St Mary Redcliffe Project 450 RIBA 2 Stage End Report

Project 450 - St Mary Redcliffe Church, Bristol
RIBA Stage 2 Report
Overall Outline Cost Plan Summary No 1 20/01/2020
Ref
A
Scope of Works Description
Church Yard North
Approx.
GIFA (m2)
Current Costs Previous Costs Movement Comments
£ £ £
SUMMARY
RIBA 2 Total Construction Cost
RIBA 1 Total Construction Cost
£8,345,961 (ex VAT)
1 New facilities comprising new café & kitchen, gallery & exhibition space 1,098 £3,579,054 £2,939,000 £640,054
B
Church Yard South
1 Education/Learning Building including new access lift/steps 212 £861,844 £562,200 £299,644
2 Events Building including hard & soft landscaping 381 £1,183,259 £1,010,300 £172,959
C
Consequential Improvements to satisfy Building Regulations
1 Allowance Excl Excl £0 To be confirmed
D
Other Works
1 Proposals for storage and office at Nave Level & Volunteer room £0 £140,500 -£140,500 Works now included in A1 above
2 Proposed Internal Porch to West Door £30,000 £0 £30,000 Additional Works added
3 Allowance to provide new internal exhibition space £50,000 £0 £50,000 Allowance pending scope agreement
4 New Armoire £50,000 £0 £50,000 Part included in D1 previously
£5,754,157 £4,652,000 £1,102,157
D Main Contractor's Preliminaries 16% £923,000 £930,400 -£7,400 Assumes South Church Yard projects share site management facilities
£6,677,157 £5,582,400 £1,094,757
E Main Contractor's Overheads & Profit 7.5% £491,037 £418,680 £72,357
£7,168,194 £6,001,080 £1,167,114
F Professional, Legal, Planning & Building Regulation Fees 16% £1,177,767 £1,086,946 £90,821 18% included for South Church Yard projects & 16% for Undercroft & Hogarth
G
H
Design Development & Construction Risks
Inflation
SUB TOTAL: Facilitating and Building Works
Sub-total
TOTAL: Building Works Estimate
Base Cost Estimate
£8,345,961 £7,088,026 £1,257,935
0.1 Design Development Risks 12% £991,006 £900,162 £90,844
0.2 Construction Risks 0% £0 £0 £0 Included in Design Development Risk above
0.3 Employer Change Risks 5% £0 £345,062 -£345,062 Allocated to building works above
Total Risk Allowance Estimate
Cost Estimate (excluding inflation)
£991,006 £1,245,224 -£254,218
£9,336,968 £8,333,250 £1,003,718
0.1 Tender Inflation 0% Excl Excl £0
0.2 Construction Inflation 0% Excl Excl £0
Cost Estimate (including inflation)
£9,336,968 £8,333,250 £1,003,718
I VAT 20% £1,867,394 £1,666,650 £200,744
TOTALS (incl VAT & Fees) @ Base Date 1Q20
£11,204,000 £10,000,000 £1,204,000
Base Scheme
£7,088,026 (ex VAT)
Enhanced Scheme £8,236,500 (ex VAT) *
including increased:
i) Events Space
ii) Education Space
iii) Nave Level ‘Armoire’
Given that the RIBA 2 scheme includes the above increased
provision, the most accurate comparator is the RIBA 1 Enhanced
Scheme and, on this basis, project costs can be seen to have
remained relatively consistent through the RIBA 2 design
development
However, the impact of both VAT and Quantified Risk Allowance is
such that the forecast Total Project Cost now exceeds the agreed
£10m budget by £1,024,000
In relation to this, and to more adequately define the scope for
RIBA 3, it is recommended that SMR:
1. Seeks an update on the funding position from the Fundraising
Consultant and, particularly, clarity on whether the anticipated
£10m maximum relates to total construction or total project
cost
2. Seeks clarity from its Financial Advisors on the project’s VAT
status
3. Ensures the separate fundability of the excluded items, such as
FF&E
4. Considers the early undertaking of the suggested further
surveys and investigations to manage the Quantified Risk
Allowance
5. Utilises the suggested review of the South Churchyard Buildings
to achieve efficiencies wherever possible
* As reported in RIBA 1 Report, July 2019
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