesses, steps, crane infills, lifting eyes, chanels, repairs and temporary works etc. 2,274,237
2.3 Structural/ Core Walls £1,040,000 £81 £8 23.7 Insitu concrete in walls; Type W01; 200mm thick 347 m³ 200 69,400
Insitu concrete in walls; Type W02; 250mm thick 24 m³ 200 4,800
Insitu concrete in walls; Type W01; 300mm thick 677 m³ 200 135,400
Reinforcement to concrete walls; 150kg/m³ 157 tn 1,200 188,400 Formwork to concrete walls; basic finish 8,178 m² 70 572,460 E.O. for Architectural finish to Stair Core 892 m² 80 71,360 Impacts s/c prelims 1,041,820
2.4 Stairs £373,500 £29 £3 8.5 Pre-cast concrete stair flights (x2) + landings (x2) 18 nr 12,000 216,000
Allowance for painted steel balustrade 126 m 750 94,500 3.5m per stair flight
64 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SUPERSTRUCTURE GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Allowance for painted metal handrail to stair 126 m 500 63,000 flight walls 373,500
Total (£) £4,383,500 £343 £32 100
65 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXTERNAL WALLS AND WINDOWS GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA 3.1 External Walls £9,819,600 £769 £71 100.0 1 EWS-2.1 Terracotta rainscreen cladding and SFS 2,274 m² 891 2,026,602 Note assumed Façade prelims at substrata and rockwall insulation 15% due to design savings and scaffold in main contractor prelims 2 EWS-2.2 Fibre cement rainscreen cladding and 346 m² 633 218,592 SFS substrata and rockwall insulation 3 EWS-2.3 Rainscreen cladding to ground floor 70 m² 900 63,360 residential units and SFS substrata and rockwall insulation 3 EWS-3.1 and 3.2 GRC Rainscreen cladding and 2,758 m² 900 2,482,589 SFS substrata and rockwall insulation 4 EWS-4 Stick curtain walling to retail / communal 842 m² 930 782,762 area 5 EO Terracotta piers 14 Nr 10,000 140,000 6 EWS-5 Triple glazed windows 1,115 m² 935 1,042,525 Assumed alternative window supplier 7 EWS-5 Glazed doors 845 m² 935 790,075 Assumed alternative window supplier 8 EWS-6 Uninsulated lourves system at ground 0 m² - Included in EWS 4 floor 9 EW7 - Winter Garden 0 m² - Excluded 10 EW8 - Cladding around core at roof level 400 m² 700 280,000 11 Parapet 129 m² 700 90,143 12 EW9 - Precast balcony 1,400 m² 650 910,000 P Sum 13 Metal balustrading to above 1,226 m 500 613,000 Target Rate 14 Juliet balconies 300 m 500 150,000 15 Car Park sliding gate 0 Nr 50,000 - 16 Balcony screen divider; assumed glass 30 nr 500 15,000 17 Allowance for main entrance doors 2 nr 30,000 60,000 18 Allowance for secondary entrance doors 2 nr 20,000 40,000 19 Allowance for external doors generally 10 nr 7,500 75,000 20 Double doors 2 nr 20,000 40,000 9,819,649 66 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXTERNAL WALLS AND WINDOWS GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Total (£) £9,819,600 £769 £71 100
67 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
ROOF AND TERRACE FINISHES GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
4.1 Roof Finishes £1,227,500 £96 £9 100.0
1 Lightweight membrane roof including insulation 1,137 m² 150 170,550 and drainage 2 Basic paving to roof 581 m² 80 46,464 3 Decking to terrace and balconies 2,036 m² 150 305,431 4 Allowance for landscaping to above 0 m² 850 - 5 Allowance for man safe system 1 item 30,000 30,000 6 Allowance for lift overrun 2 nr 25,000 50,000 7 Allowance for roof access hatch 2 nr 10,000 20,000 8 Allowance for blue roof 1,718 m² 230 395,093 9 PV Panels m² 300 Excl. 10 Allowance for greening 0 PSUM 200,000 - Not required 11 Allowance for BMU 1 Item 200,000 200,000 12 Allowance for concrete plinths for MEP 1 Item 10,000 10,000 equipment 1,227,537
Total (£) £1,227,500 £96 £9 100
68 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL PARTITIONS AND DOORS GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
5.1 Internal Partitions £783,000 £61 £6 53.4 Fairfaced Blockwork partitions to Basement/ 809 m² 155 125,395 VE changed to 140mm Ground Floor areas; 140mm thick Internal partition; Type 02 Party Wall; 300mm 2,909 m² 150 436,350 thick comprising, 2 x 12.5mm plasterboard either side, 2x 50mm stud and insulation, security mesh and 150mm cavity Internal partitions; Type 03; generally 2,329 m² 95 221,255 comprising 2 x 12.5mm plasterboard either side, 50mm stud and insulation 783,000
5.2 Internal Doors Basement £683,400 £54 £5 46.6 Double leaf doors complete including frame and 6 nr 3,500 21,000 ironmongery Single + half leaf doors complete including frame 1 nr 3,000 3,000 and ironmongery Single leaf doors complete including frame and 4 nr 2,750 11,000 ironmongery Riser doors; complete including frame and 11 nr 3,000 33,000 ironmongery Ground Floor Double leaf doors complete including frame and 4 nr 3,500 14,000 ironmongery Single + half leaf doors complete including frame 1 nr 3,000 3,000 and ironmongery Single leaf doors complete including frame and 10 nr 2,750 27,500 ironmongery Riser doors; complete including frame and 13 nr 900 11,700 ironmongery UKPN double leaf doors 0 nr 7,500 - Entrance Lobby glazed double leaf doors 1 nr 12,500 12,500 complete including frame and ironmongery
69 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL PARTITIONS AND DOORS GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA L01 to L16 Apartment entrance doors, complete including 110 nr 1,450 159,500 2 x apartments at L00 have frame and ironmongery external entrance doors. Single + half leaf doors complete including frame 32 nr 2,500 80,000 and ironmongery Single leaf doors complete including frame and 32 nr 2,000 64,000 ironmongery Riser doors; complete including frame and 208 nr 900 187,200 ironmongery Apartment access hatch doors 112 nr 500 56,000 683,400
Total (£) £1,466,400 £115 £11 100
70 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL FINISHES GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
6.1 Floor Finishes £239,300 £19 £2 31.3 Basement Allowance for epoxy paint finish to plant/ cycle 736 m² 30 22,080 rooms Allowance for vinyl floor finish to circulation 249 m² 65 16,185 areas Ground Floor Allowance for floor build up generally; screeds/ 855 m² 30 25,662 raised floor/ void former etc. Allowance for epoxy paint finish to plant/ 354 m² 30 10,620 refuse/ cycle rooms Entrance matting to Entrance Lobby 1 Item 2,500 2,500 Clay paving stones to Entrance Lobby/ Core 114 m² 250 28,600 Allowance for soft floor finish to Amenity space; 60 m² 50 3,000 Sisal Herringbone carpet or similar Allowance for polyurethane car park finish 327 m² 100 32,700 Allowance for car park markings 2 visits 1,500 3,000 Steel riser gratings fixed to slab 11 m² 75 825 L01-L16 Allowance for floor build up generally; screeds/ 886 m² 30 26,580 raised floor/ void former etc. Carpet floor finish to core/ apartment 886 m² 45 39,870 circulation; Sisal Herringbone carpet Carpet floor finish to stair core; L00 to L04 only 91 m² 45 4,095
Painted concrete finish to Cleaner's Cupboards; 53 m² 15 795 basic white 100x100mm Steel riser gratings fixed to slab 182 m² 125 22,800 239,312
6.2 Wall Finishes £298,300 £23 £2 39.1 Basement Keim paint to basement blockwork walls; 675 m² 30 20,250 generally
71 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL FINISHES GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Keim paint finish to basement structural walls; 554 m² 30 16,620 generally Paint finish to plasterboard walls; generally 187 m² 10 1,870 Ground Floor Keim paint to basement blockwork walls; 944 m² 30 28,320 generally Paint finish to plasterboard walls; generally 328 m² 10 3,280 Wall lining to structural walls; 2 x plasterboard 168 m² 40 6,720 layer, excluding stair core Allowance for painted MDF skirting 70 m 25 1,750 L01-L16 Paint finish to plasterboard walls; generally 4,761 m² 10 47,610 Wall lining to structural walls; 2 x plasterboard 2,331 m² 40 93,240 layer, excluding stair core Keim paint to architectural finish concrete stair 892 m² 30 26,760 core walls Painted artwork/ vinyl print to apartment 2,430 m² - Excl. Option Cost circulation walls Paint finish to Cleaner's Cupboard 154 m² 15 2,310 Allowance for painted MDF skirting 1,984 m 25 49,594 298,324
6.3 Ceiling Finishes £206,000 £16 £1 27.0 Basement Sealant/ paint finish to basement areas; 985 m² 25 24,625 generally Ground Floor Sealant/ paint finish to plant, parking, refuse 681 m² 25 17,025 areas; generally Suspended plasterboard ceiling; generally 174 m² 60 10,464 Paint finish to plasterboard ceilings; generally 174 m² 10 1,744
E.O. allowance for feature ceiling to Entrance 70 m² 150 10,500 Lobby
72 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
INTERNAL FINISHES GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Keim paint finish to underside pre-cast concrete 0 m² 30 - See below stair L01-L16 Hunter Douglas baffle ceiling system to core/ 886 m² 150 132,900 apartment circulation areas Keim paint finish to underside pre-cast concrete 264 m² 30 7,920 stair Paint finish to Cleaner's Cupboard 53 m² 15 795 205,973
6.4 Lifts £20,000 £2 £0 2.6 Allowance for Lift Car finishes 2 nr 10,000 20,000 20,000
Total (£) £763,600 £60 £6 100
73 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
FIXTURES, FITTINGS & EQUIPMENT GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
7.1 Generally £290,000 £23 £2 100 Allowance for signage generally including 12,770 m² 6 76,620 statutory, way finding and door numbers Allowance for metal post boxes to Entrance 112 nr 500 56,000 Excludes retail areas Lobby Allowance for cycle racks 216 nr 300 64,800 as per Page 40/ 42 S3 Report Reception desk 1 Nr 40,000 40,000 Kitchenette to Amenity 1 Item 10,000 10,000 Barriers/ protection measures to car park 1 Item 30,000 30,000 Allowance for car washing point 1 Item 2,500 2,500 Amenity area WC 1 Item 12,500 12,500 292,420
Total (£) £290,000 £23 £2 100
74 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
MEPH SERVICES AND LIFTS GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
8.1 Services £3,682,600 £288 £27 84.1 1 Sanitary Appliances 12,770 m² - 2 Services Equipment 12,770 m² - 3 Disposal Installations 12,770 m² 35 450,000 4 Water Installations 12,770 m² 18 225,024 5 Heat Source 12,770 m² 0 - 6 Space Heating and Air Conditioning 12,770 m² 18 230,214 7 Ventilation Systems 12,770 m² 18 235,000 8 Electrical Installation 12,770 m² 70 895,000 9 Gas Installation 12,770 m² 0 - 10 Fire and Lightning Protection 12,770 m² 14 178,083 11 Communication, Security and Control Systems 12,770 m² 72 918,968
12 Specialist Installations 12,770 m² 4 54,000 13 Builders work in connection 3 % 95,589 14 Testing and commissioning of Services 1 % 32,819 15 Water Treatment 1 % 33,147 16 External Services 12,770 m² - 17 Services sub-contract preliminaries 10 % 3,347,843 334,784 3,682,628 8.2 Lifts £695,600 £55 £5 15.9 1 Fire fighting lift serving 17 Levels - based on 1 item 263,000 263,000 2 Evacuation2m/s, 13 Person, lift serving single 17 entry Levels - based on 1 item 288,888 288,888 3 Cycle2m/s, lift13 servingPerson, 2 single Levels entry - based on Machine 1 item 50,000 50,000 4 Allowanceroom less, 2m/s,for enhanced 13 Person finishes with dualto lift entry cars; item - 5 Vehicleincluded lifts; within assume building none cost required plan if required item - 6 Sub-Con Prelims 10 % 60,189 7 Builders work in connection 3 % 19,862 8 Testing and commissioning of Services 1 % 6,819 9 Water Treatment 1 % 6,888 - 695,646
75 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
MEPH SERVICES AND LIFTS GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
Total (£) £4,378,200 £343 £32 100
76 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
FIT-OUT - PRIVATE GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
9.1 Fit-Out Works £1,491,300 £117 £11 100.0 Allowance for 1 Bed 2 Person; Type 01.A; NSA 2 nr 73,737 147,475 53.9 Allowance for 1 Bed 2 Person; Type 01.B; NSA 2 nr 68,080 136,160 51 Allowance for 1 Bed 2 Person; Type 01.C; NSA 0 nr - 51.8 Allowance for 1 Bed 2 Person; Type 01.D; NSA 0 nr - 54.5 Allowance for 1 Bed 2 Person; Type 01.E; NSA 0 nr - 63.1 Allowance for 2 Bed 4 Person; Type 02.A; NSA 6 nr 96,695 580,169 77.2 Allowance for 2 Bed 4 Person; Type 02.B; NSA 2 nr 89,057 178,113 72.5 Allowance for 2 Bed 3 Person; Type 02.C; NSA 0 nr - 69.6 Allowance for 3 Bed 5 Person; Type 03.A; NSA 2 nr 111,525 223,050 94.5 Allowance for 3 Bed 5 Person; Type 03.B; NSA 2 nr 113,151 226,302 88.2 Allowance for 3 Bed 5 Person; Type 03.C; NSA 0 nr - 89.5 Allowance for 3 Bed 5 Person; Type 03.D; NSA 0 nr - 108.5 Allowance for 3 Bed 5 Person; Type 03.E; NSA 0 nr - 104.6 1,491,269 Av. Fit Out cost per unit 16 nr 93,206
Total (£) £1,491,300 £117 £11 100
77 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
FIT-OUT -AFFORDABLE GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
10.1 Fit-Out Works £7,265,000 £569 £53 100.0 Allowance for 1 Bed 2 Person; Type 01.A; NSA 9 nr 56,422 507,799.67 53.9 Allowance for 1 Bed 2 Person; Type 01.B; NSA 14 nr 54,729 766,208.87 51 Allowance for 1 Bed 2 Person; Type 01.C; NSA 3 nr 55,566 166,698.59 51.8 Allowance for 1 Bed 2 Person; Type 01.D; NSA 3 nr 55,988 167,964.80 54.5 Allowance for 1 Bed 2 Person; Type 01.E; NSA 0 nr - 63.1 Allowance for 2 Bed 4 Person; Type 02.A; NSA 34 nr 71,672 2,436,857.69 77.2 Allowance for 2 Bed 4 Person; Type 02.B; NSA 8 nr 74,005 592,043.72 77.5 Allowance for 2 Bed 3 Person; Type 02.C; NSA 1 nr 72,037 72,036.75 69.6 Allowance for 3 Bed 5 Person; Type 03.A; NSA 11 nr 87,849 966,335.59 94.5 Allowance for 3 Bed 5 Person; Type 03.B; NSA 9 nr 89,240 803,156.31 88.2 Allowance for 3 Bed 5 Person; Type 03.C; NSA 0 nr - 89.5 Allowance for 3 Bed 5 Person; Type 03.D; NSA 1 nr 106,734 106,733.89 108.5 Allowance for 3 Bed 5 Person; Type 03.E; NSA 0 nr - 104.6 Allowance for 4 Bed 6 Person; Type 04.A; NSA 2 nr 131,807 263,613.59 137.7 Allowance for 4 Bed 6 Person; Type 04.B; NSA 0 nr - 137.5 Allowance for 4 Bed 6 Person; Type 04.C; NSA 1 nr 131,882 131,881.93 119.2
78 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
FIT-OUT -AFFORDABLE GIA (m²): 12,770
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA Allowance for 4 Bed 6 Person; Type 04.D; NSA 1 nr 129,721 129,720.62 136.2 Allowance for 5 Bed 8 Person; Type 5.A; NSA 1 nr 153,760 153,759.53 148.1 7,264,812
Fit out cost per unit 98 nr 74,133
Total (£) £7,265,000 £569 £53 100
79 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Appendix A
Site Infrastructure Cost Breakdown
80 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
SITE INFRASTRUCTURE WORKS GIA (m²): 25,369
£/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
1.1 Site Infrastructure Works £1,725,000 £68 £6 100.0
Archaeological site investigation; trenches and Incl. Included in the Demolition/ the like Enabling Works Budget Allowance for Ecology Works 1 Item 25,000 Allowance for services diversions and 1 Item 250,000 abandonments; potable water, Cadent LP gas network; UKPN LV and substation relocation, Private LV, BT/ Openreach, private telecomms, drainage and existing lighting columns
Allowance for drilling Ground Source Heat Pump 1 Item 350,000 350,000 boreholes including rigs/ attendance etc.
Incoming Utility Supplies; electricity, water, gas, 1 Item 1,000,000 1,000,000 drainage, telecoms connections to site boundary
Allowance for futureproofing services 1 Item Excl. Assume Phase 1 design includes requirements for later phases for any requirements Allowance for drainage/ attenuation 0 item - Blue roofs requirements - allow for below slab attenuation tank Allowance for UXO Surveys/ Watching Briefs 1 Item Excl. Allowance for maintenance of existing British 1 Item 100,000 As per Stage 2 Cost Model Transport Police Trunk Road allowance
1,725,000
Total (£) £1,725,000 £68 £6 100
81 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Appendix C
Public Realm and External Works Cost Breakdown
82 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXTERNAL WORKS AND PUBLIC REALM GIA (m²): 25,369 Landscape area (m2): 2,077 £/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA
1.1 Hard Landscaping £1,123,000 £44 £4 43.3 Allowance for earthworks generally to create 2,077 m² 200 415,400 levels Sub-base generally to hard landscaped areas; 1,270 m² 75 95,250 assume mesh reinforced concrete with movement joints E.O. reinforced areas for traffic 617 m² 100 61,700 P1; Clay paver; Colour 1 to Private amenity 50 m² 300 15,000 P2; Clay paver; Colour 2 to Driveable surface and 618 m² 300 185,400 footway P3; Clay paver; Colour 3; to pedestrian areas 602 m² 300 180,600 E1; 150mm wide Yorkstone kerb (125mm 44 m 200 8,860 upstand, flush or drop) E2; 150mm wide yorkstone kerb, textured, flush 109 m 200 21,800
E3; 150mm wide yorkstone drop kerb 61 m 200 12,280 E4; 300mm wide Yorkstone kerb (100mm 75 m 300 22,500 upstand) E5; 50mm wide concrete pin kerb 292 m 150 43,725 E6; flush steel edge 113 m 75 8,475 P5; paving to match existing 0 m² 150 - P7; red bark nuggets/ impact absorbing surface 175 m² 300 52,500
1,123,490
83 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXTERNAL WORKS AND PUBLIC REALM GIA (m²): 25,369 Landscape area (m2): 2,077 £/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA 1.2 Soft Landscaping £574,000 £23 £2 22.2 Mix 2; Rain garden mix; including sub-base 91 m² 100 9,100 Mix 3; Dwelling curtilage defensive mix including 81 m² 100 8,100 sub-base/ soil etc. Mix 5; Non-resi curtilage mixed planting 97 m² 100 9,700 including sub-base/ soil etc. Mix 1; Woodland mix including sub-base/ soil 200 m² 100 20,000 etc. Turf including sub-base/ soil etc 64 m² 50 3,210 Mix 4; Private dwelling mix 16 m² 100 1,600 Retained trees 3 nr 500 1,500 Standard Trees 9 nr 5,000 45,000 Multistem Trees 71 nr 3,000 213,000 Trees; 4500-5000mm height, 25-30cm girth 57 nr 5,000 complete including transportation, guy ropes, installation, tree pit, drainage layer, irrigation, backfilling with soil etc. Shrubs; 400-600mm height including 308 nr 350 107,800 transportation, installation, excavation and soil etc. Herbaceous perenials, based on density 2- 1,752 nr 50 87,600 5nr/m² including transportation, installation, excavation and soil etc. Bulbs, based on a density of 25nr/m² including 4,880 nr 4 17,080 transportation, installation, excavation, soil etc.
