In this article, we ask a range of 3 Quantity surveyors & contractors to get a general feel for the current cost per sqm in the industry for London & Surrey.
Cost per Square Metre in London and Surrey 2021
As part of our process, we consistently cross-check our designs with quantity surveyors and contractors alike and one question we’re always asked by clients is, how much is it going to cost?
The reality is – there are so many variables it’s nearly impossible to advise. But a good method of informing our clients from the outset of any project is the cost per square metre approach.
We thought we’d ask a range of 3 Quantity surveyors and contractors to get a general feel for the current cost per sqm in the industry for London and Surrey.
What is the cost per square metre approach?
Once you have a design loosely tabled, it’s possible to check how much area you’re proposing in sqm and weigh it against market rates for cost per sqm in order to gauge an approximate figure of how much it will cost you.
This is typically broken down into refurbishment and new build costs.
What is the average cost per square metre for new builds and refurbishments?
Having approached our 3 cost consultants, we asked each consultant for an average specification and found that the average cost per square metre for new builds and refurbishments were as follows:
i) New build: £2,867 exc VAT
ii) Refurbishment: £2,142 exc VAT
Of course, each of these figures varies depending on what level of specification you’re looking to provide, the amount of glazing and also whether the site has any complexities associated with it.
Our advice is to use these figures with caution, the reality is that these figures are good for an early indication of what benchmark you should be aiming for, how large a property and where to hone your initial brief to an architect. Once a design is tabled, get early advice from a qualified quantity surveyor who can look at your site and project specifics.
If in doubt, please give us a ring on 0208 1441737 or drop us an email on [email protected].