SRA Redevelopment Cost estimated at £2.25M
At the meeting of the Parish Council today, a report was delivered about the proposed refurbishment or replacement of the SRA building. According to the quantity surveyor engaged to estimate the cost of redeveloping the SRA building, the total cost of building to the initial plan that has been on show in the building for some time would be in the region of £2,250,000, the joint enhancement group of SRA and Parish Council members had been informed last week.
At that meeting it emerged that some of the declared requirements had altered and that parts of the design could therefore be simplified or modified, reducing the cost to an extent. The SRA will be considering possible modifications before the joint enhancement group meets again towards the end of January.
One complicating cost factor is the issue of VAT which is not charged on new build but which is charged on alterations and refurbishments. On a project of this size, the VAT total involved would be in excess of £400,000 - a major consideration.
Posted: Mon, 12 Dec 2016 22:39 by Peter Byng