Allowance for irrigation system generally Item 50,000 573,690
84 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXTERNAL WORKS AND PUBLIC REALM GIA (m²): 25,369 Landscape area (m2): 2,077 £/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA 1.3 Fittings £368,000 £15 £1 14.2 B1; metal painted balustrade with timber 38 m 1,250 47,500 handrail; 1100mm high; to private terraces B2; 1100mm height, vertical steel temporary 18 m 1,500 27,000 railing on plinth F1; hardwood timber fence; 1100mm high; 42 m 250 10,500 including posts/ footings etc. Bollard lighting; XB1 6 nr 750 4,500 cabling etc. in MEPH Bollard Lighting; XC1 6 nr 750 4,500 cabling etc. in MEPH XW1; Wall-mounted liminaire with forward 2 nr 300 600 cabling etc. in MEPH throw lighting distribution XW2; Wall-mounted luminaire with up/down 2 nr 300 600 lighting distribution XW4; Wall-mounted luminaire with downward 8 nr 300 2,400 lighting distribution S1; Benching with inset lighting; concrete 36 nr 3,500 124,250 cabling etc. in MEPH 1200mm long x 500mm x 450mm high wide with hardwood timber top Visitor cycle stands; including excavation, 14 nr 600 8,400 concrete base etc. Allowance for bins 2 nr 1,000 2,000 Allowance for concrete seating blocks 450mm 13 nr 1,750 22,750 with hardwood timber top G1; 1100mm galvanised steel; single gate to 3 nr 1,500 4,500 private gardens G2; 1100mm high; hardwood and galvanised 1 nr 3,000 3,000 steel double gate to play area PL1; play piece 1, hard wood timber play posts, 6 nr 300 1,800 natural finish, upright, undulating height 250 - 500 mm PL2; play piece 2, natural stone play boulders 14 nr 900 12,600 PL3; play piece 3, "off the peg" hard wood 2 nr 7,500 15,000 timber play pieces, e.g.Climbing Stack and Climbing Pyramid by Timberplay
85 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
EXTERNAL WORKS AND PUBLIC REALM GIA (m²): 25,369 Landscape area (m2): 2,077 £/m² £/ft² Ref Description Qty Unit Rate Total Total £ % Comments GIA GIA PL4; play piece 4, bespoke, movable, 6 nr 2,500 15,000 interlocking, hardwood play piece Boulders within landscape allowance 4 nr 500 2,000 SS; allowance for stepping stones feature 38 m 500 19,000 Allowance for retractable vehicle bollards 1 item 40,000 40,000 367,900
1.4 L01 Podium Landscaping £526,000 £21 £2 20.3 B1; metal painted balustrade with timber 62 m 1,250 77,500 handrail; 1100mm high; to private terraces G1; 1100mm galvanised steel; single gate to 7 nr 1,500 10,500 private gardens P1; Clay paver; Colour 1 to Private amenity 208 m² 300 62,400 P6; hardwood timber decking 35 m² 250 8,750 P?; other paved finish 69 m² 300 20,700 PL5; hardwood timber running boards 43 m 500 21,500 E7; 200mm wide x 500mm high PCC planter 151 m 750 113,250 including soil E8; 200mm wide x 1100mm high PCC planter 123 m 1,250 153,750 including soil E9; 125mm wide x 1100 high PCC planter 33 m 1,000 33,000 Allowance for planting to planters at podium Item 25,000 level 526,350
Total (£) £2,591,000 £102 £9 100
86 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Appendix D
Apartment Fit Out - Private (Market Rent/ Sale)
87 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
01.A - 1B/2P | Private Apartment NIA: 53 sq.m 570 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 70 m2 45 3,164 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 29 m2 27 791 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape 32 m2 30 967 and jointing Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 2 nr 800 1,600 Single door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 650 0 Double door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 950 2,850 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 2 nr 600 1,200
Sub Total - Internal Walls and Doors 11,402 19.99 Wall Finishes Finish to internal face of external walls; emulsion paint 32 m2 8 258 Finish to both sides of all internal partitions; emulsion paint 121 m2 8 972 Finish to one side of all party & corridor walls; emulsion paint 29 m2 8 234 Skirting to all walls; painted MDF; 150mm x 15mm 39 m 0 0 Paint finish to bathrooms and ensuites 10 m2 8 77
88 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 2 m2 60 144 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 7 m2 60 432 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,467 4.32 Floor Finishes Allowance for floor build-up; screed with resilient layer 53 m2 15 795 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 36 m2 100 3,600 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 13 m2 55 715 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 80 320 Skirting to bathrooms None shown
Sub Total - Floor Finishes 5,430 9.52 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 53 m2 45 2,385 Allowance for access hatches; assumed 2 per apartment 2 nr 250 500 Allowance for blind boxes 5 m 100 500 E.O. for forming bulkheads 1 nr 350 350
Sub Total - Ceiling Finishes 3,735 6.55 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 1 nr 10,775 10,775 Allowance for 2 bed 0 nr 11,775 0 Allowance for 3 bed 0 nr 12,775 0 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 800 800
89 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 600 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 500 500 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 14,375 25.20
Sanitary Appliances WC 1 nr 1,065 1,065 Wash hand basin Inc. taps 1 nr 610 610 Bath including taps 1 nr 1,150 1,150 Extra for fixed shower head over bath 1 nr 650 650 Separate Shower including cubicle and shower tray 0 nr 1,150 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 434
Sub Total - Sanitary Appliances 3,909 6.85
Sub Total (excl. MEP Fit Out) 41,318 72.43
MEP Fit Out (refer to MEP section for detail) 570 m2 57 32,419 56.83
Total Unit Type Fit Out 73,737 129.25
90 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
01.B - 1B/2P | Private Apartment NIA: 49 sq.m 527 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 70 m2 45 3,164 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 12 m2 27 316 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 26 m2 30 791 Allowance for tile backer to kitchens; assumed 0.6m high 3 m2 25 75 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 2 nr 800 1,600 Single door; to utility cupboards etc.; painted solid core; including ironmongery 4 nr 650 2,600 Double door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 950 0 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 2 nr 600 1,200
Sub Total - Internal Walls and Doors 10,237 19.41 Wall Finishes Finish to internal face of external walls; emulsion paint 26 m2 8 211 Finish to both sides of all internal partitions; emulsion paint 121 m2 8 972 Finish to one side of all party & corridor walls; emulsion paint 12 m2 8 94 Skirting to all walls; painted MDF; 150mm x 15mm 49 m 0 0 Paint finish to bathrooms and ensuites 10 m2 8 77 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; overall wall tiling to 50% 2 m2 60 144 of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled area; overall wall tiling 7 m2 60 432 to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,279 4.32 Floor Finishes Allowance for floor build-up; screed with resilient layer 49 m2 15 735 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 33 m2 100 3,300 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 12 m2 55 660 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 80 320 Skirting to bathrooms None shown
Sub Total - Floor Finishes 5,015 9.51
91 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Ceiling Finishes Suspended drylined ceiling to all areas; including paint 49 m2 45 2,205 Allowance for access hatches; assumed 2 per apartment 2 nr 250 500 Allowance for blind boxes 7 m 100 700 E.O. for forming bulkheads 1 nr 350 350
Sub Total - Ceiling Finishes 3,755 7.12 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 1 nr 10,775 10,775 Allowance for 2 bed 0 nr 11,775 0 Allowance for 3 bed 0 nr 12,775 0 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 800 800 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500 Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 600 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 500 500 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 14,375 27.25
Sub Total (excl. MEP Fit Out) 35,661 67.6126
MEP Fit Out (refer to MEP section for detail) 527 m2 61 32,419 61.4658
Total Unit Type Fit Out 68,080 129.078
92 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
01.C - 1B/2P | Private Apartment NIA: 51 sq.m 549 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 64 m2 45 2,901 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 26 m2 27 712 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 41 m2 30 1,231 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 2 nr 800 1,600 Single door; to utility cupboards etc.; painted solid core; including ironmongery 2 nr 650 1,300 Double door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 950 950 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 2 nr 600 1,200
Sub Total - Internal Walls and Doors 10,473 19.08 Wall Finishes Finish to internal face of external walls; emulsion paint 41 m2 8 328 Finish to both sides of all internal partitions; emulsion paint 110 m2 8 878 Finish to one side of all party & corridor walls; emulsion paint 26 m2 8 211 Skirting to all walls; painted MDF; 150mm x 15mm 47 m 0 0 Paint finish to bathrooms and ensuites 10 m2 8 77 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; overall wall tiling to 50% of 2 m2 60 144 walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled area; overall wall tiling to 7 m2 60 432 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,420 4.41 Floor Finishes Allowance for floor build-up; screed with resilient layer 51 m2 15 765 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 34 m2 100 3,400 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 13 m2 55 715 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 80 320 Skirting to bathrooms None shown
93 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Sub Total - Floor Finishes 5,200 9.47 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 51 m2 45 2,295 Allowance for access hatches; assumed 2 per apartment 2 nr 250 500 Allowance for blind boxes 7 m 100 700 E.O. for forming bulkheads 1 nr 350 350
Sub Total - Ceiling Finishes 3,845 7.00 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 1 nr 10,775 10,775 Allowance for 2 bed 0 nr 11,775 0 Allowance for 3 bed 0 nr 12,775 0 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 800 800 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500 Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 600 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 500 500 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 14,375 26.19
Sub Total (excl. MEP Fit Out) 36,313 66.1488
MEP Fit Out (refer to MEP section for detail) 549 m2 59 32,419 59.0554
Total Unit Type Fit Out 68,732 125.204
94 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
01.D - 1B/2P | Private Apartment NIA: 54 sq.m 581 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 70 m2 45 3,164 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 35 m2 27 949 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape 23 m2 30 703 and jointing Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 2 nr 800 1,600 Single door; to utility cupboards etc.; painted solid core; including ironmongery 4 nr 650 2,600 Double door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 950 0 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 2 nr 600 1,200
Sub Total - Internal Walls and Doors 11,047 19.01 Wall Finishes Finish to internal face of external walls; emulsion paint 23 m2 8 188 Finish to both sides of all internal partitions; emulsion paint 121 m2 8 972 Finish to one side of all party & corridor walls; emulsion paint 35 m2 8 281 Skirting to all walls; painted MDF; 150mm x 15mm 44 m 0 0 Paint finish to bathrooms and ensuites 10 m2 8 77 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 2 m2 60 144 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 7 m2 60 432 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,443 4.20 Floor Finishes 95 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for floor build-up; screed with resilient layer 54 m2 15 810 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 36 m2 100 3,600 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 14 m2 55 770 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 80 320 Skirting to bathrooms None shown
Sub Total - Floor Finishes 5,500 9.46 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 54 m2 45 2,430 Allowance for access hatches; assumed 2 per apartment 2 nr 250 500 Allowance for blind boxes 7 m 100 700 E.O. for forming bulkheads 1 nr 350 350
Sub Total - Ceiling Finishes 3,980 6.85 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 1 nr 10,775 10,775 Allowance for 2 bed 0 nr 11,775 0 Allowance for 3 bed 0 nr 12,775 0 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 800 800 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 600 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 500 500
96 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 14,375 24.73
Sanitary Appliances WC 1 nr 1,065 1,065 Wash hand basin Inc. taps 1 nr 610 610 Bath including taps 1 nr 1,150 1,150 Extra for fixed shower head over bath 1 nr 650 650 Separate Shower including cubicle and shower tray 0 nr 1,150 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 434
Sub Total - Sanitary Appliances 3,909 6.73
Sub Total (excl. MEP Fit Out) 41,254 70.98
MEP Fit Out (refer to MEP section for detail) 581 m2 56 32,419 55.77
Total Unit Type Fit Out 73,673 126.75
97 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
02.A - 2B/4P | Private Apartment NIA: 77 sq.m 829 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 53 m2 45 2,373 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 35 m2 27 949 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape 38 m2 30 1,143 Allowance for tile backer to kitchens; assumed 0.6m high 2 m2 25 60 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 3 nr 800 2,400 Single door; to utility cupboards etc.; painted solid core; including ironmongery 7 nr 650 4,550 Double door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 950 0 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 2 nr 600 1,200
Sub Total - Internal Walls and Doors 13,415 16.19 Wall Finishes Finish to internal face of external walls; emulsion paint 38 m2 8 305 Finish to both sides of all internal partitions; emulsion paint 78 m2 8 623 Finish to one side of all party & corridor walls; emulsion paint 35 m2 8 281 Skirting to all walls; painted MDF; 150mm x 15mm 69 m 0 0 Paint finish to bathrooms and ensuites 18 m2 8 144 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 5 m2 60 270 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 14 m2 60 810 area; overall wall tiling to 50% of walls
98 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,783 3.36 Floor Finishes Allowance for floor build-up; screed with resilient layer 77 m2 15 1,155 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 47 m2 100 4,700 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 26 m2 55 1,430 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 7 m2 80 560 Skirting to bathrooms None shown
Sub Total - Floor Finishes 7,845 9.47 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 77 m2 45 3,465 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 11 m 100 1,100 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,015 7.26 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 10,775 0 Allowance for 2 bed 1 nr 11,775 11,775 Allowance for 3 bed 0 nr 12,775 0 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 2 nr 800 1,600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 600 0
99 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 500 500 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 16,425 19.82
Sanitary Appliances WC 2 nr 1,065 2,130 Wash hand basin Inc. taps 2 nr 610 1,220 Bath including taps 1 nr 1,150 1,150 Extra for fixed shower head over bath 1 nr 650 650 Separate Shower including cubicle and shower tray 1 nr 1,150 1,150 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 788
Sub Total - Sanitary Appliances 7,088 8.55
Sub Total (excl. MEP Fit Out) 53,571 64.64
MEP Fit Out (refer to MEP section for detail) 829 m2 52 43,124 52.03
Total Unit Type Fit Out 96,695 116.67
100 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
02.B - 2B/4P | Private Apartment NIA: 70 sq.m 753 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 105 m2 45 4,747 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 18 m2 27 475 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 41 m2 30 1,231 Allowance for tile backer to kitchens; assumed 0.6m high 3 m2 25 75 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 4 nr 800 3,200 Single door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 650 650 Double door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 950 2,850 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 2 nr 600 1,200
Sub Total - Internal Walls and Doors 14,917 19.80 Wall Finishes Finish to internal face of external walls; emulsion paint 41 m2 8 328 Finish to both sides of all internal partitions; emulsion paint 183 m2 8 1,467 Finish to one side of all party & corridor walls; emulsion paint 18 m2 8 141 Skirting to all walls; painted MDF; 150mm x 15mm 69 m 0 0 Paint finish to bathrooms and ensuites 18 m2 8 144 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; overall wall tiling to 50% of 2 m2 60 144 walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled area; overall wall tiling to 7 m2 60 432 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 3,006 3.99 Floor Finishes Allowance for floor build-up; screed with resilient layer 70 m2 15 1,050 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 43 m2 100 4,300 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 23 m2 55 1,265 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 80 320 Skirting to bathrooms None shown
101 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Sub Total - Floor Finishes 6,935 9.20 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 70 m2 45 3,150 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 11 m 100 1,100 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 5,700 7.56 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 10,775 0 Allowance for 2 bed 1 nr 11,775 11,775 Allowance for 3 bed 0 nr 12,775 0 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 800 800 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500 Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 600 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 500 500 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 15,375 20.41
Sub Total (excl. MEP Fit Out) 45,933 60.9611
MEP Fit Out (refer to MEP section for detail) 753 m2 57 43,124 57.2336
Total Unit Type Fit Out 89,057 118.195
102 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
02.C - 2B/3P | Private Apartment NIA: 71 sq.m 764 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 85 m2 45 3,824 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 32 m2 27 870 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape 29 m2 30 879 and jointing Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 4 nr 800 3,200 Single door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 650 1,950 Double door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 950 950 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 0 nr 600 0
Sub Total - Internal Walls and Doors 12,503 16.36 Wall Finishes Finish to internal face of external walls; emulsion paint 29 m2 8 234 Finish to both sides of all internal partitions; emulsion paint 151 m2 8 1,206 Finish to one side of all party & corridor walls; emulsion paint 32 m2 8 258 Skirting to all walls; painted MDF; 150mm x 15mm 65 m 0 0 Paint finish to bathrooms and ensuites 10 m2 8 77 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 5 m2 60 270 overall wall tiling to 50% of walls
103 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 14 m2 60 810 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 3,205 4.19 Floor Finishes Allowance for floor build-up; screed with resilient layer 71 m2 15 1,065 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 47 m2 100 4,700 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 20 m2 55 1,100 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 7 m2 80 560 Skirting to bathrooms None shown
Sub Total - Floor Finishes 7,425 9.72 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 71 m2 45 3,195 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 14 m 100 1,400 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,045 7.91 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 10,775 0 Allowance for 2 bed 1 nr 11,775 11,775 Allowance for 3 bed 0 nr 12,775 0 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 2 nr 800 1,600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500 Extra over for bathroom pods - Removed
104 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 2 m 600 900 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 0 nr 500 0 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 16,825 22.02
Sanitary Appliances WC 2 nr 1,065 2,130 Wash hand basin Inc. taps 2 nr 610 1,220 Bath including taps 1 nr 1,150 1,150 Extra for fixed shower head over bath 1 nr 650 650 Separate Shower including cubicle and shower tray 1 nr 1,150 1,150 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 788
Sub Total - Sanitary Appliances 7,088 9.27
Sub Total (excl. MEP Fit Out) 53,090 69.47
MEP Fit Out (refer to MEP section for detail) 764 m2 56 43,124 56.43
Total Unit Type Fit Out 96,214 125.90
105 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
03.A - 3B/5P | Private Apartment NIA: 88 sq.m 947 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 138 m2 45 6,197 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 18 m2 27 475 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape 35 m2 30 1,055 and jointing Allowance for tile backer to kitchens; assumed 0.6m high 5 m2 25 120 Allowance for tile backer to bathrooms; to 50% of wall area 18 m2 25 450 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 5 nr 800 4,000 Single door; to utility cupboards etc.; painted solid core; including ironmongery 6 nr 650 3,900 Double door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 950 0 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 3 nr 600 1,800
Sub Total - Internal Walls and Doors 18,496 19.53 Wall Finishes Finish to internal face of external walls; emulsion paint 35 m2 8 281 Finish to both sides of all internal partitions; emulsion paint 239 m2 8 1,915 Finish to one side of all party & corridor walls; emulsion paint 18 m2 8 141 Skirting to all walls; painted MDF; 150mm x 15mm 79 m 0 0 Paint finish to bathrooms and ensuites 18 m2 8 144
106 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 5 m2 60 270 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 14 m2 60 810 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 3,911 4.13 Floor Finishes Allowance for floor build-up; screed with resilient layer 88 m2 15 1,320 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 47 m2 100 4,700 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 34 m2 55 1,870 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 7 m2 80 560 Skirting to bathrooms None shown
Sub Total - Floor Finishes 8,450 8.92 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 88 m2 45 3,960 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 9 m 100 900 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,310 6.66 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 10,775 0 Allowance for 2 bed 0 nr 11,775 0 Allowance for 3 bed 1 nr 12,775 12,775 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 2 nr 800 1,600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300
107 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 600 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 500 500 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 17,425 18.40
