New England House - Summary of Design Options and Financial modelling

Design options

Total net additional lettable floorspace

sq metres

COST WITH FEES £m

CAPITAL SHORTFALL £m

ANNUAL REVENUE SHORT-FALL (BORROWING) £m

Comments

1

·         2 x 10-storey towers

·         2-storey roof extension

·         Refurb

 

 

 

 

 

 

 

 

 

4,793

£43.556

£12.400

£0.597

In conjunction with Longley (3,270 sq m) provides 973 sq m above City Deal output of

7,090 sq m

2

·         2-storey roof extension

·         Refurb

 

 

 

 

 

 

 

 

2,618

£26.004

£3.400

 

 

 

 

 

 

 

 

£0.164

In conjunction with Longley (3,270 sq m) provides 1,202 sq m below City Deal target of

7,090 sq m.

 

Preferred Option

3

·         2 x 8-storey towers

·         Refurb

 

 

 

 

 

 

 

 

1,765

£28.449

£9.200

 

 

 

 

 

 

 

 

£0.444

In conjunction with Longley (3,270 sq m) provides 2,055 sq m below City Deal target of

7,090 sq m

 

 

 

4

·         Refurb only

 

 

 

 

 

 

 

Nil

£14.086

£6.700

 

 

 

 

 

 

 

£0.322

NB City Deal £4.9 million has not been factored-in to this option, as no additional floorspace is being provided