Mitchell McDermott

13 Upper Baggot Street, Dublin 4+353 (0)1 531 0370www.mitchellmcdermott.com

ABOUT US VISIONMitchell | McDermott is an independent Our vision is to become the most soughtfirm of Construction Consultants founded after Construction Consultancy Practiceby Paul Mitchell and Anthony McDermott. in the Irish market. We will serve ourPaul and Anthony were previously directors clients in an efficient manner with thein a global construction consultancy information they need to make profitablebusiness working in the Irish market. decisions in a timely fashion. Our team will comprise only like-minded peopleMitchell | McDermott provide Cost who have our clients’ interests at heartManagement, Technical Due Diligence, and can work collaboratively within aFunder Advisory Services, Insolvency team environment. We will not dilute ourServices and Consultancy Services across service offering with conflicting servicesall sectors of the construction industry. and will remain resolutely independent. We will invest to ensure we have the best people, technology and knowledge at our clients’ disposal.

A graduate of DIT and Trinity College, with support from an experienced team, Dublin where he became a Director in Davis NOTABLE PROJECTS Paul’s career has spanned over 20 years. can bring real value to a project while Langdon / Aecom and headed up Cost He started out with PKS and stayed with leaving a unique legacy that the designers Management for Ireland. »» Grand Canal Square, Offices and them through their subsequent merger can be proud of. Theatre* with Davis Langdon (including 2 years with Anthony is a hands-on Cost Manager Davis Langdon Adamson in San Francisco). NOTABLE PROJECTS delivering projects from concept to »» Marker Hotel - Grand Canal Square* completion and he enjoys being at the »» The 3 Arena* Shortly after Aecom acquired Davis client’s side offering strategic advice at all »» Grangegorman Mental Health stages of a project. He takes a practical, Langdon in 2010 Paul became Head of »» UCD SLLS Building* common sense approach, underpinned by Facility* service excellence and technical knowledge. »» National Gallery of Ireland - Dublin Ireland for Cost and Project Management »» Grangegorman Campus* The experience Anthony has gained over the »» Yahoo HQ* years comes from working on a broad range »» Twitter offices* in Ireland and for a time, had a place on the »» Novartis HQ* of projects including Mixed Use Commercial, »» Facebook Offices (Landlord)* Retail and Residential. Throughout his »» Clancy Quay Residential Units*PAUL MITCHELL UK / Ireland Board with a remit to expand »» Beacon, Sandyford* ANTHONY career, Anthony has consistently delivered »» National Ambulance Call Centre* MCDERMOTT for his clients while maintaining excellent »» Opera Portfolio (Techinical [email protected] services in mainland Europe. »» Grand Canal Offices* working relationships. The success ofT: +353 (0)1 531 0372 (DDI) [email protected] his approach may be evidenced by an Diligence)*M: +353 (0)86 8345 444 »» Marker Hotel* T: +353 (0)1 531 0371 (DDI) impressive list of repeat clients. M: +353 (0)86 3032 603 * projects completed prior to Mitchell | McDermott Paul has a wide range of experience in »» Manor Park Homes Receivership* the Public and Private sector including »» McCabe Receivership* a number of specialisms most notably »» St.James Hospital H&H Clean Room* in Financial Modelling of development »» Spencer Dock Funder Advisory* projects and Construction Law, an area where he holds a post graduate * projects completed prior to Mitchell | McDermott qualification from Trinity College. Paul enjoys his role as a trusted client Anthony has over 17 years’ experience Anthony also has led the Technical advisor. He takes a hands-on approach in the construction industry. He worked Due Diligence for Global Funds in the to projects and believes that focussed initially for a leading Irish practice, moved acquisition of some of the largest and involvement at key stages in the project, as an Associate Director to Page Kirkland most complex portfolios in Ireland over the in Sydney for 6 years and then returned to past number of years.

TESTIMONIALS RKD DUFF & PHELPS “ …I have always been impressed with their “ …effective, responsive and meticulous in their detail...” work ethic and attention to detail. They are Declan Taite, Managing Director solutions focussed and have always delivered for LAFFERTY KENNEDY WILSON our clients. I look forward to working with both “… I have no hesitation in testifying to the value “I’ve worked with him on numerous develop- he adds to a project team or client’s business ment projects where he provided due diligenceTRINITY COLLEGE DUBLIN Anthony and Paul in their new practice for many MCCAULEY DAYE O’CONNELL objective… I believe he is an asset to any project.” and cost management services. ...Approach ARCHITECTS Jim Gallagher, Managing Director was always professional and his advice always“…his intervention avoided a potentially lengthy years to come!” commercial.”legal dispute and facilitated the speedy comple- “…world class buildings including the Marker HPAC ARCHITECTS Peter McKenna, Development Directortion of an important facility.” David Petherbridge Hotel, Bord Gais Energy Theatre and the GrandPaul Mangan, Director of Estates and Facilities Canal Square offices …very impressed with his “…I was impressed by his ability to quickly BLACKSTONE BRUNELLO DELOITTE level of due diligence, cost management and analyse the project and proactively suggestBALLYMORE particular attention to detail which contributed to solutions.” “…supported us on a number of key “...an ability to carefully work within the “…provided key strategic advice at pivotal points the projects being a resounding success.” Roisin Heneghan acquisitions in Dublin over the last 18 months,“..thorough, competent and reliable… broader spectrum of a development group in the receivership which was very important to Dan Daye, Director providing detailed cost and programme advicedependability and efficiency were key factors in was very evident and much respected by all us and the bank…gave the management team associated with technical due diligence,our decision to use his service most recently...” professionals involved…” a lot of confidence in delivering the strategic CHARTERED LAND procurement and delivery of commercialBrian Clarke, General Manager Gregory Alken, Director plan…” projects, his knowledge and experience in the Tom Kavanagh, Partner, Corporate Finance “…we were very pleased with the quality of market has been extremely beneficial “ HSE Restructuring Services cost management and procurement services Mark Bird, Head of Development delivered under often challenging conditions. “…his expertise in Cost Management, Due An ability to track detail without losing sight of Diligence and Government Procurement the big picture was very valuable to us.” Procedures is excellent…contributed greatly to Declan Curtin, Director the successful outcome of our projects.” Niall Bowen