Sanitary Appliances WC 2 nr 1,065 2,130 Wash hand basin Inc. taps 2 nr 610 1,220 Bath including taps 1 nr 1,150 1,150 Extra for fixed shower head over bath 1 nr 650 650 Separate Shower including cubicle and shower tray 1 nr 1,150 1,150 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 788
Sub Total - Sanitary Appliances 7,088 7.48
Sub Total (excl. MEP Fit Out) 61,680 65.12
MEP Fit Out (refer to MEP section for detail) 947 m2 53 49,845 52.62
Total Unit Type Fit Out 111,525 117.74
108 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
03.B - 3B/5P | Private Apartment NIA: 86 sq.m 926 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 126 m2 45 5,670 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 23 m2 27 633 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape 59 m2 30 1,758 and jointing Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 18 m2 25 450 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 5 nr 800 4,000 Single door; to utility cupboards etc.; painted solid core; including ironmongery 6 nr 650 3,900 Double door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 950 950 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 4 nr 600 2,400
Sub Total - Internal Walls and Doors 20,350 21.98 Wall Finishes Finish to internal face of external walls; emulsion paint 59 m2 8 469 Finish to both sides of all internal partitions; emulsion paint 216 m2 8 1,728 Finish to one side of all party & corridor walls; emulsion paint 23 m2 8 188 Skirting to all walls; painted MDF; 150mm x 15mm 77 m 0 0 Paint finish to bathrooms and ensuites 18 m2 8 144 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 5 m2 60 270 overall wall tiling to 50% of walls
109 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 14 m2 60 810 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 3,958 4.28 Floor Finishes Allowance for floor build-up; screed with resilient layer 86 m2 15 1,290 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 46 m2 100 4,600 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 33 m2 55 1,815 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 7 m2 80 560 Skirting to bathrooms None shown
Sub Total - Floor Finishes 8,265 8.93 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 86 m2 45 3,870 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 9 m 100 900 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,220 6.72 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 10,775 0 Allowance for 2 bed 0 nr 11,775 0 Allowance for 3 bed 1 nr 12,775 12,775 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 2 nr 800 1,600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500
110 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 600 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 500 500 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 17,425 18.82
Sanitary Appliances WC 2 nr 1,065 2,130 Wash hand basin Inc. taps 2 nr 610 1,220 Bath including taps 1 nr 1,150 1,150 Extra for fixed shower head over bath 1 nr 650 650 Separate Shower including cubicle and shower tray 1 nr 1,150 1,150 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 788
Sub Total - Sanitary Appliances 7,088 7.66
Sub Total (excl. MEP Fit Out) 63,306 68.39
MEP Fit Out (refer to MEP section for detail) 926 m2 54 49,845 53.85
Total Unit Type Fit Out 113,151 122.23
111 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
03.C - 3B/5P | Private Apartment NIA: 86 sq.m 926 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 141 m2 45 6,329 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 35 m2 27 949 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 44 m2 30 1,319 Allowance for tile backer to kitchens; assumed 0.6m high 4.2 m2 25 105 Allowance for tile backer to bathrooms; to 50% of wall area 16 m2 25 390 Allowance for patressing 1 item 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 5 nr 800 4,000 Single door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 650 1,950 Double door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 950 2,850 Sliding single pocket door; painted solid core; including ironmongery 0 nr 1,000 0 Doors to built-in wardrobes 2 nr 600 1,200
Sub Total - Internal Walls and Doors 19,342 20.89 Wall Finishes Finish to internal face of external walls; emulsion paint 44 m2 8 352 Finish to both sides of all internal partitions; emulsion paint 250 m2 8 2,001 Finish to one side of all party & corridor walls; emulsion paint 35 m2 8 281 Skirting to all walls; painted MDF; 150mm x 15mm 77 m 0 0 Paint finish to bathrooms and ensuites 16 m2 8 125 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; overall wall tiling 4 m2 60 234 to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled area; overall 12 m2 60 702 wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 4,044 4.37
112 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Floor Finishes Allowance for floor build-up; screed with resilient layer 86 m2 15 1,290 Engineered hardwood flooring; to general areas; underlay; PC £50/sq.m 45 m2 100 4,530 Porcelain flooring; to separate kitchens; PC £20/sq.m 0 m2 70 0 Carpet flooring; to bedrooms; underlay; PC £40/sq.m 35 m2 55 1,925 Carpet flooring; to stairs; underlay; PC £40/sq.m 0 m2 55 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 6 m2 80 456 Skirting to bathrooms None shown
Sub Total - Floor Finishes 8,201 8.86 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 86 m2 45 3,870 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 9 m 100 900 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,220 6.72 Fittings & Finishes Kitchens; white lacquered cabinets; Corian worktop; porcelain tiled splashback; sink and tap; integrated hob and oven; fridge/freezer; dishwasher; Siemens or similar; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 10,775 0 Allowance for 2 bed 0 nr 11,775 0 Allowance for 3 bed 1 nr 12,775 12,775 Allowance for 4 bed 0 nr 13,275 0 Allowance for 5 bed 0 nr 13,775 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 800 800 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 500 500
113 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 600 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 500 500 Blinds Excluded
Sub Total - Fittings & Finishes 16,625 17.96
Sub Total (excl. MEP Fit Out) 54,432 58.8011
MEP Fit Out (refer to MEP section for detail) 926 m2 54 49,845 53.846
Total Unit Type Fit Out 104,277 112.647
114 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Appendix E
Apartment Fit Out - Affordable (Social Replacement/ Social Rent/ Intermediate Affordable Rent/ Intermediate Ownership)
115 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
01.A - 1B/2P | Affordable Apartment NIA: 53 sq.m 570 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 70 m2 45 3,164 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 29 m2 27 791 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 32 m2 30 967 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 2 nr 650 1,300 Single door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 450 0 Double door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 800 2,400 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 10,352 18.15 Wall Finishes Finish to internal face of external walls; emulsion paint 32 m2 8 258 Finish to both sides of all internal partitions; emulsion paint 121 m2 8 972 Finish to one side of all party & corridor walls; emulsion paint 29 m2 8 234 Skirting to all walls; painted MDF; 150mm x 15mm 39 m 0 None shown Paint finish to bathrooms and ensuites 10 m2 8 77 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 2 m2 60 144 overall wall tiling to 50% of walls
116 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 7 m2 60 432 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 300 300 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,417 4.24 Floor Finishes Allowance for floor build-up; screed with resilient layer 53 m2 15 795 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 36 m2 55 1,980 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 13 m2 35 455 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 60 240 Skirting to bathrooms None shown
Sub Total - Floor Finishes 3,470 6.08 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 53 m2 45 2,385 Allowance for access hatches; assumed 2 per apartment 2 nr 250 500 Allowance for blind boxes 5 m 100 500 E.O. for forming bulkheads 1 nr 350 350
Sub Total - Ceiling Finishes 3,735 6.55 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 1 nr 3,500 3,500 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500
117 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 300 300 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 500 500
Sub Total - Fittings & Finishes 6,150 10.78
Sanitary Appliances WC 1 nr 500 500 Wash hand basin Inc. taps 1 nr 373 373 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 0 nr 730 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 247
Sub Total - Sanitary Appliances 2,220 3.89
Sub Total (excl. MEP Fit Out) 28,344 49.68
MEP Fit Out (refer to MEP section for detail) 570 m2 49 28,079 49.22
Total Unit Type Fit Out 56,422 98.90
118 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
01.B - 1B/2P | Affordable Apartment NIA: 49 sq.m 527 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 70 m2 45 3,164 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 12 m2 27 316 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 26 m2 30 791 Allowance for tile backer to kitchens; assumed 0.6m high 3 m2 25 75 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 2 nr 650 1,300 Single door; to utility cupboards etc.; painted solid core; including ironmongery 4 nr 450 1,800 Double door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 800 0 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 9,087 17.23 Wall Finishes Finish to internal face of external walls; emulsion paint 26 m2 8 211 Finish to both sides of all internal partitions; emulsion paint 121 m2 8 972 Finish to one side of all party & corridor walls; emulsion paint 12 m2 8 94 Skirting to all walls; painted MDF; 150mm x 15mm 49 m 0 None shown Paint finish to bathrooms and ensuites 10 m2 8 77
119 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 2 m2 60 144 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 7 m2 60 432 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 300 300 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,229 4.23 Floor Finishes Allowance for floor build-up; screed with resilient layer 49 m2 15 735 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 33 m2 55 1,815 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 12 m2 35 420 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 60 240 Skirting to bathrooms None shown
Sub Total - Floor Finishes 3,210 6.09 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 49 m2 45 2,205 Allowance for access hatches; assumed 2 per apartment 2 nr 250 500 Allowance for blind boxes 7 m 100 700 E.O. for forming bulkheads 1 nr 350 350
Sub Total - Ceiling Finishes 3,755 7.12 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 1 nr 3,500 3,500 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 300 300 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350
120 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 500 500
Sub Total - Fittings & Finishes 6,150 11.66
Sanitary Appliances WC 1 nr 500 500 Wash hand basin Inc. taps 1 nr 373 373 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 0 nr 730 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 247
Sub Total - Sanitary Appliances 2,220 4.21
Sub Total (excl. MEP Fit Out) 26,651 50.53
MEP Fit Out (refer to MEP section for detail) 527 m2 53 28,079 53.24
Total Unit Type Fit Out 54,729 103.77
121 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
01.C - 1B/2P | Affordable Apartment NIA: 51 sq.m 549 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 64 m2 45 2,901 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 26 m2 27 712 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 41 m2 30 1,231 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 2 nr 650 1,300 Single door; to utility cupboards etc.; painted solid core; including ironmongery 2 nr 450 900 Double door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 800 800 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 9,573 17.44 Wall Finishes Finish to internal face of external walls; emulsion paint 41 m2 8 328 Finish to both sides of all internal partitions; emulsion paint 110 m2 8 878 Finish to one side of all party & corridor walls; emulsion paint 26 m2 8 211 Skirting to all walls; painted MDF; 150mm x 15mm 47 m 0 None shown Paint finish to bathrooms and ensuites 10 m2 8 77
122 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 2 m2 60 144 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 7 m2 60 432 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 300 300 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,370 4.32 Floor Finishes Allowance for floor build-up; screed with resilient layer 51 m2 15 765 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 34 m2 55 1,870 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 13 m2 35 455 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 60 240 Skirting to bathrooms None shown
Sub Total - Floor Finishes 3,330 6.07 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 51 m2 45 2,295 Allowance for access hatches; assumed 2 per apartment 2 nr 250 500 Allowance for blind boxes 7 m 100 700 E.O. for forming bulkheads 1 nr 350 350
Sub Total - Ceiling Finishes 3,845 7.00 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 1 nr 3,500 3,500 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 300 300 Allowance for bath panel; tiling included elsewhere 1 nr 300 300
123 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 500 500
Sub Total - Fittings & Finishes 6,150 11.20
Sanitary Appliances WC 1 nr 500 500 Wash hand basin Inc. taps 1 nr 373 373 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 0 nr 730 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 247
Sub Total - Sanitary Appliances 2,220 4.04
Sub Total (excl. MEP Fit Out) 27,488 50.07
MEP Fit Out (refer to MEP section for detail) 549 m2 51 28,079 51.15
Total Unit Type Fit Out 55,566 101.22
124 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
01.D - 1B/2P | Affordable Apartment NIA: 54 sq.m 581 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 70 m2 45 3,164 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 35 m2 27 949 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 23 m2 30 703 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 2 nr 650 1,300 Single door; to utility cupboards etc.; painted solid core; including ironmongery 4 nr 450 1,800 Double door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 800 0 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 9,647 16.60 Wall Finishes Finish to internal face of external walls; emulsion paint 23 m2 8 188 Finish to both sides of all internal partitions; emulsion paint 121 m2 8 972 Finish to one side of all party & corridor walls; emulsion paint 35 m2 8 281 Skirting to all walls; painted MDF; 150mm x 15mm 44 m 0 None shown Paint finish to bathrooms and ensuites 10 m2 8 77
125 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 2 m2 60 144 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 7 m2 60 432 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 300 300 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,393 4.12 Floor Finishes Allowance for floor build-up; screed with resilient layer 54 m2 15 810 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 36 m2 55 1,980 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 14 m2 35 490 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 60 240 Skirting to bathrooms None shown
Sub Total - Floor Finishes 3,520 6.06 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 54 m2 45 2,430 Allowance for access hatches; assumed 2 per apartment 2 nr 250 500 Allowance for blind boxes 7 m 100 700 E.O. for forming bulkheads 1 nr 350 350
Sub Total - Ceiling Finishes 3,980 6.85 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 1 nr 3,500 3,500 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 300 300 Allowance for bath panel; tiling included elsewhere 1 nr 300 300
126 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 500 500
Sub Total - Fittings & Finishes 6,150 10.58
Sanitary Appliances WC 1 nr 500 500 Wash hand basin Inc. taps 1 nr 373 373 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 0 nr 730 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 247
Sub Total - Sanitary Appliances 2,220 3.82
Sub Total (excl. MEP Fit Out) 27,910 48.02
MEP Fit Out (refer to MEP section for detail) 581 m2 48 28,079 48.31
Total Unit Type Fit Out 55,988 96.32
127 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
01.E - 1B/2P | Affordable Apartment NIA: 64 sq.m 689 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 73 m2 45 3,296 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 56 m2 27 1,503 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 44 m2 30 1,319 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 105 Allowance for tile backer to bathrooms; to 50% of wall area 11 m2 25 270 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 2 nr 650 1,300 Single door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 450 0 Double door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 800 800 Sliding single pocket door; painted solid core; including ironmongery 1 nr 800 800 Doors to built-in wardrobes 4 nr 450 1,800
Sub Total - Internal Walls and Doors 11,693 16.97 Wall Finishes Finish to internal face of external walls; emulsion paint 44 m2 8 352 Finish to both sides of all internal partitions; emulsion paint 125 m2 8 999 Finish to one side of all party & corridor walls; emulsion paint 56 m2 8 445 Skirting to all walls; painted MDF; 150mm x 15mm 58 m 0 None shown Paint finish to bathrooms and ensuites 11 m2 8 86 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 3 m2 60 162 overall wall tiling to 50% of walls
128 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 8 m2 60 486 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 300 300 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,831 4.11 Floor Finishes Allowance for floor build-up; screed with resilient layer 64 m2 15 960 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 39 m2 55 2,145 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 20 m2 35 700 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 5 m2 60 300 Skirting to bathrooms None shown
Sub Total - Floor Finishes 4,105 5.96 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 64 m2 45 2,880 Allowance for access hatches; assumed 2 per apartment 2 nr 250 500 Allowance for blind boxes 8 m 100 800 E.O. for forming bulkheads 1 nr 350 350
Sub Total - Ceiling Finishes 4,530 6.58 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 1 nr 3,500 3,500 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 300 300 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0
129 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 500 500
Sub Total - Fittings & Finishes 6,150 8.93
Sanitary Appliances WC 1 nr 500 500 Wash hand basin Inc. taps 1 nr 373 373 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 0 nr 730 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 247
Sub Total - Sanitary Appliances 2,220 3.22
Sub Total (excl. MEP Fit Out) 31,528 45.77
MEP Fit Out (refer to MEP section for detail) 689 m2 41 28,079 40.76
Total Unit Type Fit Out 59,607 86.53
130 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
02.A - 2B/4P | Affordable Apartment NIA: 77 sq.m 829 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 53 m2 45 2,373 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 35 m2 27 949 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 38 m2 30 1,143 Allowance for tile backer to kitchens; assumed 0.6m high 2 m2 25 60 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 3 nr 650 1,950 Single door; to utility cupboards etc.; painted solid core; including ironmongery 7 nr 450 3,150 Double door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 800 0 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 11,265 13.59 Wall Finishes Finish to internal face of external walls; emulsion paint 38 m2 8 305 Finish to both sides of all internal partitions; emulsion paint 78 m2 8 623 Finish to one side of all party & corridor walls; emulsion paint 35 m2 8 281 Skirting to all walls; painted MDF; 150mm x 15mm 69 m 0 None shown Paint finish to bathrooms and ensuites 18 m2 8 144
131 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 2 m2 60 144 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 7 m2 60 432 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,279 2.75 Floor Finishes Allowance for floor build-up; screed with resilient layer 77 m2 15 1,155 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 47 m2 55 2,585 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 26 m2 35 910 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 60 240 Skirting to bathrooms None shown
Sub Total - Floor Finishes 4,890 5.90 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 77 m2 45 3,465 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 11 m 100 1,100 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,015 7.26 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 1 nr 4,250 4,250 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 300 300 Allowance for bath panel; tiling included elsewhere 1 nr 300 300
132 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 7,050 8.51
Sanitary Appliances WC 1 nr 500 500 Wash hand basin Inc. taps 1 nr 373 373 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 0 nr 730 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 247
Sub Total - Sanitary Appliances 2,220 2.68
Sub Total (excl. MEP Fit Out) 33,719 40.68
MEP Fit Out (refer to MEP section for detail) 829 m2 46 37,953 45.79
Total Unit Type Fit Out 71,672 86.48
133 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
02.B - 2B/4P | Affordable Apartment NIA: 70 sq.m 753 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 105 m2 45 4,747 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 18 m2 27 475 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 41 m2 30 1,231 Allowance for tile backer to kitchens; assumed 0.6m high 3 m2 25 75 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 4 nr 650 2,600 Single door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 450 450 Double door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 800 2,400 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 13,617 18.07 Wall Finishes Finish to internal face of external walls; emulsion paint 41 m2 8 328 Finish to both sides of all internal partitions; emulsion paint 183 m2 8 1,467 Finish to one side of all party & corridor walls; emulsion paint 18 m2 8 141 Skirting to all walls; painted MDF; 150mm x 15mm 69 m 0 None shown Paint finish to bathrooms and ensuites 18 m2 8 144 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 2 m2 60 144 overall wall tiling to 50% of walls
134 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 7 m2 60 432 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 3,006 3.99 Floor Finishes Allowance for floor build-up; screed with resilient layer 70 m2 15 1,050 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 43 m2 55 2,365 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 23 m2 35 805 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 60 240 Skirting to bathrooms None shown
Sub Total - Floor Finishes 4,460 5.92 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 70 m2 45 3,150 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 11 m 100 1,100 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 5,700 7.56 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 1 nr 4,250 4,250 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 300 300 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed
135 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 7,050 9.36
