CONSTRUCTION COST GUIDESECOND HALF 2012

One Lower Leeson Street, Dublin 2, Ireland

Telephone 01 685 7219 Email info@buildcost.ie Website www.buildcost.ie

KEEPING YOUR COSTS TO A MINIMUM

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1CONSTRUCTION COST GUIDE SECOND HALF 2012

SCSI TENDER INDICES

Building Costs continue to rise slowly in the first half of 20123% increase in Construction Tender Prices over the last 12 months

Source: Society of Chartered Surveyors Ireland

Buildcost Commentary on the recent SCSI Tender Indices

The Tender Indices as produced by the SCSIfor the First Half of 2012 show a slight increaseof 1% from the Second Half of 2011 onconstruction tender rates. This continues thetrend of moderate increases as prices begin toinch back up from a 33% drop from the peak ofthe boom in 2007.

The stabilising of tender rates in the First Halfof 2012 are due to a number of factors.International demand for materials such assteel, metal etc., rising fuel prices, shortage ofcontractors and sub contractors have led tomaterial price increases that can no longer beabsorbed within tender rates.

The indices would indicate that the below costtendering evident over the previous few yearsseems to be at an end or at the very least hasreduced. Below cost tendering is anunsustainable practice and many constructioncompanies have restructured and downsized tosuit their current workloads or areconcentrating their efforts abroad for new workopportunities.

In addition, clients and insurance companiesare stringently vetting the financial status ofthe contractors and sub contractors prior toincluding them on tender lists.

The latest announcement from theGovernment plan to invest €2.25 Billion inroads, schools and health. While this iswelcome news for a struggling ConstructionIndustry, there remains serious questions as tohow these projects will be funded. It is likelythat the majority of the finance will come fromthe private sector through Public PrivatePartnerships and other private investmentvehicles.

Lack of available finance coupled with poorvalues will contribute to construction activityremaining poor for the short to medium term.While this status quo remains, tender rates willcontinue to remain very competitive.

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2CONSTRUCTION COST GUIDE SECOND HALF 2012

CONSTRUCTION COST GUIDE

Our construction cost guide sets out typical building costs prepared from ourexperience and cost database.

The cost ranges are representative of standard specifications and should be used as aguidance only. These costs exclude ff&e, siteworks, vat, professional fees, futureinflation and other developers costs etc.

COMMERCIAL OFFICES Cost Range €

Sub Urban Offices - Naturally Ventilated 1,100 - 1,600 per m2

City Centre Offices - Air Conditioned 1,400 - 2,000 per m2

Office Fit Outs 250 - 900 per m2

HIGH TECH INDUSTRIAL UNITS Cost Range €

Warehouse with no Office - Low Specification 550 - 700 per m2

Warehouse with 10% Office - Medium Specification 700 - 850 per m2

Warehouse with 10% Office - High Specification 850 - 1,000 per m2

RETAIL Cost Range €

Shopping Centre - Anchor Unit 600 - 800 per m2

Shopping Centre - Shop Unit 700 - 1,000 per m2

Shopping Centre - Covered Mall 1,600 - 2,600 per m2

EDUCATION Cost Range €

Primary Level (DOE 2012) 820 per m2*

Secondary Level (DOE 2012) 820 per m2*

Sports Hall (DOE 2012 - Allowance of 30% uplift on basic building costs) 1,066 per m2

Third Level (Excludes FF&E) 1,400 - 2,000 per m2

*Basic Building Cost only - external allowance of 12.5% and abnormal costs to be added

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LEISURE Cost Range €

Hotel - 3 Star 1,300 - 1,800 per m2

Hotel - 5 Star 1,800 - 2,500 per m2

Cinema 1,500 - 2,500 per m2

Sports Hall 1,200 - 2,000 per m2

Swimming Pool / Leisure Centre 1,500 - 2,200 per m2

RESIDENTIAL Cost Range €

Semi Detached Houses 800 - 1,000 per m2

Terraced Houses 750 - 950 per m2

Apartments 1,200 - 1,400 per m2

Crèche "Grey Box" 800 - 1,000 per m2

SCSI House Rebuilding Guide (See page 4)

SITE DEVELOPMENT WORKS Cost Range €

Roads, Footpaths, Enclosures and Services 90 - 200 per m2

Civic / Public Realm Areas 180 - 500 per m2

CARPARKS Cost Range €

Surface Car Parks 2,000 - 3,500 per space

Multi Storey Car Park 10,000 - 14,000 per space

Single Basement Car Park 25,000 - 40,000 per space

Double Basement Car Park 30,000 - 50,000 per space

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4CONSTRUCTION COST GUIDE SECOND HALF 2012

SCSI HOUSE REBUILDING GUIDE

This guide is intended to assist you in insuring your home and briefly explains some of the moreimportant aspects of house insurance. It also seeks to emphasise the importance of adequatelyinsuring what is probably your most valuable possession. Remember that home insurance policiesdiffer, some covering more than others; hence the importance of examining your policy carefullyand insuring for the correct amount.

Source: Society of Chartered Surveyors Ireland

1. The figures shown in the table are a MINIMUM base cost guide for your house insurance.

2. The figures are based on estate-type houses built in the Dublin, Cork, Galway, Waterford andLimerick areas since the 1960s. They exclude: (a) properties with more than two storeys orwith basements or habitable attics; (b) ‘one-off’ houses with special design features or periodhouses; and, (c) apartments/residential flats because of split responsibilities for shared areas.The insurance of apartments is covered in the block service charge. Owners should confirmwith their management companies/agents that their apartment block has been valued forinsurance purposes, and that the insured value is current.

