BMI reports

Citation

(2002), "BMI reports", Property Management, Vol. 20 No. 2. https://doi.org/10.1108/pm.2002.11320bab.001

BMI reports

BMI reports

Maintenance expenditureTotal expenditure on building maintenance in the UK rose for the seventh successive year in 2000 (see Figure 1). According to the latest BMI Special Report (BMI Special Report 306 - The Economic Significance of Maintenance, available as part of the BMI Bulletin Service or individually, priced £30), the total value of maintenance work is estimated at £47,105, an increase at constant prices of 22 per cent since 1993. The total value comprises official construction output figures for the Department of Trade and Industry, an estimate of Private Sector Direct Labour Output, and National Statistics data on consumer expenditure.

The most significant factor is the growth in the DIY industry, which has grown by 60 per cent, at constant prices, since 1995, whereas output in the public housing sector has fallen 16 per cent over the same period.

Refurbishment costThe average cost of refurbishing a property can sometimes exceed 80 per cent of the new build cost of a similar facility. The latest BMI Special Report (BMI Special Report 307 - Review of Rehabilitation Costs, available as part of the BMI Bulletin Service or individually, priced £30) provides data on the average costs of the refurbishment of over 150 types of building, and is based on the analysis of over 2,100 building projects. While the actual costs, expressed in £/m², can vary greatly between different building types, there is some consistency in the relationship between the rehab costs and new build costs, with the ratio often around two-thirds.

All of the costs in the report have been converted to third quarter 2001 levels using the BCIS Tender Price Index, and to average UK prices using the BCIS location factors. The exact content of the projects is not defined, although all projects cover the complete refurbishment of a building; therefore the figures should be very useful for early cost planning, although some caution should be exercised when interpreting the figures. Figures for some building types are shown in Table I.

BMI collects and analyses data on property occupancy cost from subscribers. These are published as individual data sheets, as well as forming the basis of special reports. BMI also responds to the emergence of new and important topics and to changing economic situations by publishing special reports for subscribers on a wide variety of statistical and technical subjects. BMI is a subscription based service for professionals concerned with cost effective property occupancy and facilities management.

For further information, contact: Alan Cowan, at BMI, 12 Great George Street, Parliament Square, London SWIP 3AD. Tel: 020 7695 1500.

Figure 1. Sector expenditure (»million 1995 prices)

Table I. Cost per building type