Comprised of seven residential blocks, several commercial units, extensive 280 space underground car park, gym facility, 24 hour concierge and an abundance of communal gardens, the estate sits adjacent to 200 metres of Thames river frontage, with views over Canary Wharf. EK RCAs was brought in over the summer of 2021 to carry out a full elemental reinstatement cost assessment.
Our assessment included a full survey of the roof, internal common parts, subterranean car park and a sample flat for each type of from social housing up to penthouse level. We calculated a net build rate of £2,115/ m2, giving us a declared value of just over £240 million (VAT included). The cost per unit of the 677 residential units came to approximately £360,000, and the two commercial units came, £770,000. Factors such as the advanced specification penthouse apartments, reduced specification social housing units, site access and proximity to the river were all taken into account in our final calculations.
We delivered a complete breakdown of the total declared value figure, identifying the individual build costs for the residential blocks, commercial units, underground car park and external landscaping. This gives our clients comfort in knowing the true splits in our breakdown and the ability to apportion the costs of the insurance correspondingly. This is all part of the EK RCA service, regardless of scale and complexity.