Sanitary Appliances WC 1 nr 500 500 Wash hand basin Inc. taps 1 nr 373 373 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 0 nr 730 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 247
Sub Total - Sanitary Appliances 2,220 2.95
Sub Total (excl. MEP Fit Out) 36,052 47.85
MEP Fit Out (refer to MEP section for detail) 753 m2 50 37,953 50.37
Total Unit Type Fit Out 74,005 98.22
136 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
02.C - 2B/3P | Affordable Apartment NIA: 71 sq.m 764 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 85 m2 45 3,824 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 32 m2 27 870 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 29 m2 30 879 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 10 m2 25 240 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 4 nr 650 2,600 Single door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 450 1,350 Double door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 800 800 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 0 nr 450 0
Sub Total - Internal Walls and Doors 11,153 14.59 Wall Finishes Finish to internal face of external walls; emulsion paint 29 m2 8 234 Finish to both sides of all internal partitions; emulsion paint 151 m2 8 1,206 Finish to one side of all party & corridor walls; emulsion paint 32 m2 8 258 Skirting to all walls; painted MDF; 150mm x 15mm 65 m 0 None shown Paint finish to bathrooms and ensuites 10 m2 8 77
137 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 2 m2 60 144 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 7 m2 60 432 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 2,701 3.53 Floor Finishes Allowance for floor build-up; screed with resilient layer 71 m2 15 1,065 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 47 m2 55 2,585 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 20 m2 35 700 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 4 m2 60 240 Skirting to bathrooms None shown
Sub Total - Floor Finishes 4,590 6.01 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 71 m2 45 3,195 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 14 m 100 1,400 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,045 7.91 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 1 nr 4,250 4,250 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 0 nr 250 0 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 1 nr 300 300 Allowance for bath panel; tiling included elsewhere 1 nr 300 300
138 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 1.5 m 450 675 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 0 nr 350 0 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 7,375 9.65
Sanitary Appliances WC 1 nr 500 500 Wash hand basin Inc. taps 1 nr 373 373 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 0 nr 730 0 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 247
Sub Total - Sanitary Appliances 2,220 2.90
Sub Total (excl. MEP Fit Out) 34,083 44.60
MEP Fit Out (refer to MEP section for detail) 764 m2 50 37,953 49.66
Total Unit Type Fit Out 72,037 94.26
139 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
03.A - 3B/5P | Affordable Apartment NIA: 88 sq.m 947 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 138 m2 45 6,197 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 18 m2 27 475 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 35 m2 30 1,055 Allowance for tile backer to kitchens; assumed 0.6m high 4.8 m2 25 120 Allowance for tile backer to bathrooms; to 50% of wall area 18 m2 25 450 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 5 nr 650 3,250 Single door; to utility cupboards etc.; painted solid core; including ironmongery 6 nr 450 2,700 Double door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 800 0 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 3 nr 450 1,350
Sub Total - Internal Walls and Doors 16,096 16.99 Wall Finishes Finish to internal face of external walls; emulsion paint 35 m2 8 281 Finish to both sides of all internal partitions; emulsion paint 239 m2 8 1,915 Finish to one side of all party & corridor walls; emulsion paint 18 m2 8 141 Skirting to all walls; painted MDF; 150mm x 15mm 79 m 0 None shown Paint finish to bathrooms and ensuites 18 m2 8 144 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 5 m2 60 270 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 14 m2 60 810 area; overall wall tiling to 50% of walls
140 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 3,911 4.13 Floor Finishes Allowance for floor build-up; screed with resilient layer 88 m2 15 1,320 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 47 m2 55 2,585 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 34 m2 35 1,190 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 7 m2 60 420 Skirting to bathrooms None shown
Sub Total - Floor Finishes 5,515 5.82 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 88 m2 45 3,960 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 9 m 100 900 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,310 6.66 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 1 nr 5,000 5,000 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0
141 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 8,350 8.82
Sanitary Appliances WC 2 nr 500 1,000 Wash hand basin Inc. taps 2 nr 373 746 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 447
Sub Total - Sanitary Appliances 4,023 4.25
Sub Total (excl. MEP Fit Out) 44,206 46.67
MEP Fit Out (refer to MEP section for detail) 947 m2 46 43,643 46.07
Total Unit Type Fit Out 87,849 92.74
142 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
03.B - 3B/5P | Affordable Apartment NIA: 86 sq.m 926 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 126 m2 45 5,670 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 23 m2 27 633 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 59 m2 30 1,758 Allowance for tile backer to kitchens; assumed 0.6m high 3.6 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 18 m2 25 450 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 5 nr 650 3,250 Single door; to utility cupboards etc.; painted solid core; including ironmongery 6 nr 450 2,700 Double door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 800 800 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 4 nr 450 1,800
Sub Total - Internal Walls and Doors 17,650 19.07 Wall Finishes Finish to internal face of external walls; emulsion paint 59 m2 8 469 Finish to both sides of all internal partitions; emulsion paint 216 m2 8 1,728 Finish to one side of all party & corridor walls; emulsion paint 23 m2 8 188 Skirting to all walls; painted MDF; 150mm x 15mm 77 m 0 None shown Paint finish to bathrooms and ensuites 18 m2 8 144 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 5 m2 60 270 overall wall tiling to 50% of walls
143 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 14 m2 60 810 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 3,958 4.28 Floor Finishes Allowance for floor build-up; screed with resilient layer 86 m2 15 1,290 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 46 m2 55 2,530 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 33 m2 35 1,155 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 7 m2 60 420 Skirting to bathrooms None shown
Sub Total - Floor Finishes 5,395 5.83 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 86 m2 45 3,870 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 9 m 100 900 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,220 6.72 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 1 nr 5,000 5,000 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0
144 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 8,350 9.02
Sanitary Appliances WC 2 nr 500 1,000 Wash hand basin Inc. taps 2 nr 373 746 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 0 12.5% 447
Sub Total - Sanitary Appliances 4,023 4.35
Sub Total (excl. MEP Fit Out) 45,597 49.26
MEP Fit Out (refer to MEP section for detail) 926 m2 47 43,643 47.15
Total Unit Type Fit Out 89,240 96.40
145 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
03.C - 3B/5P | Affordable Apartment NIA: 86 sq.m 926 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 0 item 10,000 0
Sub Total - Staircases 0 0.00 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 141 m2 45 6,329 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 44 m2 27 1,187 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 44 m2 30 1,319 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 105 Allowance for tile backer to bathrooms; to 50% of wall area 16 m2 25 390 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 5 nr 650 3,250 Single door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 450 1,350 Double door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 800 2,400 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 17,729 19.15 Wall Finishes Finish to internal face of external walls; emulsion paint 44 m2 8 352 Finish to both sides of all internal partitions; emulsion paint 250 m2 8 2,001 Finish to one side of all party & corridor walls; emulsion paint 44 m2 8 352 Skirting to all walls; painted MDF; 150mm x 15mm 77 m 0 None shown Paint finish to bathrooms and ensuites 16 m2 8 125 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 4 m2 60 234 overall wall tiling to 50% of walls
146 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 12 m2 60 702 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 350 350 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 4,115 4.44 Floor Finishes Allowance for floor build-up; screed with resilient layer 86 m2 15 1,290 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 45 m2 55 2,492 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 35 m2 35 1,225 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 0 m2 65 0 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 6 m2 60 342 Skirting to bathrooms None shown
Sub Total - Floor Finishes 5,349 5.78 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 86 m2 45 3,870 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 9 m 100 900 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 6,220 6.72 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 1 nr 5,000 5,000 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0
147 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 8,350 9.02
Sanitary Appliances WC 2 nr 500 1,000 Wash hand basin Inc. taps 2 nr 373 746 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 0 12.5% 447
Sub Total - Sanitary Appliances 4,023 4.35
Sub Total (excl. MEP Fit Out) 45,785 49.46
MEP Fit Out (refer to MEP section for detail) 926 m2 47 43,643 47.15
Total Unit Type Fit Out 89,428 96.61
148 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
03.D - 3B/5P DUPLEX | Affordable Apartment NIA: 114 sq.m 1227 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 1 item 10,000 10,000
Sub Total - Staircases 10,000 8.15 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 179 m2 45 8,043 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 35 m2 27 949 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 41 m2 30 1,231 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 18 m2 25 450 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 5 nr 650 3,250 Single door; to utility cupboards etc.; painted solid core; including ironmongery 2 nr 450 900 Double door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 800 2,400 Sliding single pocket door; painted solid core; including ironmongery 1 nr 800 800 Doors to built-in wardrobes 4 nr 450 1,800
Sub Total - Internal Walls and Doors 20,413 16.64 Wall Finishes Finish to internal face of external walls; emulsion paint 41 m2 8 328 Finish to both sides of all internal partitions; emulsion paint 321 m2 8 2,572 Finish to one side of all party & corridor walls; emulsion paint 35 m2 8 281 Skirting to all walls; painted MDF; 150mm x 15mm 109 m 0 None shown Paint finish to bathrooms and ensuites 18 m2 8 144
149 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 5 m2 60 270 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 14 m2 60 810 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 450 450 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 4,855 3.96 Floor Finishes Allowance for floor build-up; screed with resilient layer 114 m2 15 1,710 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 55 m2 55 3,025 Porcelain flooring; to separate kitchens; PC £30/sq.m 11 m2 60 660 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 37 m2 35 1,295 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 4 m2 65 260 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 7 m2 60 420 Skirting to bathrooms None shown
Sub Total - Floor Finishes 7,370 6.01 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 114 m2 45 5,130 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 15 m 100 1,500 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 8,080 6.58 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 1 nr 5,000 5,000 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300
150 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 8,350 6.80
Sanitary Appliances WC 2 nr 500 1,000 Wash hand basin Inc. taps 2 nr 373 746 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 0 12.5% 447
Sub Total - Sanitary Appliances 4,023 3.28
Sub Total (excl. MEP Fit Out) 63,091 51.42
MEP Fit Out (refer to MEP section for detail) 1227 m2 36 43,643 35.57
Total Unit Type Fit Out 106,734 86.98
151 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
03.E - 3B/5P DUPLEX | Affordable Apartment NIA: 105 sq.m 1130 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 1 item 10,000 10,000
Sub Total - Staircases 10,000 8.85 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 176 m2 45 7,911 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 88 m2 27 2,373 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 44 m2 30 1,326 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 19 m2 25 480 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 6 nr 650 3,900 Single door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 450 1,350 Double door; to utility cupboards etc.; painted solid core; including ironmongery 1 nr 800 800 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 19,630 17.37 Wall Finishes Finish to internal face of external walls; emulsion paint 44 m2 8 354 Finish to both sides of all internal partitions; emulsion paint 313 m2 8 2,506 Finish to one side of all party & corridor walls; emulsion paint 87.9 m2 8 703 Skirting to all walls; painted MDF; 150mm x 15mm 92 m 0 None shown Paint finish to bathrooms and ensuites 19 m2 8 154 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 5 m2 60 288 overall wall tiling to 50% of walls
152 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 14 m2 60 864 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 450 450 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 5,318 4.71 Floor Finishes Allowance for floor build-up; screed with resilient layer 105 m2 15 1,575 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 45 m2 55 2,475 Porcelain flooring; to separate kitchens; PC £30/sq.m 12 m2 60 720 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 36 m2 35 1,260 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 3 m2 65 195 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 9 m2 60 540 Skirting to bathrooms None shown
Sub Total - Floor Finishes 6,765 5.99 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 105 m2 45 4,725 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 13 m 100 1,300 E.O. for forming bulkheads 2 nr 350 700
Sub Total - Ceiling Finishes 7,475 6.61 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 1 nr 5,000 5,000 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 0 nr 350 0 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 0 nr 500 0 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 1 item 350 350 Extra over for bathroom pods - Removed
153 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 650 650
Sub Total - Fittings & Finishes 8,350 7.39
Sanitary Appliances WC 2 nr 500 1,000 Wash hand basin Inc. taps 2 nr 373 746 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 0 12.5% 447
Sub Total - Sanitary Appliances 4,023 3.56
Sub Total (excl. MEP Fit Out) 61,561 54.47
MEP Fit Out (refer to MEP section for detail) 1130 m2 39 43,643 38.61
Total Unit Type Fit Out 105,204 93.08
154 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
04.A - 4B/7P DUPLEX | Affordable Apartment NIA: 139 sq.m 1496 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 1 item 10,000 10,000
Sub Total - Staircases 10,000 6.68 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 237 m2 45 10,680 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 59 m2 27 1,582 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 32 m2 30 967 Allowance for tile backer to kitchens; assumed 0.6m high 4.8 m2 25 120 Allowance for tile backer to bathrooms; to 50% of wall area 26 m2 25 660 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 7 nr 650 4,550 Single door; to utility cupboards etc.; painted solid core; including ironmongery 2 nr 450 900 Double door; to utility cupboards etc.; painted solid core; including ironmongery 5 nr 800 4,000 Sliding single pocket door; painted solid core; including ironmongery 1 nr 800 800 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 25,659 17.15 Wall Finishes Finish to internal face of external walls; emulsion paint 32 m2 8 258 Finish to both sides of all internal partitions; emulsion paint 422 m2 8 3,375 Finish to one side of all party & corridor walls; emulsion paint 59 m2 8 469 Skirting to all walls; painted MDF; 150mm x 15mm 109 m 0 None shown Paint finish to bathrooms and ensuites 26 m2 8 211 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 7 m2 60 396 overall wall tiling to 50% of walls
155 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 20 m2 60 1,188 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 500 500 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 6,397 4.28 Floor Finishes Allowance for floor build-up; screed with resilient layer 139 m2 15 2,085 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 65 m2 55 3,575 Porcelain flooring; to separate kitchens; PC £30/sq.m 13 m2 60 780 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 47 m2 35 1,645 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 4 m2 65 260 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 10 m2 60 600 Skirting to bathrooms None shown
Sub Total - Floor Finishes 8,945 5.98 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 139 m2 45 6,255 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 16 m 100 1,600 E.O. for forming bulkheads 3 nr 350 1,050
Sub Total - Ceiling Finishes 9,655 6.45 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 1 nr 6,000 6,000 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 1 nr 350 350 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 1 nr 500 500 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 2 item 350 700 Extra over for bathroom pods - Removed
156 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 1 nr 350 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 600 600
Sub Total - Fittings & Finishes 10,500 7.02
Sanitary Appliances WC 3 nr 500 1,500 Wash hand basin Inc. taps 3 nr 373 1,119 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 556
Sub Total - Sanitary Appliances 5,005 3.35
Sub Total (excl. MEP Fit Out) 76,161 50.90
MEP Fit Out (refer to MEP section for detail) 1496 m2 37 55,646 37.19
Total Unit Type Fit Out 131,807 88.10
157 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
04.B - 4B/6P DUPLEX | Affordable Apartment NIA: 135 sq.m 1453 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 1 item 12,500 12,500
Sub Total - Staircases 12,500 8.60 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 229 m2 45 10,284 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 64 m2 27 1,740 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 70 m2 30 2,110 Allowance for tile backer to kitchens; assumed 0.6m high 4.8 m2 25 120 Allowance for tile backer to bathrooms; to 50% of wall area 26 m2 25 660 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 9 nr 650 5,850 Single door; to utility cupboards etc.; painted solid core; including ironmongery 0 nr 450 0 Double door; to utility cupboards etc.; painted solid core; including ironmongery 4 nr 800 3,200 Sliding single pocket door; painted solid core; including ironmongery 2 nr 800 1,600 Doors to built-in wardrobes 4 nr 450 1,800
Sub Total - Internal Walls and Doors 27,864 19.18 Wall Finishes Finish to internal face of external walls; emulsion paint 70 m2 8 563 Finish to both sides of all internal partitions; emulsion paint 404 m2 8 3,234 Finish to one side of all party & corridor walls; emulsion paint 64 m2 8 516 Skirting to all walls; painted MDF; 150mm x 15mm 127 m 0 None shown Paint finish to bathrooms and ensuites 26 m2 8 211
158 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 7 m2 60 396 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 20 m2 60 1,188 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 500 500 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 6,608 4.55 Floor Finishes Allowance for floor build-up; screed with resilient layer 135 m2 15 2,025 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 59 m2 55 3,245 Porcelain flooring; to separate kitchens; PC £30/sq.m 16 m2 60 960 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 46 m2 35 1,610 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 4 m2 65 260 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 10 m2 60 600 Skirting to bathrooms None shown
Sub Total - Floor Finishes 8,700 5.99 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 135 m2 45 6,075 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 10 m 100 1,000 E.O. for forming bulkheads 3 nr 350 1,050
Sub Total - Ceiling Finishes 8,875 6.11 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 1 nr 6,000 6,000 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 1 nr 350 350 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 1 nr 500 500 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300
159 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 2 item 350 700 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 0 m 450 0 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 2 nr 350 700 Blinds Excluded Allowance for shelving to utility cupboards 1 item 600 600
Sub Total - Fittings & Finishes 10,850 7.47
Sanitary Appliances WC 3 nr 500 1,500 Wash hand basin Inc. taps 3 nr 373 1,119 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 556
Sub Total - Sanitary Appliances 5,005 3.44
Sub Total (excl. MEP Fit Out) 80,402 55.33
MEP Fit Out (refer to MEP section for detail) 1453 m2 38 55,646 38.29
Total Unit Type Fit Out 136,048 93.62
160 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
04.C - AFFORDABLE - 4b/6p Bedroom Duplex Apartment NIA: 118 sq.m 1270 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 1 item 12,500 12,500
Sub Total - Staircases 12,500 9.84 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 208 m2 45 9,361 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 85 m2 27 2,294 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 97 m2 30 2,901 Allowance for tile backer to kitchens; assumed 0.6m high 2.4 m2 25 60 Allowance for tile backer to bathrooms; to 50% of wall area 26 m2 25 660 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 8 nr 650 5,200 Single door; to utility cupboards etc.; painted solid core; including ironmongery 2 nr 450 900 Double door; to utility cupboards etc.; painted solid core; including ironmongery 4 nr 800 3,200 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 25,976 20.45 Wall Finishes Finish to internal face of external walls; emulsion paint 97 m2 8 774 Finish to both sides of all internal partitions; emulsion paint 363 m2 8 2,906 Finish to one side of all party & corridor walls; emulsion paint 85 m2 8 680 Skirting to all walls; painted MDF; 150mm x 15mm 116 m 0 None shown Paint finish to bathrooms and ensuites 26 m2 8 211 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 7 m2 60 396 overall wall tiling to 50% of walls