WHAT WE DO Cost Management / Quantity Surveying Technical Due Diligence Funder Advisory Services Insolvency and Restructuring Consultancy Services

COST MANAGEMENT / TECHNICAL DUE QUANTITY SURVEYING DILIGENCECost Management encompasses the various aspects of quantity Technical Due Diligence involves the coordination and manage-surveying used to deliver construction projects under budget and ment of specialist technical consultants carrying out due diligencewhich represent value for money. on completed building stock prior to acquisition/disposal. This service is typically provided to Investment Funds, Pension FundsOur service offering includes: and Individuals seeking to acquire property assets.»» Value for Money Assessments Our service offering includes:»» Pro-Active Budget Planning»» Risk Assessment and Mitigation »» Pre-Acquisition Due Diligence»» Cost Estimation / Planning »» Statutory Compliance Review»» Whole Life Costing »» Health & Safety Audits»» Financial Modelling (Development Projects) »» Coordination of Fire Audit Compliance»» Procurement Selection »» Coordination and Management of the Technical Team»» Tender Analysis »» Risk Assessments»» Cash Flow Projection »» Remedial Costs»» Construction Contract Advice »» Red Flag Reports»» Change Management »» Commercial Review of Vendor Reports»» Controlling Construction Costs »» Remediation Strategy and Cash Flow preparation»» Valuations & Recommendations»» Final Account Negotiation

FUNDER ADVISORY INSOLVENCY AND CONSULTANCY SERVICES RESTRUCTURING SERVICESFunder Advisory Services involves carrying out initial Due Insolvency and Restructuring services involve Project Consultancy Services incorporates a number of unique serviceDiligence on construction developments prior to providing finance. Management of all technical and construction aspects of the offerings that provide the client with valuable solutions to theirThe service is typically provided to Banks, Mezzanine Funders and Receivership including completing construction projects, negotiat- business needs.Investment companies. ing existing deals and achieving the most commercial exit for the Receiver. Our service offering includes:Our service offering includes: Our service offering includes: »» Financial Modelling»» Initial Due Diligence Reports »» Independent Commercial Dispute Assessment»» Facility Agreement Review »» Business Case Assessment »» Dispute Resolution Support»» Commercial Insurance Advice »» Development Appraisals »» PPP/PFI Advice»» Risk Assessments and Mitigation »» Work-Out Strategies »» Procurement Advice»» Construction Contract Advice »» Local Authority liaison and negotiation »» Risk Management»» Development Budgets »» Infrastructure Bond negotiation »» Project Audits»» Benchmarking »» Cost and Project Management »» Bid Management»» Procurement Advice »» Development Management »» Insurance Reinstatement Valuations»» Programme Assessment »» Procurement of Construction Contracts »» Capital Allowances»» Cash Flow Monitoring »» Design Team Appointments »» Whole Life Cycle Costing»» Construction Monitoring »» Cash Flow Analysis »» Business Case»» Invoice Tracking »» Close Out Reports »» Value Management»» Payment Verification

COST MANAGEMENT/ QUANTITY SURVEYINGPaul and Anthony have a combined Our service offering includes :total of almost 40 years’ experience inthe construction industry, specialising »» Value for Money Assessmentsspecifically in Cost Management. While »» Pro-Active Budget Planningthey have both spent the majority of their »» Risk Assessment and Mitigationcareers in Ireland, they have also worked »» Cost Estimation / Planningabroad in the United States, Australia, »» Whole Life CostingEurope and the Middle East. Projects they »» Financial Modelling (Developmenthave worked on cover all sectors fromEducation, Health and Public Buildings to Projects)Commercial, Residential, Retail and Leisure »» Procurement Selectionboth here in Ireland and abroad. Paul and »» Tender AnalysisAnthony have an in-depth knowledge of »» Cash Flow Projectionthe Irish construction market especially »» Construction Contract Advicein terms of working with fellow design »» Change Managementteam consultants and knowing the supply »» Controlling Construction Costschain including subcontractors and main »» Valuations & Recommendationscontractors in the current Irish market.Cost Management encompasses QuantitySurveying and its various componentsespecially those aspects which deliverconstruction projects under budget andrepresent value for money.

