Benchmarking building costs
Benchmarking building costsKeywords:Benchmarking, Construction management
The latest BCIS Study of Average Group Element Prices presents £/m2group elemental prices for a variety of building types. It provides a very useful tool for benchmarking estimates or actual costs of new buildings.
The tables in the study allow not only the total building cost to be benchmarked but also the five group elements of substructure, superstructure,internal finishes, fittings and services.
Table I shows the average cost per m2 for offices for each of the group elements and the total building cost. Figure 1 also shows that the elements representing the highest proportion of costs are superstructure and services, with 47 per cent and 32 per cent, respectively.
Table I Offices- generally
Figure 1Patterns of expenditure offices - generally
The study covers over 100 building types in the following sectors:
industrial;
commercial;
health;
recreation;
education; and
residential.
The BCIS Average Group Element Prices Study. Available as part of the BCIS annual subscription service, or individually, priced, £80.00 from BCIS, 12 Great George Street, Parliament Square, London SWIP 3AD.
