All Topics / Help Needed! / Build price – apartment block

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  • Profile photo of wisepearlwisepearl
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    @wisepearl
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    February 23, 2012 - 3:19 am

    Hi folks,

    Just after a very rough guide for estimating price to build a 2 or 3 storey apartment block, as part of a feasibility study.

    Aware of prices often suggested around $1500/sqm for building houses/townhouses.

    I’m looking at a build of either 2 storey or 3 storey (total floor space either 963sqm over 3 storeys or 640sqm over 2 storeys) at above average build quality (but not luxury) right near CBD Perth

    This is to assist in early days due diligence and of course will be investigated more thoroughly down the track, but any ballpark figures would be appreciated

    Thanks,
    Emma

    Profile photo of markh3084markh3084
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    February 23, 2012 - 3:23 am

    Have a look at this site….

    http://mortgagehouse.com.au/construction/construction-costs-per-square-metre.aspx

    regards

    mark

    Profile photo of wisepearlwisepearl
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    February 23, 2012 - 5:59 am

    thanks for the link! From the info on that site, copied below, I am thinking a build price of $2000-2200 + GST for above average quality in Perth should be a reasonable base for my analysis.

    If anyone with experience here could comment, confirm/deny that would be awesome :)

    Units

    3 level walk-up unit complex, concrete structure, ground floor parking

    $1,700 + GST per sqm medium finish

    $2,200 high finish

    3 level walk-up unit complex, concrete structure, basement parking

    $1780 med

    $2250 high

    Perth

    100 – 120% of above estimates

    Profile photo of luke86luke86
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    February 24, 2012 - 5:27 am

    Hi Wisepearl. Constructing a basement adds a lot of unknowns. If you are dealing with a high water table and neighbouring buildings being close by, then you might need an expensive watertight basement wall. Even if you don't have a high water table, then you will need some kind of temporarary and then permanant basement wall.

    I can't really comment on your numbers because I don't have a lot of experience, but an extra $80 a square meter wouldnt go far if you are building basement carparking on a tight site.

    There can be a lot of risk with below ground construction and when shoring and/or dewatering are needed- it is just really impossible to put a figure on the cost of a basement if you dont know the ground conditions or what the site and neighbouring byuildings are like, It is like asking a builder for a quote to build an office building but not telling him how tall the building will be.

    Cheers,
    Luke

    Profile photo of luke86luke86
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    February 24, 2012 - 5:28 am

    I meant I don't have a lot of experience in putting prices against construction costs, only the comparative costs between different types of construction.

    Cheers,
    Luke

    Profile photo of wisepearlwisepearl
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    February 24, 2012 - 5:31 am

    Hi Luke,

    Thanks for your comments, u bring up a good point.

    My thoughts on the building price per m is that it would be calculated per square m if floor, per storey. So rather than just $80 extra, wouldn’t the basement count for a whole extra storey so it would be 3 storeys plus basement x area per level?

    Cheers
    Emma

    Profile photo of luke86luke86
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    February 24, 2012 - 5:44 am

    Yes, but basement construction is a lot more complex than above ground construction. If you are building close to the boundary and there are existing multistory buildings on the neighbouring properties close to the boundary then you may need an expensive retaining system during construction. If you are not planning on building close to the boundary and the neighbouring buildings are single level, then it would probably not be a complex basement and it would be much cheaper.

    It is just hard to put a figure on how expensive a basement is without knowing how close it is to neighbouring buildings and what the ground conditions are like, so the extra $80 might not be enough.

    Cheers,
    Luke

    Profile photo of wisepearlwisepearl
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    February 24, 2012 - 6:03 am

    Thanks again, good information.

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