We are currently working on a basic construction project feasibility study for clients who are looking to develop a rural property on the borders of Berkshire and Hampshire. The situation is a common one. Our clients need construction cost advice to help determine whether it makes better financial sense to renovate and remodel their delapidated 1920’s property, or to apply for planning permission to demolish it and build a new home in its place.
Top-line feasibility studies are regularly carried out by our cost team at CLPM. Our highly experienced Quantity Surveying team take a brief from the clients and then analyse the line-by-line costs of the alternative development scenarios. We then provide a bespoke, cost analysis to enable our clients to make an informed decision on how best to approach their project.
It’s best to carry out this type of feasibility study in the very early stage of a building project. If a project is large or complex, or where there is some doubt regarding the best approach to the proposed development, carrying out a feasibility study in the preliminary stages can save both time and money.
For clients with older properties in a poor state of repair, for which the options can be either to demolish or refurbish, feasibility studies can potentially avoid thousands of pounds of wasted architectural design fees.
Our clients usually use the results of a simple feasibility study of this nature in conjunction with other information they gain from other sources. This would include calculating the differences in potential value of the end results and more qualitative elements such as any issues there may be with the difficulty or delays to gain planning consent, construction methodology, disruption to their family or working lives and additional living and storage costs.
Are you planning to develop a property? If you are considering your options and want to understand how a construction project feasibility study could help you make your decision they get in touch.
Call 01923 896550, email firstname.lastname@example.org or complete a contact form.