Build Cost

Definition

The total cost of constructing or renovating a property, including materials, labor, and professional fees. Essential for development finance applications. Typical components include: structural work (20-30%), internal finishes (15-25%), external works (10-15%), professional fees (10-15%), and contingency (5-10%). Lenders typically require detailed build cost breakdowns and may cap funding at 60-80% of total development costs.