Two projects winning awards on the night had their Cost Management Services delivered by members of Core Five’s Corporate Real Estate Team
Gavin Travica and Stephanie Fryer executed the cost management services providing an invaluable contribution to the overall delivery of the design and construction of each project, resulting in the judges to comment ‘…….these winning workplaces set a benchmark which others will aspire to emulate, and the teams behind them can be assured that they have reached the pinnacle of the property industry. These teams have applied their skills, knowledge and creativity to create landmark offices.’
4 Stable Street, for Argent – Winner of the BCO Regional & National Award for Projects up to 2,000m2:
At Argent, Gavin and Stephanie were approached a full 18 months before the project started on site to provide and establish a high level budget for Board approval; using their considerable experience and extensive knowledge of the fit out market, they were able to formulate a cost model that generated an approximate cost/cost per ft2 which set the budget; this was set before any concept design had been initialised and the only information available was the ‘red line’ drawing illustrating the potential premise within a building at the Kings Cross Regeneration Masterplan.
As the design evolved, all decisions were referred back to the budget figure established by Gavin and Stephanie; consequently this allowed Argent to focus expenditure on certain areas, for example the staff breakout space, the exhibition space etc and prompted the judges to remark…. ‘This building is a brilliant showcase both for Argent and the King’s Cross project. The individual spaces, whether it be the marketing suite, the open-plan areas, the cozy living room or the staff kitchen – which incorporates the essential large kitchen table – are tied together beautifully. … The new building is a milestone in the evolution of the King’s Cross regeneration and embodies everything that Argent aspires to deliver.’
Gavin and Stephanie also advised on the merits/demerits of taking the space from a Category A condition rather than Shell and Core resulting in a sufficient contribution for Argent to incorporate the Category A into the Category B works and reducing unnecessary waste and cost.
The Walbrook, Cannon Street for Arthur J Gallagher – Winner of the BCO Regional & National Award for Fit-Out of Workplace:
AJ Gallagher was the first tenant to commit to the space in the Foster-designed Walbrook Building, and its early engagement was well rewarded with this marvellous workspace.
However when negotiations for the space commenced, the floors were only completed to a shell and core condition. AJ Gallagher’s desire to keep the overlap between their new and existing office space to a minimum resulted in the developer being asked to carry out the Cat A fit out and AJ Gallagher would then undertake the Cat B fit out only. However, a full Cat A installation would have required significant modification to suit AJ Gallagher’s Cat B requirements, resulting in abortive work being undertaken, a waste of materials and resources plus additional costs.
Gavin and Stephanie assisted in the development of a tenant’s request for modification process (TRM) to amend the Cat A installation so that it was ready to receive the Cat B installation. The process omitted the significant amount of waste (resources, time and money) which traditionally occurs at this interface, saving approximately £10/ sq ft. A collaborative approach between the landlord and tenant teams ensured that the focus was kept on the completion of the project rather than a contractual line in the sand between the two building contracts.
This approach lent itself to using the same main contractor and sub-contractors on both the Cat A and Cat B fit outs. Gavin and Stephanie therefore negotiated the Cat B contract with the main contractor and procured a number of long lead items in advance, such as additional fan coils, plant and fibre. It also made dealing with any Cat A defects straight forward for all parties and avoided time and effort being expended on resolving responsibility. The judges commented that ‘……The project has transformed how the global risk management specialist does business and the way it is perceived by its clients. The environment is a credit to the vision, involvement and attention to detail of the Arthur J Gallagher team……’
For further details and photos please click here.