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If you are looking to have a new commercial building fitted out for occupation, then you will likely have a million and one questions on your mind right now. Most importantly, how much is it going to set you back to have frame and drywall installed, to have it wired throughout, and for the interior to be painted and decorated by the professionals? In this article, we&#;ll tell you everything you need to know regarding the average commercial building construction costs in Australia.
Please note that all of the figures listed in this article are merely averages. Depending on where you are based in Australia, the size and complexity of the project, and which contractors you decide to work with, these figures are subject to change. For a more accurate estimation, speak with a number of professionals to get some comparison quotes. In any case, read on for more information.
So, how much does it cost to frame and drywall a wall in Australia? When you have a commercial interior and you&#;d like to have it fitted out ready for an office to move in, then you&#;ll need a good idea as to how much installing the walls will cost. Here&#;s a look at some of the averages for your convenience:
Installing a wall in a commercial space in Australia can cost anywhere from $2,500 to $6,100. This depends on the area that you are based in, the size of the target wall, and whether your contractor will be required to frame in and add any electrical outlets and switches/fixtures.
It&#;s important to note that these are averages. There are a number of factors that will influence the overall cost of a frame and drywall installation project in a commercial building. We&#;ve listed the maximum cost as $6,500 &#; however, this is subject to being higher depending on the quality of finish and the complexity of the installation.
For example: if you are having a wall fitted with a number of electrical outlets and fixtures, including soundproofing and door-frames, etc, the time required to complete such a complex job will be higher than a standard wall installation.
How much does it cost to wire a commercial building in Australia? Again, this is going to vary substantially, depending on the size of the building and the level of electrical appliances required.
For commercial electrical writing, most electricians will charge anywhere between $5 to $12 per square foot (typically 10-30% higher than residential wiring costs).
For an average-sized office, you should be prepared to spend anywhere between $3,000 and $13,000 depending on the scope and complexity of the project. This might seem expensive, but hiring professionals to have your wiring installed properly and up to standard is essential. Not only do you want your electrical appliances to function properly, but to do so absent the risk of accidental fire.
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How much does it cost to decorate a commercial building in Australia? Hiring a commercial painter and decorator in Australia will set you back anywhere between $45 and $60 an hour (or $10-$30 per square metre).
This is a crucial stage of the fitout process. Obviously, it&#;s important to have a decent structure and layout for your office, including high-quality electrical wiring that is up to all Australian regulations and safety standards, however, the quality of the décor and overall finish is what ties it all together.
When your office is finally ready for occupation, your employees move in and it is business as usual, the quality of the finish will have a big influence on the overall performance of your team. A dull and uninspiring office space with poor lighting compared to a well-optimised space with a stunning finish is simply no contest &#; as such, it&#;s important that you don&#;t skimp on this stage. When you hire a commercial fitout contractor you get what you pay for.
To recap:
Again, these are averages and you shouldn&#;t take them as gospel. Ultimately, if you want to get the most accurate estimation on a commercial fitout project you should speak with the professionals like Alpha Ceilings and Partitions for a tailored response.
We hope that this article has been helpful to you and that you now have a rough idea as to how much you are likely going to spend on having your commercial space kitted out with walls, electrics, and finished with quality painting and decorating.
Ever thought about how much it would cost to rebuild your home or a commercial property in ? Let&#;s just say, it might be more than you think.
Building material and construction prices have hit a 20-year high as a result of the rising inflation rates, labour shortages and supply chain delays. Which is why it is important to review your cover and building sum insured. With the rising costs, your rebuild cost is likely to be greater than what you originally calculated. Which might mean that you will be left to pay the difference between your claim-payout and the actual rebuild cost.
But how much have the costs of building really gone up? Let&#;s look at some important numbers to understand this.
Both the Cordell Commercial Cost Index (CCCI) and the ABS House Construction Index are keeping track of the building costs in Australia. According to the CCCI, building costs went up by a whopping 24.2% in the last three years. The ABS House Construction index tells us a similar story. It shows costs going up by 20.5% in the past 12 months and by 33.3% in the past three years. This means that a property in for $1.0 million, would need to be insured today for somewhere between $1.24 and $1.33 million!
Unfortunately it is not as simple as just looking at how much it would cost to rebuild. It is important to consider the cost to clean up if your building was destroyed in a fire (this is called &#;removal of debris&#;). For example, if that $1.0 million property was destroyed in a fire, you need more than the $1.33 million insured as you&#;ll need to clean up the site first (so you need &#;removal of debris&#;). The actual value you need to pick will depend on your policy wording. Insurers may either include these costs as extra benefits, give a sublimit, or need the value for removal of debris to be specifically listed.
It is also important to note whether your building is a commercial or residential property. If you are rebuilding a commercial building the GST may need to be deducted from the total. The insurer will only pay the ex-GST values if you are registered for GST.
If you refinanced your building, the bank might have given you a valuation report. However, often this has no bearing on your actual rebuild costs. The bank is focussed on the market value of the property versus the loan to make sure they&#;re not out of pocket if your building burns down. The &#;minimum insurance requirement&#; protects them and not you as it doesn&#;t account for any rebuilding costs. Furthermore, the bank doesn&#;t know what policy wording you have and whether you need benefits like removal of debris on top of or included in your sum insured either.
To make sure you are properly covered, you will need a broker who understands property insurance. Unlike most other brokers, we will do a commercial calculator for you as part of a quote as long as you provide us with the full and correct information. We can help you figure out how much it would really cost to rebuild your building and what you need to include in your insurance policy to cover these costs.
No one wants to think about the worst case scenario, but accidents happen. For example, your metal shed with metal frames can buckle under heat if contents catch fire and would need to be demolished. The cost to clean up this mess alone might end up costing almost as much as building that shed three years ago.
Don&#;t risk it. Talk to our experienced insurance brokers, who know what they&#;re doing. They can help make sure you have enough insurance to cover the cost to rebuild your building, so you don&#;t lose your main retirement income or investment. Why pay for insurance at all if it&#;s not going to rebuild or replace what you had. Stay safe and stay insured!
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