Page 310 - All files for Planning Inspectorate

Other development costs include such items as professional fees, developer
overheads, finance costs and developer margin.

5.2.1 Construction costs

I have referred to the RICS’s BCIS (Building Cost Information Service) as
the industry standard.

This provides tender prices (average) for a range of development types
including estate housing and flats.

I have adopted these baseline costs. To these I have made the following
adjustments:

 Added 15% for external works and site infrastructure;
 Allowed for a 20% adjustment for gross to net for flats (BCIS are quoted
gross and the appraisal is set up on a net basis);
 Adjusted for location – Sussex.

The calculations are set out in the table on the following page:

The Council. In their Dixon and Searle report, have commented on the costs
and have established their own – at, I believe, £2,124 per square metre
taking into account baseline, location factor, net to gross and contingency.

This looks low, and is explained in part by adopted a lower than industry
standard allowance for external and infrastructure (at 10%). It is
understood that a 5% contingency is allowed by D and S, which I have
included.

W e a l d e n H o u s e , A s h u r s t W o o d V i a b i l i t y R e p o r t P a g e 9 | 36

Bates No 000309