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Essay example - Construction Economics
Engineering and Construction
Pages 4 (1004 words)
CONSTRUCTION ECONOMICS (Course No.) (Lecturer) (University) 1.0 Introduction This is a report on the feasibility of the commercial block development project in Basingstoke, Hampshire UK. The development is to take place on a piece of land measuring 60 Meters by 60 Meters…
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2.0 Basis of the Report and Assumptions The report is based on the relevance of cost benefit analysis in determining the feasibility of a project. It is assumed that the developer is aware of the prevailing market rates but is not conversant with the costing strategy that can match the rates. The essence of this report is therefore to recommend the actions on whether the project is viable or not depending on the cost benefit analysis results (Schmitt, B., 2007). 3.0 Site Location Information The construction site is located in London, towards the south east of England. It has a conglomeration of retail constructions, residential and commercial properties. The environment is well developed and the area has easy accessibility to the center of London City. The plan is to have the ground floor as a shell for tenants who intend to rent to fit them out to their suitability. The rest of the floors will be for multipurpose businesses. Figure 1: Rental Units in the Commercial area Figure 2: Rental Units in the Residential Area 4.0. Market Conditions Affecting Value The construction site is in a prime area. The demand in the area for real estate properties is so high in the area pushing the cost of acquisition and development of the plot to go up. ...
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