Car Parks - Cost model, December 1993 | Features

Table 2: Feasibility Appraisal for Pay-on-Foot Scheme
Development Costs	£	£
Construction
Project Costs 600 spaces @ £4400	2 640 000
Finance costs @ 9% per annum (divided by two because finance was raised in two tranches) Hypothetical site in the South East	120 000	2 760 000
Site area - say 0.4 ha @ £500,000 / ha		200 000
Acquisition costs and fees @ 3%		6 000
Finance Costs @ 9% per annum		25 000
Developers' profit based on 15%, say		445 000
Total development cost, say		£3 436 000
Cost / car space, say		£5 725

Income appraisal
Annual cost of servicing a development cost of £5725 / car space @ 10% over 30 years = £600 per annum (equivalent to approximately 10% return)		600
Plus VAT at 17.5%		105

	Year 1 £	Subsequent Years £
Income required per hour to defray construction costs based on 50 weeks trading, 6 days a week, 9 core hours / 12 hour day
- for first year assuming 50% utilisation	0.52	-
- for subsequent years assuming 80% utilisation		0.33

Operating costs (will vary considerably)
- assuming £250 / car space per annum	0.19	0.12
Maintenance
- allow 0.5 to 1% of capital costs per annum, say	0.03	0.02
	0.74	0.47
Operating profit - say 15%	0.11	0.07
Tariff cost per car space per hour	0.85	0.54