161 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 20 m2 60 1,188 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 500 500 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 6,655 5.24 Floor Finishes Allowance for floor build-up; screed with resilient layer 118 m2 15 1,770 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 51 m2 55 2,805 Porcelain flooring; to separate kitchens; PC £30/sq.m 8 m2 60 480 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 45 m2 35 1,575 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 4 m2 65 260 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 10 m2 60 600 Skirting to bathrooms None shown
Sub Total - Floor Finishes 7,490 5.90 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 118 m2 45 5,310 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 9 m 100 900 E.O. for forming bulkheads 3 nr 350 1,050
Sub Total - Ceiling Finishes 8,010 6.31 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 1 nr 6,000 6,000 Allowance for 5 bed 0 nr 6,500 0 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 1 nr 350 350 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 1 nr 500 500 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 2 item 350 700 Extra over for bathroom pods - Removed Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 1 m 450 450
162 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 0 nr 350 0 Blinds Excluded Allowance for shelving to utility cupboards 1 item 600 600
Sub Total - Fittings & Finishes 10,600 8.35
Sanitary Appliances WC 3 nr 500 1,500 Wash hand basin Inc. taps 3 nr 373 1,119 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 556
Sub Total - Sanitary Appliances 5,005 3.94
Sub Total (excl. MEP Fit Out) 76,236 60.02
MEP Fit Out (refer to MEP section for detail) 1270 m2 44 55,646 43.81
Total Unit Type Fit Out 131,882 103.83
163 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
04.D - AFFORDABLE - 4 Bedroom Duplex Apartment NIA: 136 sq.m 1467 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 1 item 10,000 10,000
Sub Total - Staircases 10,000 6.82 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 204 m2 45 9,182 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 41 m2 27 1,108 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape 2 and jointing 78 m 30 2,333 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 105 Allowance for tile backer to bathrooms; to 50% of wall area 27 m2 25 674 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 7 nr 650 4,550 Single door; to utility cupboards etc.; painted solid core; including ironmongery 4 nr 450 1,800 Double door; to utility cupboards etc.; painted solid core; including ironmongery 2 nr 800 1,600 Sliding single pocket door; painted solid core; including ironmongery 1 nr 800 800 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 23,552 16.05 Wall Finishes Finish to internal face of external walls; emulsion paint 78 m2 8 622 Finish to both sides of all internal partitions; emulsion paint 354 m2 8 2,831 Finish to one side of all party & corridor walls; emulsion paint 41 m2 8 328 Skirting to all walls; painted MDF; 150mm x 15mm 90 m None shown Paint finish to bathrooms and ensuites 27 m2 8 218 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 7 m2 60 405 overall wall tiling to 50% of walls Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 20 m2 60 1,214 area; overall wall tiling to 50% of walls
164 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for mastic per apartment 1 Item 500 500 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 6,118 4.17 Floor Finishes Allowance for floor build-up; screed with resilient layer 136 m2 15 2,045 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 72 m2 55 3,977 Porcelain flooring; to separate kitchens; PC £30/sq.m 9 m2 60 540 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 42 m2 35 1,470 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 3 m2 65 195 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 10 m2 60 600 Skirting to bathrooms None shown
Sub Total - Floor Finishes 8,826 6.02 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 136 m2 45 6,134 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 15 m 100 1,500 E.O. for forming bulkheads 3 nr 350 1,050
Sub Total - Ceiling Finishes 9,434 6.43 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed nr 3,500 Allowance for 2 bed nr 4,250 Allowance for 3 bed nr 5,000 Allowance for 4 bed 1 nr 6,000 6,000 Allowance for 5 bed nr 6,500 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 1 nr 350 350 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 1 nr 500 500 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 2 item 350 700 Extra over for bathroom pods - Removed 0 nr 0 0 Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 2 m 450 990 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded
165 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance built in wardrobe rail and shelf nr 350 Blinds Excluded Allowance for shelving to utility cupboards 1 item 600 600
Sub Total - Fittings & Finishes 11,140 7.59
Sanitary Appliances WC 3 nr 500 1,500 Wash hand basin Inc. taps 3 nr 373 1,119 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 556
Sub Total - Sanitary Appliances 5,005 3.41
Sub Total (excl. MEP Fit Out) 74,075 50.49
MEP Fit Out (refer to MEP section for detail) 55,646 37.9
Total Unit Type Fit Out 129,721 88.42
166 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
AFFORDABLE - 5b/8p Bedroom Duplex Apartment NIA: 150 sq.m 1609 sq.ft
Ref Description Qty Unit Rate Total Total £
Staircases Duplex stairs; timber staircase; one storey; L-shaped 1 item 10,000 10,000
Sub Total - Staircases 10,000 6.21 Internal Walls and Doors Internal Walls Partitions within rooms; 2 x double skin dry lined partitions; insulation; including tape and jointing 208 m2 45 9,361 Wall lining to structural walls; double skin dry lined lining; insulation; including tape and jointing 50 m2 27 1,345 Wall lining to internal face of external wall; double skin dry lined lining; insulation incl. in ext. wall; including membrane, tape and jointing 111 m2 30 3,340 Allowance for tile backer to kitchens; assumed 0.6m high 4 m2 25 90 Allowance for tile backer to bathrooms; to 50% of wall area 26 m2 25 660 Allowance for patressing 1 item 250 250 Allowance for patressing to utility cupboard walls 1 m2 250 250 Internal Doors Apartment entrance door; timber veneer Incl. within Shell & Core Single door; painted solid core; including ironmongery 11 nr 650 7,150 Single door; to utility cupboards etc.; painted solid core; including ironmongery 4 nr 450 1,800 Double door; to utility cupboards etc.; painted solid core; including ironmongery 3 nr 800 2,400 Sliding single pocket door; painted solid core; including ironmongery 0 nr 800 0 Doors to built-in wardrobes 2 nr 450 900
Sub Total - Internal Walls and Doors 27,546 17.12 Wall Finishes Finish to internal face of external walls; emulsion paint 111 m2 8 891 Finish to both sides of all internal partitions; emulsion paint 363 m2 8 2,906 Finish to one side of all party & corridor walls; emulsion paint 50 m2 8 398 Skirting to all walls; painted MDF; 150mm x 15mm 124 m 0 None shown Paint finish to bathrooms and ensuites 26 m2 8 211 Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor'; 600x300mm; assumed 25% of tiled area; 7 m2 60 396 overall wall tiling to 50% of walls
167 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Tiling to bathroom and WCs; porcelain tiles; Domus 'Black Peak Lined Décor' textured; 600x300mm; assumed 75% of tiled 20 m2 60 1,188 area; overall wall tiling to 50% of walls Allowance for mastic per apartment 1 Item 500 500 Splashback to kitchens Included within kitchen
Sub Total - Internal Walls and Doors 6,490 4.03 Floor Finishes Allowance for floor build-up; screed with resilient layer 149.5 m2 15 2,243 Engineered laminate flooring; to general areas; underlay; PC £30/sq.m 70.5 m2 55 3,878 Porcelain flooring; to separate kitchens; PC £30/sq.m 0 m2 60 0 Carpet flooring; to bedrooms; underlay; PC £15/sq.m 61 m2 35 2,135 Engineered laminate flooring; to stairs; underlay; PC £20/sq.m 3 m2 65 195 Porcelain flooring; to bathrooms and ensuites; 600x300mm; PC£30/sq.m 15 m2 60 900 Skirting to bathrooms None shown
Sub Total - Floor Finishes 9,350 5.81 Ceiling Finishes Suspended drylined ceiling to all areas; including paint 149.5 m2 45 6,728 Allowance for access hatches; assumed 3 per apartment 3 nr 250 750 Allowance for blind boxes 16 m 100 1,600 E.O. for forming bulkheads 3 nr 350 1,050
Sub Total - Ceiling Finishes 10,128 6.29 Fittings & Finishes Kitchens; white lacquered cabinets; laminate worktop; porcelain tiled splashback; sink and tap; freestanding hob and oven; fridge/freezer; dishwasher; cabinet quantities in accordance with London Housing Design Guide Allowance for 1 bed 0 nr 3,500 0 Allowance for 2 bed 0 nr 4,250 0 Allowance for 3 bed 0 nr 5,000 0 Allowance for 4 bed 0 nr 6,000 0 Allowance for 5 bed 1 nr 6,500 6,500 Bathroom vanity unit to family bathroom 1 nr 350 350 Bathroom vanity unit to master ensuite 1 nr 350 350 Bathroom vanity unit to WCs 1 nr 250 250 Bathroom medicine cabinet to family bathroom 1 nr 500 500 Bathroom medicine cabinet to master ensuite 1 nr 500 500 Allowance for shower screen 2 nr 300 600 Allowance for bath panel; tiling included elsewhere 1 nr 300 300 Allowance for bathroom fittings; family bathrooms; 2 x robe hooks; toilet roll holder 2 item 350 700 Extra over for bathroom pods - Removed
168 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Allowance for built-in wardrobes; to master; sliding doors; proprietary system; draw packs excluded 1.2 m 450 540 Allowance for built-in wardrobes; to other bedrooms; sliding doors; proprietary system; draw packs excluded Excluded Allowance built in wardrobe rail and shelf 0 nr 350 0 Blinds Excluded Allowance for shelving to utility cupboards 1 item 600 600
Sub Total - Fittings & Finishes 11,190 6.95
Sanitary Appliances WC 3 nr 500 1,500 Wash hand basin Inc. taps 3 nr 373 1,119 Bath including taps 1 nr 600 600 Extra for fixed shower head over bath 1 nr 500 500 Separate Shower including cubicle and shower tray 1 nr 730 730 Kitchen sink including taps - incl. in Kitchen fit out 1 nr Incl. in Kitchen Washing machine - Included in FF&E 1 nr Incl. in Kitchen Tumble Dryer - Included in FF&E 1 nr Incl. in Kitchen Dishwasher - Included in FF&E 1 nr Incl. in Kitchen Sub-contractor preliminaries 12.5% 556
Sub Total - Sanitary Appliances 5,005 3.11
Sub Total (excl. MEP Fit Out) 79,710 49.53
MEP Fit Out (refer to MEP section for detail) 74,050 46.0
Total Unit Type Fit Out 153,760 95.55
169 EBURY BRIDGE ESTATE Job No. : 35852 STAGE 3 COST PLAN Client :Westminster City Council PHASE 1 - BLOCK 7 AND 8 Issue Date : 20 May 2020 Base Date : 1Q 2020
Appendix F
Reconciliation
170 EBURY BRIDGE ESTATE STAGE 3 COST PLANNING
STAGE 3 TO STAGE 3 VE COMPARISON AND RECONCILIATION
ELEMENT STAGE 3 COST PLAN - DRAFT STAGE 3 COST PLAN - VE VARIANCE (2) (MAR-2020) £ £/m² £ £/m² £ GIA m² 25,549 25,369
Site Infrastructure Works 1,775,000 69.5 1,725,000 68.0 (50,000) Substructure/ Basement 9,347,500 365.9 8,975,800 353.8 (371,700) Structural Frame, Upper Floors and Stairs 9,051,500 354.3 8,919,500 351.6 (132,000) External Walls, Windows, Doors and Balconies 20,467,400 801.1 19,519,600 769.4 (947,800)
Roofs and Terrace Finishes 2,580,200 101.0 2,451,400 96.6 (128,800) Internal Partitions and Doors 3,235,200 126.6 3,154,400 124.3 (80,800) Internal Finishes 1,658,400 64.9 1,626,400 64.1 (32,000) Fittings 690,000 27.0 680,000 26.8 (10,000) MEPH Services Installation 8,235,600 322.3 7,489,200 295.2 (746,400) Lifts 1,448,000 56.7 1,448,000 57.1 0 Sub-Total 58,488,800 2,289.3 55,989,300 2,207.0 (2,499,500) Fit Out - Private 5,598,800 219.1 6,201,100 244.4 602,300 Fit Out - Affordable 12,508,100 489.6 11,690,900 460.8 (817,200) Sub-Total 76,595,700 2,998.0 73,881,300 2,912.3 (2,714,400) External Works and Public Realm 2,569,000 100.6 2,591,000 102.1 22,000 Sub-Total 79,164,700 3,098.5 76,472,300 3,014.4 (2,692,400) Energy Centre 7,498,308 293.5 5,640,000 222.3 (1,858,308) Sub-Total 86,663,008 3,392.0 82,112,300 3,236.7 (4,550,708) Main Contractor's Prelims 15.0% 12,980,000 508.0 15.8% 12,980,000 511.6 0 Main Contractor's OH&P 4.5% 4,483,953 175.5 4.5% 4,279,136 168.7 (204,818) Main Contractor's Risk 2.0% 2,082,547 81.5 2.0% 1,987,421 78.3 (95,127) Sub-Total 106,209,509 4,157.1 101,358,856 3,995.4 (4,850,652) Contingencies 5.0% 5,310,495 207.9 5.0% 5,067,923 199.8 (242,573) Sub-Total 111,520,004 4,364.9 106,426,779 4,195.2 (5,093,225) Inflation 2,100,766 82.2 2,004,807 79.0 (95,959) EHV Cable 3,050,000 119.4 2,500,000 98.5 (550,000) TOTAL £116,670,000 £4,566.5 £110,930,000 £4,372.7 (5,740,000)
171 EBURY BRIDGE ESTATE - MASTERPLAN STAGE 3 COST MODEL Westminster City Council
20-May-20
Form No: GTF3080 Issue No: 1 Date: 06/19 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
CONTROL ISSUE SHEET
Prepared By Authorised By Revision Status (name/position/date) (name/position/date) Lee Usher - Partner/ Lee Usher - Partner/ Draft (1) Stage 3 Alexandra Lace - Partner | Alexandra Lace - Partner | 16 March 2020 16 March 2020 Lee Usher - Partner/ 20 Lee Usher - Partner/ 20 Draft (2) Stage 3 May 2020 May 2020
2 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
CONTENTS
1 Construction Cost Summary
2 Rev T unit Mix
3 Basis of Estimate, Assumptions and Exclusions
3 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
CONSTRUCTION COST SUMMARY Stage 3 Cost Plan Block 7 Block 8 Block 1 Block 2 GIA 12,599 m2 12,770 m2 4,189 m2 5,058 m2 CONSTRUCTION COST Total (£) £/m² GIA £/sq ft GIA % Total (£) £/m² GIA £/sq ft GIA % Total (£) £/m² GIA£/sq ft GIA % Total (£) £/m² GIA£/sq ft GIA % 0 Site Infrastructure Works 875,000 69 6.45 1.5% 850,000 67 6.18 1.7% 325,000 78 7.21 1.3% 325,000 64 5.97 1.5% 1 Substructure/ Basement 4,271,000 339 31.49 7.1% 4,704,800 368 34.23 9.4% 880,000 210 19.52 3.5% 1,850,000 366 33.98 8.3% 2 Structural Frame, Upper Floors and Stairs 4,536,000 360 33.45 7.5% 4,383,500 343 31.89 8.5% 1,400,000 334 31.05 5.5% 1,700,000 336 31.22 7.6% 3 External Walls, Windows and Doors 9,700,000 770 71.53 16.1% 9,819,600 769 71.44 19.6% 3,300,000 788 73.19 13.0% 4,000,000 791 73.47 17.9% 4 Roofs and Terrace Finishes 1,223,900 97 9.02 2.0% 1,227,500 96 8.93 2.5% 380,000 91 8.43 1.5% 470,000 93 8.63 2.1% 5 Internal Partitions and Doors 1,688,000 134 12.45 2.8% 1,466,400 115 10.67 2.9% 500,000 119 11.09 2.0% 600,000 119 11.02 2.7% 6 Internal Finishes 862,800 68 6.36 1.4% 763,600 60 5.56 1.5% 270,210 65 5.99 1.1% 326,367 65 5.99 1.5% 7 Fittings 390,000 31 2.88 0.6% 290,000 23 2.11 0.6% 144,112 34 3.20 0.6% 174,062 34 3.20 0.8% 8 MEPH Services Installation and Lifts 4,559,000 362 33.62 7.6% 4,378,200 343 31.85 9.1% 1,550,000 370 34.38 6.1% 1,880,000 372 34.53 8.4% Sub Total - Shell & Core 28,105,700 2,231 207.25 46.6% 27,883,600 2,184 202.86 55.8% 8,749,322 2,089 194.05 34.4% 11,325,429 2,239 208.01 50.7% 9 Fit Out - Private 4,709,800 374 34.73 7.8% 1,491,300 117 10.85 5.5% 2,280,000 544 50.57 9.0% 1,450,000 287 26.63 6.5% 10 Fit Out - Affordable 4,425,900 351 32.64 7.3% 7,265,000 569 52.85 11.5% 1,270,000 303 28.17 5.0% 2,250,000 445 41.32 10.1% Sub Total - Shell & Core + Fit Out 37,241,400 2,956 274.61 61.8% 36,639,900 2,869 266.56 72.8% 12,299,322 2,936 272.79 48.3% 15,025,429 2,970 275.97 67.3% 11 External Works & Public Realm 1,287,000 102 9.49 2.1% 1,304,000 102 9.49 2.5% 350,000 84 7.76 1.4% 650,000 129 11.94 2.9% 12 Energy Centres 5,640,000 448 41.59 9.4% - - 5,420,000 1,294 21.3% - - 0.0% 13 EHV 2,500,000 198 18 0 ------Sub Total - Building Works 46,668,400 3,704 344.13 77.4% 37,943,900 2,971 276.05 74.9% 18,069,322 4,314 400.77 71.0% 15,675,429 3,099 287.90 70.2% 14 Preconstruction Services fee Excl. - - - 0.0% - - - 0.0% - - - 0.0% - - - 0.0% 15 Main Contractor’s Preliminaries 14.5% 6,490,000 515 47.86 10.8% 6,490,000 508 47.22 12.8% 2,892,550 691 64.15 11.4% 2,436,335 482 44.75 10.9% 16 Main Contractor’s Overheads and Profit 4.5% 2,280,000 181 16.81 3.8% 2,000,000 157 14.55 3.9% 943,000 225 20.92 3.7% 815,000 161 14.97 3.6% 17 Main Contractor Risk 2.0% 1,059,000 84 7.81 1.8% 929,000 73 6.76 1.8% 438,000 105 9.71 1.7% 379,000 75 6.96 1.7% Total - Building Works 56,497,400 4,484 416.60 94% 47,362,900 3,709 344.57 93.5% 22,342,872 5,334 495.55 88% 19,305,765 3,817 354.58 86% 18 Design Development Risk 3.0% - - 0% - - 670,286 160 14.87 3% 579,173 115 10.64 3% 19 Construction Risk Allowance 5.0% 2,700,000 214 19.91 4.5% 2,368,000 185 17.23 4.7% 1,117,000 267 24.77 4.4% 965,000 191 17.72 4.3% Sub Total 59,197,400 4,699 436.51 98.2% 49,730,900 3,894 361.80 98.2% 24,130,158 5,761 535.19 94.8% 20,849,938 4,122 382.94 93.3% 20 Inflation Estimate - to Start on Site - Incl. 0.0% - - - 0.0% - - - 0.0% 859,178 205 19.06 3.4% 1,165,762 230 21.41 5.2% 21 Inflation Estimate - to Mid-Point 1.9% 1,068,000 85 7.88 1.8% 937,000 73 6.82 1.8% 454,552 109 10.08 1.8% 322,653 64 5.93 1.4% Total Estimated Construction Cost 60,265,000 4,783 444.39 100.0% 50,668,000 3,968 368.62 100.0% 25,444,000 6,074 564.33 100.0% 22,338,000 4,416 410.27 100.0% 25,369
4 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
CONSTRUCTION COST SUMMARY Future phases based on pro rata rates from phase 1. No remeasures. Areas reduced by 0.7% to reflect savings on phase 1. Block 3 Block 4 Block 5 Block 6 GIA 5,058 m2 4,189 m2 8,734 m2 11,154 m2 CONSTRUCTION COST Total (£) £/m² GIA£/sq ft GIA % Total (£) £/m² GIA £/sq ft GIA % Total (£) £/m² GIA £/sq ft GIA % Total (£) £/m² GIA £/sq ft GIA % 0 Site Infrastructure Works 325,000 64 5.97 1.4% 325,000 78 7.21 1.6% 775,000 89 8.24 1.9% 950,000 85 7.91 1.8% 1 Substructure/ Basement 1,850,000 366 33.98 8.2% 1,550,000 370 34.38 7.9% 2,300,000 263 24.47 5.7% 4,050,000 363 33.73 7.7% 2 Structural Frame, Upper Floors and Stairs 1,700,000 336 31.22 7.5% 1,450,000 346 32.16 7.4% 3,300,000 378 35.10 8.2% 4,200,000 377 34.98 8.0% 3 External Walls, Windows and Doors 4,000,000 791 73.47 17.6% 3,300,000 788 73.19 16.7% 7,400,000 847 78.72 18.4% 9,300,000 834 77.46 17.6% 4 Roofs and Terrace Finishes 470,000 93 8.63 2.1% 380,000 91 8.43 1.9% 900,000 103 9.57 2.2% 1,100,000 99 9.16 2.1% 5 Internal Partitions and Doors 600,000 119 11.02 2.6% 500,000 119 11.09 2.5% 1,100,000 126 11.70 2.7% 1,450,000 130 12.08 2.7% 6 Internal Finishes 326,367 65 5.99 1.4% 270,210 65 5.99 1.4% 638,588 73 6.79 1.6% 839,580 75 6.99 1.6% 7 Fittings 174,062 34 3.20 0.8% 157,623 38 3.50 0.8% 291,121 33 3.10 0.7% 419,790 38 3.50 0.8% 8 MEPH Services Installation and Lifts 1,880,000 372 34.53 8.3% 1,580,000 377 35.04 8.0% 3,350,000 384 35.64 8.3% 4,400,000 394 36.65 8.3% Sub Total - Shell & Core 11,325,429 2,239 208.01 49.9% 9,512,833 2,271 210.99 48.2% 20,054,709 2,296 213.33 49.8% 26,709,370 2,395 222.46 50.6% 9 Fit Out - Private 2,730,000 540 50.14 12.0% 2,680,000 640 59.44 13.6% 4,825,000 552 51.33 12.0% 5,375,000 482 44.77 10.2% 10 Fit Out - Affordable 1,250,000 247 22.96 5.5% 1,035,000 247 22.96 5.2% 3,040,000 348 32.34 7.5% 4,430,000 397 36.90 8.4% Sub Total - Shell & Core + Fit Out 15,305,429 3,026 281.11 67.5% 13,227,833 3,158 293.38 67.1% 27,919,709 3,197 296.99 69.3% 36,514,370 3,274 304.12 69.2% 11 External Works & Public Realm 650,000 129 11.94 2.9% 650,000 155 14.42 3.3% 900,000 103 9.57 2.2% 1,200,000 108 9.99 2.3% 12 Energy Centres - - 0.0% - 0.0% - - 0.0% - - 0.0% 13 EHV ------Sub Total - Building Works 15,955,429 3,154 293.05 70.3% 13,877,833 3,313 307.80 70.4% 28,819,709 3,300 306.57 71.6% 37,714,370 3,381 314.12 71.5% 14 Preconstruction Services fee Excl. - - - 0.0% - - - 0.0% - - - 0.0% - - - 0.0% 15 Main Contractor’s Preliminaries 14.5% 2,437,736 482 44.77 10.7% 2,111,512 504 46.83 10.7% 4,358,371 499 46.36 10.8% 5,763,272 517 48.00 10.9% 16 Main Contractor’s Overheads and Profit 4.5% 828,000 164 15.21 3.6% 720,000 172 15.97 3.7% 1,493,000 171 15.88 3.7% 1,956,000 175 16.29 3.7% 17 Main Contractor Risk 2.0% 384,000 76 7.05 1.7% 334,000 80 7.41 1.7% 693,000 79 7.37 1.7% 909,000 81 7.57 1.7% Total - Building Works 19,605,165 3,876 360.08 86% 17,043,345 4,069 378.01 86% 35,364,080 4,049 376.18 88% 46,342,642 4,155 385.98 88% 18 Design Development Risk 3.0% 588,155 116 10.80 3% 511,300 122 11.34 3% 1,060,922 121 11.29 3% 1,390,279 125 3% 19 Construction Risk Allowance 5.0% 980,000 194 18.00 4.3% 852,000 203 18.90 4.3% 1,768,000 202 18.81 4.4% 2,317,000 208 19.30 4.4% Sub Total 21,173,320 4,186 388.88 93.3% 18,406,645 4,394 408.25 93.3% 38,193,002 4,373 406.27 94.8% 50,049,921 4,487 416.86 94.8% 20 Inflation Estimate - to Start on Site - Incl. 0.0% 1,183,843 234 21.74 5.2% 1,029,152 246 22.83 5.2% 1,359,900 156 14.47 3.4% 1,782,077 160 14.84 3.4% 21 Inflation Estimate - to Mid-Point 1.9% 327,657 65 6.02 1.4% 284,843 68 6.32 1.4% 719,461 82 7.65 1.8% 942,815 85 7.85 1.8% Total Estimated Construction Cost 22,685,000 4,485 416.65 100.0% 19,721,000 4,708 437.40 100.0% 40,272,000 4,611 428.39 100.0% 52,775,000 4,731 439.55 100.0%
5 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
CONSTRUCTION COST SUMMARY Block 9 Total (£) GIA 14,382 m2 78,133 m2 CONSTRUCTION COST Total (£) £/m² GIA £/sq ft GIA % Total (£) £/m² GIA £/sq ft GIA % 0 Site Infrastructure Works 1,000,000 70 6.46 1.4% 5,750,000 74 6.84 1.6% 1 Substructure/ Basement 5,300,000 369 34.24 7.7% 26,755,800 342 31.81 7.4% 2 Structural Frame, Upper Floors and Stairs 5,300,000 369 34.24 7.7% 27,969,500 358 33.26 7.7% 3 External Walls, Windows and Doors 12,000,000 834 77.51 17.4% 62,819,600 804 74.69 17.3% 4 Roofs and Terrace Finishes 1,350,000 94 8.72 2.0% 7,501,400 96 8.92 2.1% 5 Internal Partitions and Doors 1,900,000 132 12.27 2.8% 9,804,400 125 11.66 2.7% 6 Internal Finishes 1,082,550 75 6.99 1.6% 5,380,272 69 6.40 1.5% 7 Fittings 494,880 34 3.20 0.7% 2,535,650 32 3.01 0.7% 8 MEPH Services Installation and Lifts 5,600,000 389 36.17 8.1% 29,177,200 373 34.69 8.0% Sub Total - Shell & Core 34,027,430 2,366 219.80 49.3% 177,693,822 2,274 211.28 48.9% 9 Fit Out - Private 10,400,000 723 67.18 15.1% 35,941,100 460 42.74 9.9% 10 Fit Out - Affordable 2,430,000 169 15.70 3.5% 27,395,900 351 32.57 7.5% Sub Total - Shell & Core + Fit Out 46,857,430 3,258 302.67 67.9% 241,030,822 3,085 286.59 66.4% 11 External Works & Public Realm 2,000,000 139 12.92 2.9% 8,991,000 115 10.69 2.5% 12 Energy Centres - - 0.0% 11,060,000 142 13.15 3.0% 13 EHV - - - 2,500,000 32 2.97 0.7% Sub Total - Building Works 48,857,430 3,397 315.59 70.8% 263,581,822 3,373 313.41 72.6% 14 Preconstruction Services fee Excl. - - - 0.0% - - - 0.0% 15 Main Contractor’s Preliminaries 14.5% 7,096,123 493 45.84 10.3% 40,075,899 513 47.65 11.0% 16 Main Contractor’s Overheads and Profit 4.5% 2,518,000 175 16.26 3.6% 13,553,000 173 16.11 3.7% 17 Main Contractor Risk 2.0% 1,169,000 81 7.55 1.7% 6,294,000 81 7.48 1.7% Total - Building Works 59,640,553 4,147 385.25 86% 323,504,722 4,140 384.66 89% 18 Design Development Risk 3.0% 1,789,217 124 3% 6,589,333 84 7.83 2% 19 Construction Risk Allowance 5.0% 2,982,000 207 19.26 4.3% 16,049,000 205 19.08 4.4% Sub Total 64,411,769 4,478 416.07 93.3% 346,143,054 4,430 411.57 95.3% 20 Inflation Estimate - to Start on Site - Incl. 0.0% 3,601,391 250 23.26 5.2% 10,981,304 141 13.06 3.0% 21 Inflation Estimate - to Mid-Point 1.9% 996,772 69 6.44 1.4% 6,053,753 77 7.20 1.7% Total Estimated Construction Cost 69,010,000 4,798 445.77 100.0% 363,178,000 4,648 431.83 100.0% Demolitions 10,073,000 129 11.98 - Total 373,251,000 4,777 444
6 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
7 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
ASSUMPTIONS & EXCLUSIONS
The following is a list of key Assumptions and Exclusions that apply to the Estimate of Cost:-
Key Assumptions Key Assumptions
Estimated costs have been prepared using current day pricing levels (Q1 2020), with separate 1 11 Meanwhile building costs have been excluded allowances included for Tender and Construction inflation.
