DEVELOPMENT APPRAISALS

Question 1

What basis are the cost on BCIS usually expressed, where does the RICS obtain the information from?

Answer 1

GIA basis. Obtain monthly updates from QS , BS and contract prices/tenders.

Question 2

What costs would you allow for as part of total development costs?

Answer 2

Site preparation. Planning costs, building costs, professional fees, contingency, marking costs, finance cost and developers profit.

Question 3

What would be included in your estimate for site preparation costs and how would you estimate them?

Answer 3

Demolishment, asbestos and contaminated ground surveys, clearance, levelling, fencing – obtain a contractors estimate

Question 4

What would be in your estimate for planning costs?

Answer 4

S106 Payments Under the Town and Country Planning Act 1990, CIL, affordable housing, Section 278 (highway works), planning application costs and building regulation fees, costs for planning consultants, specialist reports.

Question 5

How would you estimate building costs?

Answer 5

BCIS or Reports from QS and BS & client information.