Cost Breakdown for Six-Storey, 600 Space Car Park
	Element cost (£)	Cost / m(2)	Cost / car space £	% of total cost
SUBSTRUCTURE	162 500	10.83	270	6.3
600 x 600 reinforced ground beams (50 kg / m) and pile caps on 600 mm diameter piles of 1200 Kn capacity - 2500 m2 @ £65
FRAME	312 500	20.83	521	12.11
Reinforced concrete columns and beams to 15.6 x 7.2m grid - 12 500 m(2) @ £25
UPPER FLOORS	290 700	19.38	485	11.27
Reinforced concrete lightweight troughed floor slabs to falls and slopes for a 2.5 kN/m(2) loading - 9800m(2) @ £25
Reinforced concrete ramps and beams with a gradient of 1:20 - 300m(2) @ £150
Precast concrete kerbs - 100m @ £7
ROOF	152 500	10.17	254	5.91
Reinforced concrete lightweight troughed roof slab to falls and slopes for a 2.5 kN/m(2) loading (parking on roof) - 2450 m(2)
Proprietary waterproof system to open roof parking - 2500m(2) @ £25
Screed and underfloor heating to top-floor ramps - 500 m(2) @ £20
Eternit black slate roofing on softwood joists to roof of staircase towers including gutters - 125m(2) @ £150
STAIRS	32 000	2.13	53	1.24
Reinforced concrete dogleg stairs 1.2m wide with painted galvanised metal balustrading, wall handrailing and PVC core rail coverings (finishes measured elsewhere) - 40m rise @ £800
EXTERNAL WALLS	386 250	25.75	644	14.97
Medium-quality machine-made facing brick cavity wall (PC £300 / £1000) with block inner skin - 80m(2) @ £55
Medium quality machine made facing brick cavity wall (PC £300 / 1000) with 150mm reinforced concrete inner skin, including forming arches, string courses etc. - 2400m(2) @ £100
Painted galvanised steel permanent louvre vents at top of staircase towers - 13m(2) @ £400
Decorative metal balustrading and colour coated infill panels at roof level - 190m(2) at £160
Colour coated painted galvanised feature grilles in vertical arched openings - 500m(2) @ £100
Colour Coated painted galvanised feature grilles in 1.8 m diameter bullseye openings - 11 @ £700
Reconstructed stone parapet copings etc - 270 m @ £60
Galvanised mild steel painted pedestrian balustrading - 87m @ £50
Steel crash barriers - 800 m @ £35
WINDOWS AND EXTERNAL DOORS	36 550	2.44	61	1.42
Colour-coated aluminium single-glazed continuous windows to staircase towers glazed with clear laminated glass - £100m(2) @ £200
Solid Cored external quality doors in hardwood frames, including ironmongery and decoration - 3 @ £250
Pair of solid cored external quality doors in hardwood frames, including inronmongery and decoration - 2 @ £400
Pair of colour coated aluminium slingle-glazed doors to staircase entrances glazed with clear laminated glass and lockable - 3 @ £1000
Electronically operated security grilles at vehicle ingress / egress positions - £40m(2) @ £300
INTERNAL WALLS AND PARTITIONS	28 425	1.89	47	1.1
100 mm block partition - £50m(2) @ £15
Medium quality machine made facing brick cavity wall (PC £300 / £1000) with block inner skin - 85m(2) @ £55
150 mm reinforced concrete wall - 400m(2) @ £50
WC cubicles and doors - 6 @ £500
INTERNAL DOORS	11 450	0.76	19	0.44
Solid-cored half-hour flush doors in hardwood frames including ironmongery and decoration
Solid-cored half-hour glazed doors with Georgian wired cast glass in hardwood frames, including ironmongery and decoration - £18 @ £500
WALL FINISHES	56 000	3.73	93	2.17
2 coats Terrethane anti-graffitti eggshell finish to fair-faced block and concrete walls to car park areas - 2000m(2) @ £4
200 x 200 x 7mm coloured wall tiles on 12m render to staircase and toilet walls inlcuding epoxy resin grout so that tile and grout cleanable from graffitti - £1200m(2) @ £40
FLOOR FINISHES	47 350	3.16	79	1.84
Slabs and ramps brushed with one coat of Lithurin surface hardener - 1500m(2) @ £1
Non-slip unglazed clay floor tiles on 50mm screed to staircase landings, toilet and other areas, inlcuding matching skirtings - 230m(2) @ £60
Non-slip unglazed clay floor tiles and nosings on screeds and backings to staircase treads and risers - 300m(2) @ £52.50
Waterproof membrane over accommodation units etc. - 70m(2) @ £20
Hydraulically pressed 700 x 700mm precast concrete paving flags to diagonal pattern on bedding - 100m(2) @ £14
CEILING FINISHES	23 590	1.57	39	0.91
One coat must and two coats of masonry paint to concrete soffits - 16 000m(2) @ £1.40
Plasterboard suspended ceiling to toilet area with 100 mm glass fibre insulation over skim coat and two coats of emulsion paint on Soffit - 34m(2) @£35
FITTINGS	135 000	9	225	5.23
White marking and direction lines to car bays - £3500m @ £1
Other directional floor signs, zebra crossings - allow £1500
Directional and other general signs above floor level - allow £20000
Payment machines at Stair/lift entrances - 3 @ £20 000
Data station - 1 @ £10 000
Heavy-duty parking barrier at ingress / egress points to car park including loop vehicle presence detectors, exit ticket controls and capacity signs - 4 @ £10 000
SANITARY APPLIANCES	5 885	0.39	10	0.23
Vitreous china WC suite - 7 @ £130
Stainless steel disabled WC suite - 1 @ £2000
Vitreous china urinals - 3 @ £150
Vitreous china wash handbasins
Stainless Steel wash handbasin - 1 @ £225
Hair dryers - 5 @ £300
DISPOSAL INSTALLATIONS	21 900	1.46	36	0.85
Rainwater disposal and upper level slab drainage - 15 000m(2) @ £1.30
cast-iron soil and pvc waste system - allow £2400
WATER INSTALLATIONS	4 500	0.3	8	0.17
Hot and cold water in copper serving 30 points - allow £4500
SPACE HEATING AND AIR TREATMENT
Natural ventilation to toilets
ELECTRICAL SERVICES	135 000	9	225	5.23
Mains supply; 100 watt lamps; automatic switching control; emergency lighting to all exit points; escape staircases and lift lobbies - 15 000m(2) @ £9
LIFTS	94 000	6.27	157	3.64
8-person electro hydraulic lift to serve 6 floors; speed 1.6m/s; stainless steel to walls and Nairn flooring - 2 @ £47 000
SPECIAL SERVICES	68 500	4.57	114	2.66
Dry riser provision - allow £3000
Hand-held fire fighting appliances, extinguishers - allow £7000
Fire alarm system - 15 000m(2) @ £0.40
Closed-circuit monochrome television, two monitors, VCR recorder- allow 15 000m(2) @ £3.50
BUILDER'S WORK IN CONNECTION WITH SERVICES	10 400	0.7	18	0.41
Associated builders work, holes and sleeves - allow say 3% = say £10 400
SUB TOTAL	2 015 000	134.33	3358	78.1
PRELIMINARIES AND DESIGN COSTS
Contractor's management and staff, site accommodation and other preliminary items - allow 20%, say	415 000	27.67	692	16.09
Design Costs - allow 6%, say	150 000	10	250	5.81
BUILDING COST	2 580 000	172	4300	100
EXTERNAL WORKS	60 000	4	100	2.3
Associated tarmacadam roads and kerbs - allow £12 000
Associated tarmacadam footpaths - allow £3000
Landscaping - allow £12000
Site and building underslab drainage - £15 000m(2) @ £1.60
External lighting and service connections - allow £9000
TOTAL COST EXCLUDING SITE COST, FINANCE AND VAT	2 640 000	176	4400