Allowances have been included for Main Contractor preliminaries and Main Contractor's Areas are intended for the production of the Cost Estimate only and should not be relied upon 2 overheads and profit across all construction works. The Preliminaries allowance has been 12 for any other purpose. informed by the Stage 1 D&B Tender process which is currently ongoing. A construction risk allowance has been included to reflect the status of the Stage 3 design. There The project has been costed on the basis of current Building Regulations and makes no 3 is also a Main Contractor D&B Risk Allowance at 2% at this stage. This risk allowance will be allowance for the results of the Consultation Paper with Government regarding Banning the use confirmed as part of the Stage 2 negotiations. 13 of Combustible materials in the external walls of high-rise residential buildings and any other New build costs that have been discussed in principle with the Architects where not specifically further changes to the Building Regulations such as the introduction of secondary means of 4 noted in the Stage 3 documentation. escape etc.
Any specific client / other risk allowances deemed to be included elsewhere by the client and 5 have not been provisioned for within this Cost Estimate. 14 The designs comply with current Building Regulations
No allowance has been made for any phasing of this phase of the works or for working outside of 6 normal working hours. Phase 1 has been costed as a standalone phase. The Phase 1 and 2 costs are based on the Stage cost Plan, with the remaining phases based on 15 pro rata rates and adjuted areas to refelct the Stage 3 VE, inter alia no bath room pods, Demolition costs are included. reduced building footprint, reduced energy centre, HDPE drainage etc. 7
It is assumed that the site has good ground conditions and the building shall be supported on 8 piled foundations. 16 No areas have been measure for phases 2 or 3. Gross and Net internal areas have been measured in accordance with IPMS (International 9 Property Measurement Standards).
Gross and Net internal areas of the proposed buildings have been measured from the drawings 10 17 Costs relating from force majeure events (including but not limited to a global pandemic)” included in the drawing reference list.
8 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
ASSUMPTIONS & EXCLUSIONS
The following should be read in conjunction with the Cost Plan descriptions and are a list of inclusions / exclusions that have been used to inform the basis of our costs. The items highlighted as ‘included’ below have been allowed for within our Cost Estimate. No allowances have been costed for those items identified as ‘excluded’ below. The items noted under the heading ‘client’ are deemed to have been accounted for by the client elsewhere in their development appraisal. List of Inclusions / Exclusions Incl. Excl. Client List of Inclusions / Exclusions Incl. Excl. Client
Currency and exchange rate fluctuations 1 Value Added Tax X 11 X
Costs resulting from tariffs or other charges following the 2 Land acquisition costs and fees X 12 withdrawal of the UK from the European Union X
Costs resulting from zero carbon requirements or offset charges 3 Client finance, legal or marketing costs X 13 X
Statutory changes 4 Professional fees (e.g. design, PCSA, PM, surveys etc) X 14 X
5 Planning and building regulation fees X 15 Works outside of the site boundary except where specifically stated X
Fees or costs associated with rights of light agreement, party wall 6 X 16 Public art installations or contributions X awards or over-sailing agreements etc..
7 Project insurances including latent defects insurance X 17 Phasing of the works X
Works outside of normal working hours 8 Section 106 / 278 Contributions X 18 X
Mockups, prototypes, off site benchmark and the like 9 Community Infrastructure Levy Contributions or similar X 19 X
Fit out of any retail spaces, nursery, community/ constructed to Benefits arising from any potential Capital Allowances or other 10 X 20 shell & core only X government incentives / grants
9 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
ASSUMPTIONS & EXCLUSIONS
List of Inclusions / Exclusions Incl. Excl. Client List of Inclusions / Exclusions Incl. Excl. Client
21 Tenant’s costs or contributions X 31 Connection to district heating system X
22 Loose fittings, furnishings and equipment and external furniture X 32 Power factor correction and harmonics X
Audio visual installations and equipment 23 Asbestos removal X 33 X
24 Fees, works or costs associated with abnormal ground conditions X 34 Affordable Housing Contributions X
25 Underpinning of adjoining structures X 35 Rooftop ball court X
Archaeological investigations and exploratory or resulting works. 26 X 36 Fit out of internal gym/café areas X (Allowance for trenches and attendance in Demolition Budget)
Diversion of existing below ground services other than where Any gym/play equipment over and above those stated in the Cost 27 X 37 X known/ specifically included for. Model
28 Cost associated with LUL surveys and monitoring X 38 Upgrade/adjustments to retaining walls, except where stated X
29 Increased design criteria for bomb protection X 39 Meanwhile use buildings X
30 IT hardware / active hubs X 40 Ongoing maintenance of external works/ planting etc. X
10 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
ASSUMPTIONS & EXCLUSIONS
List of Inclusions / Exclusions Incl. Excl. Client List of Inclusions / Exclusions Incl. Excl. Client
Site inviestigation. Surveys and Trial Pits etc. Geotechnical 41 X 51 Specialist movement monitoring X Investigation being undertaken as a separate contract with WCC
42 Developer's Risk Allowance and overall Project Contingency X 52 Car lifts/ stackers X
43 Bathroom pods X 53 Uninterruptible Power Supply (UPS) X
44 Winter gardens X 54 Canopies to Terraces X
45 Enhanced finishes to penthouses X 55 Wireless containment X
46 Planting to terrances other than Podium level X 56 WELL building standard X
Architectrual finish concrete and cast in services. Architectural 47 Top down construction methods X 57 finish has only been allowed for in stair well with surface mounted X services
48 Impacts of Coronavirus X 58 X
49 Abnormal ground conditions and disposal of contaminated soil X 59 X
50 Vibration/ acoustic isolation X 60 X
11 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
This Cost Estimate has been prepared using the following design information and should be read in conjunction with all sections of this report.
Rev Drawing Reference List D.O.I. Drawing Number No. Architectural - astudio 28.2.2020
Apartment Plan Atlas 28.2.2020 EBE-AST-XX-XX-DR-A-060000
Building 8 Core Plans 28.2.2020 EBE-AST-XX-XX-DR-A-030701
Building 7 Core Plans 28.2.2020 EBE-AST-XX-XX-DR-A-030700
Building 8 Plant Level 28.2.2020 EBE-AST-XX-XX-DR-A-030486
Buiding 8 Typical Upper Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030485
Building 8 Typical Lower Floor and L13 Terrace 28.2.2020 EBE-AST-XX-XX-DR-A-030484
Building 7 Typical Upper and Plant Level Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030475
Building 7 Typical Lower and Floor 12 Terrace Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030474
Phase 1 Roof Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030115
Phase 1 Level 02 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030112
Phase 1 Level 01 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030111
Phase 1 Ground Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030110
Phase 1 Basement Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030109
Building 7 Cross and Long Sections 28.2.2020 EBE-AST-XX-XX-DR-A-030300
Interior Finishes - Affordable Homes 28.2.2020 EBE-AST-XX-XX-DR-A-000500
12 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Interior Finishes - Private Homes 28.2.2020 EBE-AST-XX-XX-DR-A-000501
Interior Finishes - Communal Areas 28.2.2020 EBE-AST-XX-XX-DR-A-000502
Masterplan Ground and First Floor 28.2.2020 EBE-AST-XX-XX-DR-A-030010
Masterplan Basement 28.2.2020 EBE-AST-XX-XX-DR-A-030009
Bay Study Typical Town Square Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070211
Bay Study Typical Duplex Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070204
Bay Study Typical Louvered Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070203 Bay Study B08 Residential Entrance 28.2.2020 EBE-AST-XX-XX-DR-A-070202 Bay Study Central Hub Entrance 28.2.2020 EBE-AST-XX-XX-DR-A-070201
Bay Study Axonometric View West 28.2.2020 EBE-AST-XX-XX-DR-A-070000
Bathroom Types 28.2.2020 EBE-AST-XX-XX-DR-A-060900
Section Typical Lower Floor Apartment 28.2.2020 EBE-AST-XX-XX-DR-A-060201
Section Duplex Apartment and Garden 28.2.2020 EBE-AST-XX-XX-DR-A-060200
B7 and B8 Typical Lower and Upper RCPs 28.2.2020 EBE-AST-XX-XX-DR-A-060102
B8 Ground and First Floor RCPs 28.2.2020 EBE-AST-XX-XX-DR-A-060101
5B Apartments Type 05.A 28.2.2020 EBE-AST-XX-XX-DR-A-060050
4B Apartments Type 04.D 28.2.2020 EBE-AST-XX-XX-DR-A-060042
4B Apartments Type 04.B, 04.C 28.2.2020 EBE-AST-XX-XX-DR-A-060041
4B Apartments Type 04.A 28.2.2020 EBE-AST-XX-XX-DR-A-060040
13 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
3B Apartments Types 03.D, 03.E 28.2.2020 EBE-AST-XX-XX-DR-A-060033 3B Apartments Types 03.C 28.2.2020 EBE-AST-XX-XX-DR-A-060032
3B Apartments Types 03.B 28.2.2020 EBE-AST-XX-XX-DR-A-060031
3B Apartments Types 03.A 28.2.2020 EBE-AST-XX-XX-DR-A-060030
2B Apartments Type 02.B, 02.C 28.2.2020 EBE-AST-XX-XX-DR-A-060021
2B Apartments Type 02.A 28.2.2020 EBE-AST-XX-XX-DR-A-060020
1B Apartments Type 01.B, 01.C, 01.D, 01.E 28.2.2020 EBE-AST-XX-XX-DR-A-060011
1B Apartments Type 01.A 28.2.2020 EBE-AST-XX-XX-DR-A-060010
Building 7 and 8 Roof Section 28.2.2020 EBE-AST-XX-XX-DR-A-030820
Building 7 and 8 Stair Typical Conditions 28.2.2020 EBE-AST-XX-XX-DR-A-030711
Building 7 and 8 Stair Section and Axonometrics 28.2.2020 EBE-AST-XX-XX-DR-A-030710
Building 8 Roof Axonometric 28.2.2020 EBE-AST-XX-XX-DR-A-030603
Building 7 Roof Axonometric 28.2.2020 EBE-AST-XX-XX-DR-A-030602
South West Elevation 28.2.2020 EBE-AST-XX-XX-DR-A-030201
Phase 1 Thermal Line Basement Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040009
Phase 1 Thermal Line Ground Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040010
Phase 1 Thermal Line L01 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040011
Phase 1 Thermal Line Sections 28.2.2020 EBE-AST-XX-XX-DR-A-040050
Phase 1 Waterproofing Strategy Basement Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040200
14 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Phase 1 Thermal Line L02 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040012
Phase 1 Waterproofing Strategy Ground Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-040201
Phase 1 Typical Lower Floor Axonometric 28.2.2020 EBE-AST-XX-XX-DR-A-030600
Phase 1 Typical Upper Floor Axonometric 28.2.2020 EBE-AST-XX-XX-DR-A-030601
Site Location Plan 28.2.2020 EBE-AST-XX-XX-DR-A-020001
Masterplan Setting Out 28.2.2020 EBE-AST-XX-XX-DR-A-020202
Masterplan Scheme Axonometric from SW 28.2.2020 EBE-AST-XX-XX-DR-A-020200
Splash Page (Cover) 28.2.2020 EBE-AST-XX-XX-DR-A-000000
Project Drawing Schedule 28.2.2020 EBE-AST-XX-XX-DR-A-000001 Sheet Naming 28.2.2020 EBE-AST-XX-XX-DR-A-000002 Project Symbols 28.2.2020 EBE-AST-XX-XX-DR-A-000003 Ground Floor Plan Sectional Completion Phase Plans 3 & 4 28.2.2020 EBE-AST-XX-XX-DR-A-020501
Groud Floor Plan Sectional Completion Phase Plans 1 & 2 28.2.2020 EBE-AST-XX-XX-DR-A-020500
Building 8 Cross and Long Sections 28.2.2020 EBE-AST-XX-XX-DR-A-030301
North West Elevations 28.2.2020 EBE-AST-XX-XX-DR-A-030200
Phase 1 Axonometric View East 28.2.2020 EBE-AST-XX-XX-DR-A-070001
Scoping Elevations B07 North East 28.2.2020 EBE-AST-XX-XX-DR-A-070112
Scoping Elevations B07 North West 28.2.2020 EBE-AST-XX-XX-DR-A-070111
North East Elevation 28.2.2020 EBE-AST-XX-XX-DR-A-030203
15 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
South East Elevation 28.2.2020 EBE-AST-XX-XX-DR-A-030202
Scoping Elevations B08 North West 28.2.2020 EBE-AST-XX-XX-DR-A-070121
Scoping Elevations B08 North East 28.2.2020 EBE-AST-XX-XX-DR-A-070122
Scoping Elevations B08 South East 28.2.2020 EBE-AST-XX-XX-DR-A-070123
Scoping Elevations B08 South West 28.2.2020 EBE-AST-XX-XX-DR-A-070124
Scoping Elevations B07 South East 28.2.2020 EBE-AST-XX-XX-DR-A-070113
Key Details Balcony Interfaces 28.2.2020 EBE-AST-XX-XX-DR-A-030900
Key Details Upper Floors 28.2.2020 EBE-AST-XX-XX-DR-A-030901
Key Details Terrace Interfaces 28.2.2020 EBE-AST-XX-XX-DR-A-030902
Key Details Podium Interface and Roof Build Up 28.2.2020 EBE-AST-XX-XX-DR-A-030903
Typical Wall Build Ups 28.2.2020 EBE-AST-XX-XX-DR-A-030904
B07 Ground and First Floor RCPs 28.2.2020 EBE-AST-XX-XX-DR-A-060100
Family Bathroom Type 1 28.2.2020 EBE-AST-XX-XX-DR-A-060901
Typical 2B Kitchen 28.2.2020 EBE-AST-XX-XX-DR-A-060905
Masterplan Setting Out Section 28.2.2020 EBE-AST-XX-XX-DR-A-020201
Cenrtal Hub Ground Floor Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030800
Central Hub Floor 01 Plan 28.2.2020 EBE-AST-XX-XX-DR-A-030801
Central Hub Typical Sections 28.2.2020 EBE-AST-XX-XX-DR-A-030802
Podium Typical Cross Section 28.2.2020 EBE-AST-XX-XX-DR-A-030810
16 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Residential Lobby Section 28.2.2020 EBE-AST-XX-XX-DR-A-030811
Architectural Stage 3 Report 28.2.2020 -
Bay Study Typical Railway Façade Balcony 28.2.2020 EBE-AST-XX-XX-DR-A-070214
Bay Study Typical Town Square Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070212
Bay Study Typical Railway Façade 28.2.2020 EBE-AST-XX-XX-DR-A-070213
Key Details Winter Garden Interface 28.2.2020 EBE-AST-XX-XX-DR-A-030905
Phase 1 Windows and Door Scope Plan Upper Floors 28.2.2020 EBE-AST-XX-XX-DR-A-070901
Phase 1 Window and Door Schedule Upper Floors 28.2.2020 EBE-AST-XX-XX-DR-A-070900
200303_sketchbook 6 (Apt Mix Rev N) 3.3.2020 - N
EBR_Schedule of Areas_N 3.3.2020 - N
Engineering
Technical Report 28.2.2020 EBE-ARP-ZZ-XX-RP-V-000001 P01
Project Management and Life Cycle Report 28.2.2020 EBE-GAT-ZZ-XX-RP-Z-000001
Architecture and Landscape Report 28.2.2020 EBE-AST-ZZ-XX-RP-A-000001
Façade Detail EWS-2.1/ EWS-5/ EWS-9 Vertical Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150211
Façade Detail EWS-2.1/ EWS-9/ Terracotta Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150212
Façade Detail EWS-2.1/ EWS-5/ Terracotta Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150213
Façade Detail EWS-2.1/ EWS-5/9/ Vertical Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150221
17 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Façade Detail EWS-2.1/ EWS-9/ Fibre Cement Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150222
Façade Detail EWS-3.1 GRC Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150311
Façade Detail EWS-3.1 GRC Rainscreen 28.2.2020 EBR-ARP-07-XX-DR-FAC-150312
Façade Detail EWS-3.1 GRC Rainscreen Horizontal Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150313
