Benchmark construction costs for viability assessment

Development costs can vary due to location, development type, storey height and building use. However, benchmark construction costs for key development types help set a starting point for the consideration of viability. The key assumptions with respect to benchmark construction costs are obtained from a number of sources, including actual figures submitted as part of site specific viability assessments submitted as part of planning applications and are verified in consultation with the development industry. Base development costs per square metre are used for houses generally and apartment schemes of differing heights. These costs should include external works such as plot costs, provision of services and a share of the frontage road and service mains. Full details of these costs can be viewed in detail within the separate Key Assumptions document.