3. The figures assume a basic quality specification with normal foundations, brick/block walls,concrete tiled roof, concrete ground floor and timber first floor, softwood flush doors andhardwood double glazed windows, painted plaster to walls, plastered ceilings, standardelectrics and central heating. The sum insured should be increased to allow for better thanaverage kitchen fittings, built-in wardrobes, finishes and any other items not normally includedin an estate-type house (e.g., fire alarm).

Internal area of your house

Total = A

TABLE OF COSTS MARCH 2012

House type

Terraced

Semi-detached

Detached

Detached Bungalow

2

3

3

4

4

4

70 sq m

(753 sq ft)

95 sq m

(1,023 sq ft)

95 sq m

(1,023 sq ft)

118 sq m

(1,270 sq ft)

118 sq m

(1,270 sq ft)

146 sq m

(1,572 sq ft)

No. ofbedrooms

Typical size

€1,829 sq m

€170 sq ft

€1,752 sq m

€163 sq ft

€1,768 sq m

€164 sq ft

€1,748 sq m

€162 sq ft

€1,778 sq m

€165 sq ft

€1,714 sq m

€159 sq ft

DUBLIN AREA

Rebuilding cost

€1,424 sq m

€132 sq ft

€1,340 sq m

€125 sq ft

€1,362 sq m

€127 sq ft

€1,342 sq m

€125 sq ft

€1,365 sq m

€127 sq ft

€1,339 sq m

€124 sq ft

CORK AREA

Rebuilding cost

€1,396 sq m

€130 sq ft

€1,315 sq m

€122 sq ft

€1,339 sq m

€124 sq ft

€1,323 sq m

€123 sq ft

€1,328 sq m

€123 sq ft

€1,291 sq m

€120 sq ft

GALWAY AREA

Rebuilding cost

€1,395 sq m

€130 sq ft

€1,325 sq m

€123 sq ft

€1,339 sq m

€124 sq ft

€1,317 sq m

€122 sq ft

€1,359 sq m

€126 sq ft

€1,276 sq m

€119 sq ft

WATERFORD AREA

Rebuilding cost

€1,417 sq m

€132 sq ft

€1,337 sq m

€124 sq ft

€1,344 sq m

€125 sq ft

€1,300 sq m

€121 sq ft

€1,359 sq m

€126 sq ft

€1,375 sq m

€128 sq ft

LIMERICK AREA

Rebuilding cost

€1,277 sq m

€119 sq ft

€1,203 sq m

€112 sq ft

€1,213 sq m

€113 sq ft

€1,199 sq m

€111 sq ft

€1,201 sq m

€112 sq ft

€1,167 sq m

€108 sq ft

NORTH WEST AREA

Rebuilding cost

€1,524 sq m

€142 sq ft

€1,438 sq m

€134 sq ft

€1,519 sq m

€141 sq ft

€1,401 sq m

€130 sq ft

€1,469 sq m

€136 sq ft

€1,425 sq m

€132 sq ft

NORTH EAST AREA

Rebuilding cost

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5CONSTRUCTION COST GUIDE SECOND HALF 2012

SCSI HOUSE REBUILDING GUIDE

4. House contents such as carpets, curtains, furniture, etc., are not covered by the figures.

5. No allowance has been made for the cost of outbuildings, patios or boundary walls. The figuresdo, however, allow for a concrete path around the house, for driveway repairs and re-grassing.

6. The figures allow for demolition costs, professional fees incurred in reinstatement and VAT at13.5% on building costs and 23% on professional fees.

7. The amounts included for professional fees have been calculated to cover the followingservices:

- Building surveyor/architect: prepare working drawings and specification, and administerthe Building contract.

- Quantity surveyor: invite and examine tenders, process payments and agree final account.

- Provision has not been included to cover the cost of a structural engineer, who might berequired in some cases. Fees associated with the preparation of insurance claims are notincluded.

8. The costs are based on building rates ruling in March 2012 and do not allow for inflation duringthe duration of the policy and the period between any loss occurring and reinstatement.

More Information can be found at http://www.scsi.ie/rebuild2012

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6CONSTRUCTION COST GUIDE SECOND HALF 2012

PLANNING AND FIRE CERTIFICATE CHARGES 2012PLANNING CHARGES CHARGE

Provision of dwelling house or apartment €65 for each dwelling

Domestic extension/other improvements €34 for each dwelling

Other buildings (i.e. offices, commercial etc.) €80 or €3.60 per m2 (whichever is greater)

up to a maximium of €38,000

Use of land as golf or pitch & putt course €50 per hectare

Outline Planning Permission 75% of full planning permission charge

up to a maximium of €28,500

Rentention Application Maximium charge of €125,000

The above planning charges excludes development levies such as contributionstowards roads, water, sewerage, parks and other facilities provided by the council

FIRE CERTIFICATE CHARGES CHARGE

Standard Application €125 or €2.90 per m2 (whichever is greater)

up to a maximum of €12,500

A Seven Day Notice Application €250 or €5.80 per m2 (whichever is greater)

up to a maximum of €25,000

A Regularisation Fire Safety Certificate Application €500 or €11.60 per m2 (whicheveris greater) up to a maximum of €50,000