Façade Detail EWS-3.1/ EWS-2.2 Horizontal Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150314
Façade Detail EWS-3.1/ EWS-2.2 Horizontal Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150315
Façade Detail EWS-4/ EWS-2.1/ EWS-9 Vertical Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150401
Façade Detail EWS-4 Horizontal Section 28.2.2020 EBR-ARP-07-XX-DR-FAC-150402
Lighting/ Landscape and Podium Proposed Lighting 28.2.2020 EBE-ARP-ZZ-ZZ-DR-YL-271510
Site Wide Building 07 Deployments Ground Floor EBE-ARP-07-00-DR-E-245511
Site Wide Building 07 Security Zoning Ground Floor EBE-ARP-07-00-DR-E-245517
Site Wide Building 07 Deployments First Floor EBE-ARP-07-00-DR-E-245512
Site Wide Building 07 Security Zoning First Floor EBE-ARP-07-00-DR-E-245518
Site Wide Building 07 Deployments Basement Floor EBE-ARP-07-00-DR-E-245510
Site Wide Building 07 Security Zoning Basement Floor EBE-ARP-07-00-DR-E-245516
Site Wide Building 07 Deployments Roof Layout EBE-ARP-07-00-DR-E-245515
Site Wide Building 07 Security Zoning Roof Layout EBE-ARP-07-00-DR-E-245521
Site Wide Building 07 Deployments Typical Floor EBE-ARP-07-00-DR-E-245513
Site Wide Building 07 Deployments Typical Floor EBE-ARP-07-00-DR-E-245514
18 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Site Wide Building 07 Security Zoning Typical Floor EBE-ARP-07-00-DR-E-245519
Site Wide Building 07 Security Zoning Typical Floor EBE-ARP-07-00-DR-E-245520
Site Wide Building 08 Deployments Ground Floor EBE-ARP-07-00-DR-E-245511
Site Wide Building 08 Security Zoning Ground Floor EBE-ARP-07-00-DR-E-245517
Site Wide Building 08 Deployments First Floor EBE-ARP-07-00-DR-E-245512
Site Wide Building 08 Security Zoning First Floor EBE-ARP-07-00-DR-E-245518
Site Wide Building 08 Deployments Basement Floor EBE-ARP-07-00-DR-E-245510
Site Wide Building 08 Security Zoning Basement Floor EBE-ARP-07-00-DR-E-245516
Site Wide Building 08 Deployments Site Wide EBE-ARP-07-00-DR-E-245110
Combined Utilities General Notes and Legend EBE-ARP-ZZ-BG-DR-C-100001
Diversions and Abandonments Combined Utilities EBE-ARP-ZZ-BG-DR-C-112020
Diversions and Abandonments Combined Utilities EBE-ARP-ZZ-BG-DR-C-112021
Diversions and Abandonments Combined Utilities EBE-ARP-ZZ-BG-DR-C-112022
Diversions and Abandonments Combined Utilities EBE-ARP-ZZ-BG-DR-C-112023
Diversions and Abandonments Potable Water EBE-ARP-ZZ-BG-DR-C-112030
Diversions and Abandonments Potable Water EBE-ARP-ZZ-BG-DR-C-112032
Diversions and Abandonments Potable Water EBE-ARP-ZZ-BG-DR-C-112033
Diversions and Abandonments Gas Network EBE-ARP-ZZ-BG-DR-C-112040
Diversions and Abandonments Gas Network EBE-ARP-ZZ-BG-DR-C-112042
19 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Diversions and Abandonments Gas Network EBE-ARP-ZZ-BG-DR-C-112043
Diversions and Abandonments EHV Electricity Network EBE-ARP-ZZ-BG-DR-C-112060
Diversions and Abandonments EHV Electricity Network EBE-ARP-ZZ-BG-DR-C-112061
Diversions and Abandonments EHV Electricity Network EBE-ARP-ZZ-BG-DR-C-112062
Diversions and Abandonments EHV Electricity Network EBE-ARP-ZZ-BG-DR-C-112063
Diversions and Abandonments LV Electricity Network EBE-ARP-ZZ-BG-DR-C-112070
Diversions and Abandonments LV Electricity Network EBE-ARP-ZZ-BG-DR-C-112072
Diversions and Abandonments LV Electricity Network EBE-ARP-ZZ-BG-DR-C-112073
Diversions and Abandonments Telecommunications Network EBE-ARP-ZZ-BG-DR-C-112080
Diversions and Abandonments Telecommunications Network EBE-ARP-ZZ-BG-DR-C-112082
Diversions and Abandonments Telecommunications Network EBE-ARP-ZZ-BG-DR-C-112083
Combined Utilities Layout EBE-ARP-ZZ-BG-DR-C-122001
Water Networks Layout EBE-ARP-ZZ-BG-DR-C-132001
Water Networks Typical Details EBE-ARP-ZZ-BG-DR-C-137001
Gas Network Layout EBE-ARP-ZZ-BG-DR-C-142001
Gas Network Typical Details EBE-ARP-ZZ-BG-DR-C-147001
Heating and Cooling Network Layout EBE-ARP-ZZ-BG-DR-C-152001
Ground Source Heat Pump Key Plan EBE-ARP-ZZ-BG-DR-C-152010
Ground Source Heat Pump Sheet 1 EBE-ARP-ZZ-BG-DR-C-152011
20 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Ground Source Heat Pump Sheet 2 EBE-ARP-ZZ-BG-DR-C-152012
Ground Source Heat Pump Sheet 3 EBE-ARP-ZZ-BG-DR-C-152013
Heating & Cooling GSHP Typical Details Sheet 1 EBE-ARP-ZZ-BG-DR-C-157001
Heating & Cooling GSHP Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-C-157002
Heating & Cooling GSHP Typical Details Sheet 3 EBE-ARP-ZZ-BG-DR-C-157003
Heating & Cooling GSHP Chamber Schedule EBE-ARP-ZZ-BG-DR-C-159001
UKPN Electricity Network Layout EBE-ARP-ZZ-BG-DR-C-162001
HV Electricity Network Typical Details Sheet 1 EBE-ARP-ZZ-BG-DR-C-167001
HV Electricity Network Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-C-167002
HV Electricity Network Chamber Schedule EBE-ARP-ZZ-BG-DR-C-169001
LV Electricity Network Layout EBE-ARP-ZZ-BG-DR-C-172001
LV Electricity Network Typical Details Sheet 1 EBE-ARP-ZZ-BG-DR-C-177001
LV Electricity Network Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-C-177002
LV Electricity Network Typical Details Sheet 3 EBE-ARP-ZZ-BG-DR-C-177003
LV Electricity Network Typical Details Sheet 4 EBE-ARP-ZZ-BG-DR-C-177004
LV Electricity Network Chamber Schedule EBE-ARP-ZZ-BG-DR-C-179001
Telecommunications Network Layout EBE-ARP-ZZ-BG-DR-C-182001
Telecommunications Network Typical Details Sheet 1 EBE-ARP-ZZ-BG-DR-C-187001
Telecommunications Network Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-C-187002
21 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Telecommunications Network Chamber Schedule EBE-ARP-ZZ-BG-DR-C-189001
Drainage Network and General Notes Legend EBE-ARP-ZZ-BG-DR-CD-100001
Diversions and Abandonments Combined Drainage EBE-ARP-ZZ-BG-DR-CD-112010
Diversions and Abandonments Combined Drainage EBE-ARP-ZZ-BR-DR-CD-112012
Diversions and Abandonments Combined Drainage EBE-ARP-ZZ-BG-DR-CD-112013
Foul & Surface Water Drainage Layout EBE-ARP-ZZ-BR-DR-CD-122001
Foul & Surface Water Drainage Typical Details EBE-ARP-ZZ-BG-DR-CD-127001
Foul & Surface Water Drainage Typical Details EBE-ARP-ZZ-BR-DR-CD-127002
Surface Water Drainage Layout EBE-ARP-ZZ-BG-DR-CD-132001
Attenuation Tank Typical Details EBE-ARP-ZZ-BR-DR-CD-137001
Surface Water Drainage Manhole schedule EBE-ARP-ZZ-BG-DR-CD-139001
Foul Water Drainage Layout EBE-ARP-ZZ-BR-DR-CD-142001
Foul Water Drainage Manhole Schedule EBE-ARP-ZZ-BG-DR-CD-149001
Highways and Hard Landscaping General Notes EBE-ARP-ZZ-BR-DR-CD-100001
Civl Earthworks and Levels Formation EBE-ARP-ZZ-BG-DR-CD-162001
Civil Earthworks and Levels Finished EBE-ARP-ZZ-BR-DR-CD-162011
Public Realm Paving Layouty EBE-ARP-ZZ-BG-DR-CD-182001
Public Realm Paving Typical Details Sheet 1 EBE-ARP-ZZ-BR-DR-CD-187001
Public Realm Paving Typical Details Sheet 2 EBE-ARP-ZZ-BG-DR-CD-187002
22 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Public Realm Paving Typical Details Sheet 3 EBE-ARP-ZZ-BR-DR-CD-187003
Public Realm Paving Typical Details Sheet 4 EBE-ARP-ZZ-BG-DR-CD-187004
Public Realm Paving Jointing Layout EBE-ARP-ZZ-BR-DR-CD-182011
Building 7 Piling GA EBE-ARP-07-P1-DR-S-107101
Building 7 Basement GA EBE-ARP-07-B1-DR-S-117201
Building 7 Ground GA EBE-ARP-07-00-DR-S-117202
Building 7 1st GA EBE-ARP-07-01-DR-S-117203
Building 7 2nd Duplex EBE-ARP-07-02-DR-S-117204
Building 7 3rd GA EBE-ARP-07-03-DR-S-117205
Building 7 4th GA EBE-ARP-07-04-DR-S-117206
Building 7 Typical Lower GA EBE-ARP-07-05-DR-S-117207
Building 7 10th Floor GA EBE-ARP-07-10-DR-S-117208
Building 7 11th Floor GA EBE-ARP-07-11-DR-S-117209
Building 7 12th Floor GA EBE-ARP-07-12-DR-S-117210
Building 7 Typical Upper GA EBE-ARP-07-13-DR-S-117211
Building 7 Roof and Lift Overrun EBE-ARP-07-RF-DR-S-117212
Building 7 Long Section 1 EBE-ARP-07-ZZ-DR-S-127501
Building 7 Long Section 2 EBE-ARP-07-ZZ-DR-S-127502
Building 7 Long Section 3 EBE-ARP-07-ZZ-DR-S-127503
23 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Building 7 2nd Floor Duplex Loading Plans EBE-ARP-07-02-DR-S-117704
Building 7 Typical Lower Floor Loading Plans EBE-ARP-07-05-DR-S-117705
Building 7 12th Floor Terrace Loading Plans EBE-ARP-07-12-DR-S-117706
Building 7 Typical Upper Floor Loading Plans EBE-ARP-07-13-DR-S-117707
Building 7 Roof Loading Plans EBE-ARP-07-RF-DR-S-117708
Building 8 Piling GA EBE-ARP-08-P1-DR-S-108101
Building 8 Basement GA EBE-ARP-08-B1-DR-S-118201
Building 8 Ground GA EBE-ARP-08-00-DR-S-118202
Building 8 1st GA EBE-ARP-08-01-DR-S-118203
Building 8 2nd Duplex EBE-ARP-08-02-DR-S-118204
Building 8 3rd GA EBE-ARP-08-03-DR-S-118205
Building 8 4th GA EBE-ARP-08-04-DR-S-118206
Building 8 Typical Lower GA EBE-ARP-08-05-DR-S-118207
Building 8 10th Floor GA EBE-ARP-08-10-DR-S-118208
Building 8 11th Floor GA EBE-ARP-08-11-DR-S-118209
Building 8 12th Floor GA EBE-ARP-08-12-DR-S-118210
Building 8 Typical Upper GA EBE-ARP-08-13-DR-S-118211
Building 8 Roof and Lift Overrun EBE-ARP-08-RF-DR-S-118212
Building 8 Long Section 1 EBE-ARP-08-ZZ-DR-S-128501
24 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
Building 8 Long Section 2 EBE-ARP-08-ZZ-DR-S-128502
Building 8 Long Section 3 EBE-ARP-08-ZZ-DR-S-128503
Building 8 2nd Floor Duplex Loading Plans EBE-ARP-08-02-DR-S-118704
Building 8 Typical Lower Floor Loading Plans EBE-ARP-08-05-DR-S-118705
Building 8 12th Floor Terrace Loading Plans EBE-ARP-08-12-DR-S-118706
Building 8 Typical Upper Floor Loading Plans EBE-ARP-08-13-DR-S-118707
Building 8 Roof Loading Plans EBE-ARP-08-12-DR-S-118706
Basement Floor Loading Plans EBE-ARP-ZZ-B1-DR-S-110701
Ground Floor Loading Plans EBE-ARP-ZZ-GF-DR-S-110702
First Floor Loading Plans EBE-ARP-ZZ-01-DR-S-110703
Project Fonrt Sheet EBE-ARP-ZZ-XX-DR-S-130901
General Description EBE-ARP-ZZ-XX-DR-S-110702
CDM/H&S EBE-ARP-ZZ-B1-DR-S-110701
Concrete Grade EBE-ARP-ZZ-GF-DR-S-110702
Steel Reinforcement EBE-ARP-ZZ-B1-DR-S-110701
Embodied Carbon Typical Floor EBE-ARP-ZZ-GF-DR-S-110702
Party Wall Sections EBE-ARP-ZZ-B1-DR-S-110701
Typical Details Sheet 1 EBE-ARP-ZZ-B1-DR-S-110701
Typical Details Sheet 2 EBE-ARP-ZZ-GF-DR-S-110702
25 EBURY BRIDGE ESTATE Job No. : 35852 MASTERPLAN COST MODEL Client :Westminster City Council Issue Date : 20 May 2020 Base Date : 1Q 2020
BASIS OF ESTIMATE
General Notes EBE-ARP-ZZ-B1-DR-S-110701
Pile Schedule EBE-ARP-ZZ-GF-DR-S-110702
Pile Cap Schedule EBE-ARP-ZZ-B1-DR-S-110701
Unit Mix Rev T
VE addendum Rev 3 43,971
26
Appendix 15: Finance Summary
Ebury Bridge Estate Financial Viability Assessment
Appendix 15 – Finance Rate
1.1 The interest rate applied in the appraisals represents a total cost of capital in financing the Scheme. This reflects both debt and equity financing with the banks requiring a larger element of the latter relative to the former following the economic crisis. The debt element reflects both a margin and risk premium above 5 year swap rates. The equity element should in theory reflect an equity return which may be calculated by reference to the weighted average cost of capital (WACC). However, this would also need to have regard to the level of development return, which is reflected in the amount of profit a scheme is producing. It follows that to avoid double-counting, the equity element should broadly follow the level of debt interest plus a margin to reflect the more costly equity.
1.2 Cass Commercial Real Estate Lending Survey Mid-Year 2019 (formerly conducted by De Montfort) collates a sample of the conditions under which lenders offer development finance.
1.3 The survey which has been running for twenty years comments on the changes in the commercial real estate lending cycle over the period since 1999 as follows:
• Throughout the 20 years that the survey has been operating loan origination has had a general link with and values and trading in the real estate market with the observed norm being that for every £1 in real estate transactions 50p is generated in loan origination.
• The exception to this norm is seen in the years leading up to and even through the start of the market crisis during which loan origination significantly exceeded the level that could be expected from market activity and continued even whilst capital values fell.
• The result of the extreme lending market was a wave of loan defaults which peaked in 2012 and only returned to normal levels by 2016 approximately ten years after capital values reached their highest levels.
• The Mid-year 2019 survey reports that a downturn in transactions has caused this balance to shift once more.
1.4 The survey highlighted that development loans terms by all surveyed lenders entailed (including UK lenders and building societies, German lenders, North American lenders, other international lenders and non-bank lenders) comprised of the following:
March 2020 Ebury Bridge Estate Financial Viability Assessment
• Residential for sale: Loan to cost ratios of up to 95%; average interest rate margins of 506 bps; average arrangement fees of 121 bps.
• Pre-let office: Average loan to cost ratios of 40% to 85%; average interest rate margins of 400 bps; average arrangement fees of 121 bps.
• Speculative commercial: Loan to cost ratios of up to 85%; average interest rate margins of 541 bps; average arrangement fees of 125 bps.
• 50% speculative / 50% pre-let commercial: Average loan to cost ratios of up to 90%; average interest rate margins of 517 bps; average arrangement fees of 126 bps.
BPS over LIBOR 600
500
400
300 Development Loan Margin 200
100
0 2011 2012 2013 2014 2015 2016 2017 2018 H1 2019
Chart 1: All Lenders Residential Development Lending Margin
1.5 Only a minority of lenders in the Cass study are active in or targeting development lending, even fewer in speculative schemes, and fewer again in residential development so the sample size was limited to 10 to 30 responses.
1.6 At mid-2019, only a minority of lenders are active in or targeting development lending, even fewer in speculative schemes. Target margins remain high not only against the 150-225 bps margins prevailing before 2008, but also stand at or above the elevated levels reached in the years from 2010 to 2015.
1.7 It is tempting to ascribe the market step-up in 2016, most marked for speculative office schemes, to a Brexit effect. This is not proven, although margins for commercial development have fallen slightly through the first half of 2019.
March 2020 Ebury Bridge Estate Financial Viability Assessment
1.8 According to Cass, pre-let development margins can start from 225 bps for LTC levels of 60 – 70% and from 275 bps for speculative schemes. For residential schemes margins can start from 225 bps, but lenders require high amounts of pre- sales ranging from 20 – 40%.
1.9 The UK CRE lending market has seen a rising number and range of lenders. These include new small debt funds launched by asset management firms and less conventional lending channels such as peer-to-peer lending by pension funds and to a limited extent crowdfunding platforms for both investment and development loans.
1.10 Given that senior debt is generally offered at 50% to 80% of cost of development projects, the remainder of project financing will, in most cases, comprised of equity and in some cases varying levels of junior debt, mezzanine debt.
