What does a commercial or industrial building cost per m²? Just like the age-old adage ‘how long is a piece of string’, it's a simple question that doesn't have a simple answer.
A square metre rate is a blunt way to estimate building costs as so many aspects of the building have little or no relation to the square metres. However, we will try and give some indication and explain what items impact the rates. For simplicity, we typically break project costs into four parts, which we cover below:
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The base build is the easiest part to give a ballpark estimate on because the variables are not as diverse as other areas. For a basic warehouse without fewer features, the price per m² can be around $750 to $1,000. With features like large precast walls, specialist concrete floors, or custom doors, this will increase. For example, a larger industrial warehouse with stud heights of 7m to 10m high and large precast walls, the cost per m² ranges from $950 to more than $1,700.
The final price is influenced by:
We explore some of these topics in more detail in our other articles, What affects the cost of precast walls and How to compare contractors, pricing, and proposals.
The first thing we should explain is what we mean by the ‘base build’. This refers to the building and the office shell to gib stage ready for the internal finishing or fit-out of paint, floor coverings, ceilings, furniture, joinery, etc. The price for this can range from $2,000 to $4,500 per m². The final price is typically influenced by the following factors:
To discover more information about a smart way to build an office block, read our article on the best way to build an office block.
The fit-out covers all the items such as:
If your office space is below 200m² and you are not looking for a lot more than commercial carpeting and paint you can likely include the fit-out in the mid-range base build pricing. However, if you require a larger space of 400m²+, the fit-out can become its own item.
Fit-out pricing can range from $1,200 to $2,000 per m² but there can be overlap with the base build in some areas. Ensuring you have considered all elements and have your fit-out plan just right is crucial. For more information on the key considerations for your fit-out, take a look at our office fit-out key considerations.
Often an area that people overlook is the cost of the hardstands, landscaping, fencing, and lighting.
Hardstands can be between $100 to $180 per m² — this varies depending on the amount of preparation required and if you choose asphalt or concrete. Typically asphalt is cheaper but concrete is much more durable, especially if there are going to be a lot of truck movements.
For fencing, we typically work on around $100 per lm. Again, this depends on if the fence is a basic chain link fence or something more architectural.
Other items that can be quite important to think about are:
There are numerous variables and considerations when looking at the cost of a large-scale industrial or commercial building. While the cost per m² can provide insight into overall expected costs, including the base build, the office fit-out, and the exterior items these costs are simply estimates and the overall building cost can vary depending on a number of factors.
With so many variables, it’s important to enlist the help of a highly experienced team of experts who understand how to manage every stage of the build and keep you informed about the real-life cost through each stage of the process. To discover more about the costing structure and what this may look like for your building plans, please contact our team or book a meeting with one of our consultants today.
Alternatively, if you've got a project in mind and want to start budgeting, try our Budget Estimator Tool. Simply fill in the details of your proposed building, and you'll get an email with an estimated budget range.