Table 1
Development	One Car Space Per:
Offices	25-30m(2) gross floor area
Factories	45-55m(2) gfa
Warehouses	200m(2) gfa
Shops	25-30m(2) gfa
Superstores	10m(2) gfa plus 1-3 for staff
Cinemas / Theatres	3-5 seats
Hospitals	2 beds plus 1:1 for doctors and 1:3 for staff
Residential	1-2 dwellings (depending on garage space, standard of dwellings)

Comparative Costs of Car Park Types
Types of Parking	Area / Car Space m2	Cost £/m2	Cost / car space £
Surface level
Basic	22-26	25-40	550-1040
Intermediate standard, including access roads and landscaping	27-33	35-70	945-2 310
Beneath building, extra cost of piles and suspended slab over	22-26	70-110	1 540-2 860
High-quality on marble pavings	25-30	90-120	2 250 - 3 600
Multi-Storey
On roof of two-storey building, including external ramps	25-30	110-140	2 750 - 4 200
Split level, concrete facade budget schemes	22 - 25	140 - 160	3 080 - 4 000
- average schemes	22 - 26	150 - 200	3 300 -5 200
Split level with brick facades	22 - 26	160 - 240	3 520 - 6 240
Extra for lightweight roof	22 - 26	60 - 70	1 320 - 1 820
Horizontal slab	24 - 28	150 -190	3 600 - 5 320
Warped slab	22 - 26	160 - 200	3 520 - 5 200
Underground
Partial Underground	22 - 28	225 - 275	4 950 - 7 700
Underground under offices	25 - 30	320 - 450	8 000 - 13 500
Underground with landscaped roof	25 - 30	500 - 550	12 500 - 16 500

Feasibility Appraisal for Pay-on-Foot Scheme
Development Costs	£	£
Construction
Project Costs 600 spaces @ £4400	2 640 000
Finance costs @ 9% per annum (divided by two because finance was raised in two tranches)	120 000	2 760 000
Hypothetical site in the South East
Site area - say 0.4 ha @ £500 000 / ha		200 000
Acquisition costs and fees @ 3%		6 000
Finance costs @ 9% per annum		25 000
Developer's profit based on 15%, say		445 000
Total development cost, say		£3 436 000
Cost / car space, say		£5 725

Income appraisal
Annual cost of servicing a development cost of £5725 / car space @10% over 30 years = £600 per annum (equivalent to approximately 10% return)		600
Plus VAT at 17.5%		105
		705
	Year 1 £	Subsequent years £
Income required per hour to defray construction costs based on 50 weeks trading, 6 days a week, 9 core hours / 12-hour day
- for first year assuming 50% utilisation	0.52	-
- for subsequent years assuming 80% utilisation		0.33

Operating costs (will vary considerably)
- assuming £250 / car space per annum	0.19	0.12
Maintenance
- allow 0.5 to 1% of capital costs per annum, say	0.03	0.02
	0.74	0.47
Operating profit - 15%	0.11	0.07
Tariff cost per space per hour	0.85	0.54

REGIONAL FACTORS
Region	Factor
Inner London	1.12
Outer London	1.05
East Anglia	0.97
East Midlands	0.95
Northern	0.97
Northern Ireland	0.82
North West	1.02
Scotland	1.06
South East	1
South West	0.95
Wales	0.96
West Midlands	0.96
Yorkshire and Humberside	0.97