1.11 Junior debt and particularly mezzanine debt are typically provided by specialist platforms, and a lack of available research exists as to average lending criteria. The IPF, for example, states that “mezzanine finance is not a product that many banks provide” and “this type of finance is typically associated with projects funded on a profit share basis”.
1.12 Given the lack of available research and idiosyncratic nature of subordinate debt arrangements for real estate development funding, we have omitted this from our assessment of the market rate for development finance. The remaining project cost not provided by senior debt is therefore assumed to be equity financed.
1.13 Despite the Bank of England raising interest rates in 2017 and 2018 from the historic low of 0.25% to the current rate of 0.75%, the market sentiment is that any further rises will be small and gradual.
1.14 Recent uncertainty driven by the outbreak of Coronavirus has seen the US Federal Reserve cut interest rates by 0.5%. Markets have priced in a quarter-point reduction to 0.5% at the next Bank of England policy meeting on March 26 and there is even the possibility of a further rate cut to 0.25% which would equal the all -time low.
1.15 That said at present finance remains largely available, and total borrowing costs continue to be tempered by relatively low UK government bond yields and a base interest rate of 0.75%, both of which partially underpin development finance margins and loan availability.
March 2020 Ebury Bridge Estate Financial Viability Assessment
1.16 As far as financing is concerned, we have adopted a total cost of capital for financing the Scheme of 6.50%. The total cost also takes into account arrangement, monitoring and related fees.
1.17 Due to the ongoing negotiations following Brexit and continued uncertainty around the impact on bank lending rates, we reserve the right to review this input.
Table 2: Finance rate adopted
Description Allowance Finance Rate 6.50%
Source: Gerald Eve
March 2020
Appendix 17: Planning Obligations Summary
Unilateral Undertaking Heads of Terms
Parts 122 and 123 of the CIL Regulations 2010 require any planning obligations imposed to be necessary to make the development acceptable in planning terms. They must be directly related to the development, and fairly and reasonably related in scale and kind. Thus in accordance with this and in line with Current LP Policy 8.2, Draft LP Policy DF1 and the “Infrastructure and Development Impacts” chapter of the Current WCP, the Applicant is to enter into discussions with WCC on the appropriate planning obligations necessary to mitigate the impact of the Proposed Development. As the development is being promoted by Westminster City Council the planning obligations are to be entered into in the form of a Unilateral Undertaking rather than a s106 Agreement. To inform these discussions and in line with our understanding of the site and its wider context, impacts, opportunities and constraints, we set out below a list of Draft Unilateral Undertaking Heads of Terms and pursuant commitments:
Affordable Housing • Ensure the delivery of a suitable and agreed upon number / percentage of affordable units / habitable rooms. Transport and Highways • Provision of a final Travel Plan. • Car Club membership for residents. • Payment to TfL for delivery of a Cycle Docking Station.
• Walkway Agreement to safeguard a publicly accessible through route.
• S278 for associated highway works (access, parking bay/bus stop relocation).
Employment and Training Opportunities • Agreement to an employment and training opportunities strategy. Community Uses • The provision of a dedicated community facility.
Sustainability • Pay cash in lieu contributions towards carbon emissions pursuant to the Detailed Area with future cash in lieu contributions charged at £95 per tonne. The FVA has included the estimated cash in lieu payment for the full masterplan as detailed in the submitted Sustainability and Energy Statement (ref. EBR-09).
Appendix 18: Financial Appraisal – Self-Delivery
Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery
Development Appraisal Licensed Copy 20 January 2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery
Appraisal Summary for Merged Phases 1 2 3
Currency in £
REVENUE Sales Valuation Units ft² Sales Rate ft² Unit Price Gross Sales P1 Market sale - 1b2p 29 16,370 1,337.03 754,729 21,887,141 P1 Market sale - 2b4p 37 30,392 1,406.70 1,155,475 42,752,575 P1 Market sale - 3b5p 18 17,835 1,505.17 1,491,368 26,844,624 P1 Social Rent (Replacement)- 1b2p 15 8,566 206.57 117,964 1,769,460 P1 Social Rent (Replacement) - 2b4p 46 37,637 144.18 117,964 5,426,344 P1 Social Rent (Replacement) - 3b5p 30 29,894 118.38 117,964 3,538,920 P1 Social Rent (Replacement) - 4b6p 6 8,270 85.58 117,964 707,784 P1 Intermediate Affordable Rent - 1b2p 20 11,291 471.93 266,429 5,328,580 P1 Intermediate Affordable Rent - 2b4p 8 6,597 323.09 266,429 2,131,432 P1 Social Rent (New) - 5b8p 1 1,594 91.80 146,331 146,331 P1 Intermediate Ownership - 1b2b 4 2,258 491.48 277,440 1,109,760 P1 Intermediate Ownership - 2b4p 9 7,378 338.43 277,440 2,496,960 P1 Intermediate Ownership - 3b6p 3 2,984 278.93 277,440 832,320 P2A Market sale - 1b2p 64 34,473 1,401.17 754,729 48,302,656 P2A Market sale - 2b4p 41 33,540 1,412.48 1,155,475 47,374,475 P2A Market sale - 3b5p 10 10,103 1,476.16 1,491,368 14,913,680 P2A Social Rent (Replacement)- 1b2p 19 10,481 213.85 117,964 2,241,316 P2A Social Rent (Replacement) - 2b4p 33 27,222 143.00 117,964 3,892,812 P2A Social Rent (Replacement) - 3b5p 21 21,349 116.04 117,964 2,477,244 P2A Social Rent (Replacement) - 4b6p 2 2,596 90.88 117,964 235,928 P2A Intermediate Affordable Rent - 1b2p 10 5,531 481.70 266,429 2,664,290 P2A Intermediate Affordable Rent - 2b4p 30 23,598 338.71 266,429 7,992,870 P2A Social Rent (New) - 2b4p 6 4,557 192.67 146,331 877,986 P2A Social Rent (New) - 3b5p 5 5,161 141.77 146,331 731,655 P2A Social Rent (New) - 4b6p 1 1,482 98.74 146,331 146,331 P2A Social Rent (New) - 5b8p 2 2,993 97.78 146,331 292,662 P2A Market Replacement - 1b2p 5 2,745 1,374.73 754,729 3,773,645 P2B Market sale - 1b2p 115 56,404 1,538.79 754,729 86,793,835 P2B Market sale - 2b4p 49 37,020 1,529.40 1,155,475 56,618,275 P2B Market sale - 3b5p 8 7,862 1,517.55 1,491,368 11,930,944 P2B Social Rent (Replacement)- 1b2p 17 9,381 213.77 117,964 2,005,388 P2B Social Rent (Replacement) - 2b4p 6 4,620 153.20 117,964 707,784 P2B Social Rent (Replacement) - 3b5p 3 2,948 120.04 117,964 353,892 P2B Intermediate Affordable Rent - 1b2p 5 2,763 482.14 266,429 1,332,145 P2B Intermediate Affordable Rent - 2b4p 13 10,410 332.72 266,429 3,463,577 P2B Social Rent (New) - 3b5p 19 19,731 140.91 146,331 2,780,289 P2B Social Rent (New) - 4b6p 6 7,879 111.43 146,331 877,986 P2B Social Rent (New) - 5b8p 1 1,399 104.60 146,331 146,331 P2B Intermediate Ownership - 1b2p 1 554 500.79 277,440 277,440 P2B Intermediate Ownership - 2b4p 3 2,441 340.98 277,440 832,320 P2B Intermediate Ownership - 3b6p 1 983 282.24 277,440 277,440 P2B Market Replacement - 1b2p 17 9,149 1,402.38 754,729 12,830,393 P2B Market Replacement - 2b4p 24 18,084 1,533.48 1,155,475 27,731,400 Totals 763 558,525 459,849,220
Rental Area Summary Initial Net Rent Units ft² Rent Rate ft² MRV/Unit at Sale Retail 1 6,835 39.06 266,979 266,979 DMR - 3b5p 2 1,927 26.12 25,168 50,336 Retail 1 23,821 25.93 617,681 617,681 DMR - 2b4p 6 4,883 29.52 24,024 144,144 DMR - 3b5p 10 9,828 25.61 25,168 251,680 Totals 20 47,294 1,330,820
Investment Valuation
Retail Market Rent 266,979 YP @ 6.5000% 15.3846 (6mths Rent Free) PV 6mths @ 6.5000% 0.9690 3,980,054
DMR - 3b5p Market Rent 50,336 YP @ 4.5000% 22.2222 PV 2yrs 8mths @ 4.5000% 0.8892 994,694
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - Self-delivery Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery Retail Market Rent 617,681 YP @ 6.5000% 15.3846 (6mths Rent Free) PV 6mths @ 6.5000% 0.9690 9,208,228
DMR - 2b4p Market Rent 144,144 YP @ 4.5000% 22.2222 PV 3yrs @ 4.5000% 0.8763 2,806,953
DMR - 3b5p Market Rent 251,680 YP @ 4.5000% 22.2222 PV 3yrs @ 4.5000% 0.8763 4,901,030
Total Investment Valuation 21,890,959
GROSS DEVELOPMENT VALUE 481,740,179
Purchaser's Costs -1,488,585 Effective Purchaser's Costs Rate 6.80% -1,488,585
NET DEVELOPMENT VALUE 480,251,594
Additional Revenue Additional Revenue 90,000,000 90,000,000
NET REALISATION 570,251,594
OUTLAY
ACQUISITION COSTS Residualised Price (Negative land) -559,473 -559,473 Vacant Possession cost 108,110,000 108,110,000
CONSTRUCTION COSTS Construction ft² Build Rate ft² Cost Phase 1 - residential construction (inc. fit out) 275,009 325.78 89,591,300 Phase 2A - residential construction (inc. fit out) 278,669 337.82 94,139,594 P2B Phase 2B - residential construction (inc. fit out) 332,037 329.42 109,378,827 Totals 885,715 ft² 293,109,721 293,109,721
Contingency 5.00% 16,286,686 Demolition 10,073,000 S106 - Carbon offset 844,643 S106 - TfL docking station 200,000 CIL 16,149,421 43,553,750 Other Construction Phase 1 - External works 2,591,000 Phase 1 - Energy Centre 5,640,000 Phase 1 - EHV 2,500,000 Phase 2A - External works 2,450,000 Phase 2A - Energy Centre 5,420,000 Phase 2B - External works 3,950,000 22,551,000
PROFESSIONAL FEES Professional Fees 10.00% 32,573,372 32,573,372 MARKETING & LETTING Marketing 1.50% 5,361,273 Letting Agent Fee 10.00% 88,466 Letting Legal Fee 5.00% 44,233 5,493,972 DISPOSAL FEES Sales Agent Fee 1.00% 3,571,132 Sales Legal Fee 0.50% 2,401,258 5,972,390
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - Self-delivery Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery FINANCE Debit Rate 4.200%, Credit Rate 0.000% (Nominal) Total Finance Cost 30,542,451
TOTAL COSTS 541,347,183
PROFIT 28,904,411
Performance Measures Profit on Cost% 5.34% Profit on GDV% 6.00% Profit on NDV% 6.02% Equivalent Yield% (Nominal) 5.66% Equivalent Yield% (True) 5.86%
IRR% (without Interest) 7.18%
Rent Cover 21 yrs 9 mths Profit Erosion (finance rate 4.200) 1 yr 3 mths
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - Self-delivery Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery
Initial MRV 266,979 50,336 617,681 144,144 251,680 1,330,820
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - Self-delivery Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - Self-delivery Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - Self-delivery Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021
Appendix 19: Financial Appraisal – Joint Venture
Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery and Joint Venture
Development Appraisal Licensed Copy 20 January 2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery and Joint Venture
Appraisal Summary for Merged Phases 1 2 3
Currency in £
REVENUE Sales Valuation Units ft² Sales Rate ft² Unit Price Gross Sales P1 Market sale - 1b2p 29 16,370 1,337.03 754,729 21,887,141 P1 Market sale - 2b4p 37 30,392 1,406.70 1,155,475 42,752,575 P1 Market sale - 3b5p 18 17,835 1,505.17 1,491,368 26,844,624 P1 Social Rent (Replacement)- 1b2p 15 8,566 206.57 117,964 1,769,460 P1 Social Rent (Replacement) - 2b4p 46 37,637 144.18 117,964 5,426,344 P1 Social Rent (Replacement) - 3b5p 30 29,894 118.38 117,964 3,538,920 P1 Social Rent (Replacement) - 4b6p 6 8,270 85.58 117,964 707,784 P1 Intermediate Affordable Rent - 1b2p 20 11,291 471.93 266,429 5,328,580 P1 Intermediate Affordable Rent - 2b4p 8 6,597 323.09 266,429 2,131,432 P1 Social Rent (New) - 5b8p 1 1,594 91.80 146,331 146,331 P1 Intermediate Ownership - 1b2b 4 2,258 491.48 277,440 1,109,760 P1 Intermediate Ownership - 2b4p 9 7,378 338.43 277,440 2,496,960 P1 Intermediate Ownership - 3b6p 3 2,984 278.93 277,440 832,320 P2A Market sale - 1b2p 64 34,473 1,401.17 754,729 48,302,656 P2A Market sale - 2b4p 41 33,540 1,412.48 1,155,475 47,374,475 P2A Market sale - 3b5p 10 10,103 1,476.16 1,491,368 14,913,680 P2A Social Rent (Replacement)- 1b2p 19 10,481 213.85 117,964 2,241,316 P2A Social Rent (Replacement) - 2b4p 33 27,222 143.00 117,964 3,892,812 P2A Social Rent (Replacement) - 3b5p 21 21,349 116.04 117,964 2,477,244 P2A Social Rent (Replacement) - 4b6p 2 2,596 90.88 117,964 235,928 P2A Intermediate Affordable Rent - 1b2p 10 5,531 481.70 266,429 2,664,290 P2A Intermediate Affordable Rent - 2b4p 30 23,598 338.71 266,429 7,992,870 P2A Social Rent (New) - 2b4p 6 4,557 192.67 146,331 877,986 P2A Social Rent (New) - 3b5p 5 5,161 141.77 146,331 731,655 P2A Social Rent (New) - 4b6p 1 1,482 98.74 146,331 146,331 P2A Social Rent (New) - 5b8p 2 2,993 97.78 146,331 292,662 P2A Market Replacement - 1b2p 5 2,745 1,374.73 754,729 3,773,645 P2B Market sale - 1b2p 115 56,404 1,538.79 754,729 86,793,835 P2B Market sale - 2b4p 49 37,020 1,529.40 1,155,475 56,618,275 P2B Market sale - 3b5p 8 7,862 1,517.55 1,491,368 11,930,944 P2B Social Rent (Replacement)- 1b2p 17 9,381 213.77 117,964 2,005,388 P2B Social Rent (Replacement) - 2b4p 6 4,620 153.20 117,964 707,784 P2B Social Rent (Replacement) - 3b5p 3 2,948 120.04 117,964 353,892 P2B Intermediate Affordable Rent - 1b2p 5 2,763 482.14 266,429 1,332,145 P2B Intermediate Affordable Rent - 2b4p 13 10,410 332.72 266,429 3,463,577 P2B Social Rent (New) - 3b5p 19 19,731 140.91 146,331 2,780,289 P2B Social Rent (New) - 4b6p 6 7,879 111.43 146,331 877,986 P2B Social Rent (New) - 5b8p 1 1,399 104.60 146,331 146,331 P2B Intermediate Ownership - 1b2p 1 554 500.79 277,440 277,440 P2B Intermediate Ownership - 2b4p 3 2,441 340.98 277,440 832,320 P2B Intermediate Ownership - 3b6p 1 983 282.24 277,440 277,440 P2B Market Replacement - 1b2p 17 9,149 1,402.38 754,729 12,830,393 P2B Market Replacement - 2b4p 24 18,084 1,533.48 1,155,475 27,731,400 Totals 763 558,525 459,849,220
Rental Area Summary Initial Net Rent Units ft² Rent Rate ft² MRV/Unit at Sale Retail 1 6,835 39.06 266,979 266,979 DMR - 3b5p 2 1,927 26.12 25,168 50,336 Retail 1 23,821 25.93 617,681 617,681 DMR - 2b4p 6 4,883 29.52 24,024 144,144 DMR - 3b6p 10 9,828 25.61 25,168 251,680 Totals 20 47,294 1,330,820
Investment Valuation
Retail Market Rent 266,979 YP @ 6.5000% 15.3846 (6mths Rent Free) PV 6mths @ 6.5000% 0.9690 3,980,054
DMR - 3b5p Market Rent 50,336 YP @ 4.5000% 22.2222 PV 2yrs 8mths @ 4.5000% 0.8892 994,694
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - JV Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery and Joint Venture Retail Market Rent 617,681 YP @ 6.5000% 15.3846 (6mths Rent Free) PV 6mths @ 6.5000% 0.9690 9,208,228
DMR - 2b4p Current Rent 144,144 YP @ 4.5000% 22.2222 3,203,200
DMR - 3b6p Current Rent 251,680 YP @ 4.5000% 22.2222 5,592,889
Total Investment Valuation 22,979,065
GROSS DEVELOPMENT VALUE 482,828,285
Purchaser's Costs -1,562,576 Effective Purchaser's Costs Rate 6.80% -1,562,576
NET DEVELOPMENT VALUE 481,265,708
Additional Revenue Additional Revenue 90,000,000 90,000,000
NET REALISATION 571,265,708
OUTLAY
ACQUISITION COSTS Residualised Price (Negative land) -41,244,839 -41,244,839 Vacant Possession cost 108,110,000 108,110,000
CONSTRUCTION COSTS Construction ft² Build Rate ft² Cost Phase 1 - residential construction (inc. fit out) 275,009 325.78 89,591,300 Phase 2A - residential construction (inc. fit out) 278,669 337.82 94,139,594 P2B Phase 2B - residential construction (inc. fit out) 332,037 329.42 109,378,827 Totals 885,715 ft² 293,109,721 293,109,721
Contingency 5.00% 16,286,686 Demolition 10,073,000 S106 - Carbon offset 844,643 S106 - TfL docking station 200,000 CIL 16,149,421 43,553,750 Other Construction Phase 1 - External works 2,591,000 Phase 1 - Energy Centre 5,640,000 Phase 1 - EHV 2,500,000 Phase 2A - External works 2,450,000 Phase 2A - Energy Centre 5,420,000 Phase 2B - External works 3,950,000 22,551,000
PROFESSIONAL FEES Professional Fees 10.00% 32,573,372 32,573,372 MARKETING & LETTING Marketing 1.50% 5,361,273 Letting Agent Fee 10.00% 128,048 Letting Legal Fee 5.00% 64,024 5,553,346 DISPOSAL FEES Sales Agent Fee 1.00% 3,559,909 Sales Legal Fee 0.50% 2,406,329 5,966,238 FINANCE Debit Rate 6.500%, Credit Rate 0.000% (Nominal)
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - JV Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery and Joint Venture Total Finance Cost 29,151,737
TOTAL COSTS 499,324,324
PROFIT 71,941,385
Performance Measures Profit on Cost% 14.41% Profit on GDV% 14.90% Profit on NDV% 14.95% Equivalent Yield% (Nominal) 5.66% Equivalent Yield% (True) 5.86%
IRR% (without Interest) 17.92%
Rent Cover 54 yrs 1 mth Profit Erosion (finance rate 6.500) 2 yrs 1 mth
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - JV Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery and Joint Venture
Initial MRV 266,979 50,336 617,681 144,144 251,680 1,330,820
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - JV Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery and Joint Venture
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - JV Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021 APPRAISAL SUMMARY LICENSED COPY Ebury Bridge Estate Regeneration - Rev Za Horizontal - Self-Delivery and Joint Venture
Project: O:\Planning\JOBS\U Files\U0012893 - Ebury Bridge Street Estate Regen (Newbridge Advisers LLP) JBR SABO\08 Updated Tenure Mix Addenum\APPRAISALS\210120 Ebury Bridge Road Appraisal - JV Model.wcfx ARGUS Developer Version: 8.20.003 Date: 20/01/2021