professional practice building surveyors contribution
TRANSCRIPT
Professional Practice
Building Surveyors contribution
Content• The site from our perspective
– Characteristics and constraints of site• Access• Infrastructure• Contamination• Foundations
• The Vituki building– Current condition
• Main findings• Photos
– Options for this building• Buy• Refurbish• Demolish
– Implications for each of these• Our recommendation
• The new buildings– Construction
• Concrete frame – reasons for this• Height restrictions• Trees
The Duna Site– Site located in busy part of
Budapest, the ninth district now considered to be close to the heart of the city
– Walking distance of major developments
• University• New Theatre
– Good infrastructure already exists
• Roads• Bridge linking sides of river• Tram line close by
– Naturally, the site has advantages and dis-advantages…
The site
• Past use– Cemex Cement works
• Contamination– No evidence of land contamination found
• Foundations for new buildings– Piled foundations (heavy point loads of the structure,
high water table)– Underground Parking (deep basement excavations)– Top down construction
The Vituki building• Constructed/Completed in 1977 –
Now over 30 years old• Structural concrete frame structure
with reinforced concrete clad panels forming an external skin
• 15 storeys high• Commercial office space – original
purpose• Current condition is showing age• Freehold remains with previous site
owners – Cemex cement
Current Situation
• Owned by Cemex – currently leased to Wing• Acts as a HQ for the proposed development• Consider this to be an excellent arrangement
– On site security– Communication hub of the site– Recommend space be made available for sales and
marketing for the elements of the development
Options
• Ownership to remain with Cemex?– Uncertainty over buildings future if this is the case– How these will subsequently effect the site
• Purchase from Cemex - Possibilities– Refurbish – Commercial office space?
• Cost of £4.7million
– Demolish – Make space for new buildings?• Cost of £450K approx (£5.8million purchase, demolish &
rebuild) + Height restrictions with new build – less gross floor space
– Other options – Residential usage?• Similar spec to commercial use
Technical Due Diligence Report
• Main findings– Building in poor condition internally and externally– Existing concrete frame considered to be sound
condition– Extensive improvements need to be made to:
• Building services - inadequate• Fire regulations• Windows• Décor throughout• External Wall system
– Building valued at £2.1million. Refurbishment £2.6million
Our recommendation• Make an effort to do something with the building – protect the
interests of the new development.• 23.4% more to demolish and construct new building, instead of
refurbishment, – BUT height restriction and allowance for new services would mean a
new building would have less gross floor space, subsequently creating less revenue
• Never be class A office stock, therefore…• Convert to student accommodation • PLAN A - Encourage investment from outside developer
– Offer to fund part of the refurbishment work• an investment to protect the interests of the new development• Proportionate return on investment through rent
• PLAN B - Alternatively, purchase and fund the refurbishment• Do this early on, to provide a stream of income for the rest of the
development
New Buildings
• Concrete frame construction– Fire regulations in Budapest are too stringent
for steel frame– Height restriction in Budapest
• Steel not needed, concrete adequate
– Concrete can be produced in Budapest• Good for local economy• Low carbon footprint (transportation)• Cheaper • Does not have to be imported
Conclusion
• Good site in excellent location
• Minor implications but nothing impossible
• Ensure that a plan is in place for Vituki in the interests of the rest of the development– Aesthetics– Detracting from prestige of the new site