BUILDING TYPE COST RANGE M & E RANGE €0,000 INCLUSIVE HealthcareCONSTRUCTION Hospitals (average costs) 1,800 - 2,900 25% - 35%COSTS Accident & Emergency 2,500 - 3,500 25% - 30% Primary care centres 1,500 - 1,900 20% - 25%[email protected] Nursing homes 1,500 - 2,100 20% - 25%13 Upper Baggot Street, Dublin 4 Education+353 (0)1 531 0370 Primary schools 930 - 1,200 10% - 15%www.mitchellmcdermott.com Secondary schools 930 - 1,200 15% - 20% Third level 1,450 - 2,700 20% - 25%Indicative building costs New Build OfficesThe figures quoted are generally for buildings in the Dublin area Offices - Shell and core (inclusive common area fit-out) 1,400 - 2,000 15% - 20%at January 2015. Owner occupied / Developer Spec 1,600 - 2,600 25% - 30%Professional advice should be sought for actual projects.These Offices fit-outindicative building costs should not be used for fire insurance Basic (80% open plan, no catering) 300 - 600 20% - 30%valuations or for residual valuations for funding purposes. Medium (80% open plan, partial catering) 600 - 900 20% - 30%Mitchell | McDermott provide specific detailed valuations for fire High (70% open plan, partial catering) 900 - 1,200 25% - 35%insurance or more specific reinstatement valuations as required. Top (60% open plan, full catering facilities) 1,200 - 1,950 25% - 35%Costs are for construction only and exclude the following: Shopping centres»» Value added tax Shell and Core 650 - 1,100 10% - 15%»» Professional fees Mall 1,450 - 2,650 20% - 25%»» Inflation Retail Fit-out 25% - 30%»» Fit-out Residential 900 - 1,500»» Furniture Apartments 10% - 20%»» Planning levies, fees and charges Apartments (medium rise) 1,500 - 1,900 10% - 20%»» Demolition Social housing 1,600 - 2,300 10% - 15%»» Abnormal site conditions Sheltered housing 8% - 12%»» Site costs Housing (suburban housing) 920 - 1,400 10% - 15%»» Statutory fees & contributions Industrial 1,020 - 1,550»» Phasing Warehouse/factory shell 10% - 15%»» Sales & letting costs Factory (basic) 900 - 1,200 15% - 20%»» Finance High spec factory - Shell and core 25% - 35%»» Site-wide infrastructure Fit-out 600 - 700 25% - 30% Leisure 700 - 975 Cinema 925 - 1,300 20% - 30% Swimming pool - (60% wet and 40% dry) 700 - 1,150 20% - 35% Hotels Hotels - 3/4 star 1,600 - 2,200 20% - 30% 5 star 1,700 - 2,225 25% - 35% Car parks Surface (includes drainage and lighting) 1,400 - 2,075 5% - 10% Multi-storey 2,075 - 3,200 5% - 10% Single basement 5% - 15% Double basement 100 - 225 10% - 20% Public buildings 450 - 700 Fire station 535 - 850 15% - 25% Prison 740 - 1,175 20% - 30% Courthouse 20% - 30% 1,650 - 1,950 1,950 - 2,700 2,000 - 2,500

TECHNICAL DUE DILIGENCETechnical Due Diligence involves thecoordination and management of specialisttechnical consultants carrying out duediligence on completed building stockprior to acquisition/disposal. This serviceis typically provided to Investment Funds,Pension Funds and Individuals seeking toacquire property assets.Our service offering includes :»» Pre-Acquisition Due Diligence»» Statutory Compliance Review»» Health & Safety Audits»» Coordination of Fire Audit Compliance»» Coordination and Management of Technical Team»» Risk Assessments»» Remedial Costs»» Red Flag Reports»» Commercial Review of Vendor Reports»» Remediation Strategy and Cash Flow preparation

[email protected] Upper Baggot Street, Dublin 4+353 (0)1 531 0370www.mitchellmcdermott.comThe Directors have extensive experience of delivering Technical Due We produce a detailed but yet concise report that shows theDiligence on existing properties. short, medium and long-term capital cash flow expenditure that is required to meet current statutory requirements.Mitchell | McDermott specialise in producing Technical Due DiligenceReports which involves the coordination of the main disciplines An example of some of the key considerations/questions whenincluding; reviewing a typical residential building are:»» Fire Engineering »» Is the building compliant with granted planning?»» Mechanical & Electrical Services »» Are there warranties on Mechanical and Electrical services?»» Building Surveyor »» Are there warranties on facades, lifts and roof finishes?»» Façade Consultant »» Are there any structural issues?»» Structural Engineer »» Is fire compartmentation in apartment hallways and common»» Environmental Surveys, Phases 1 & 2 areas complete?The Directors have previously delivered a number of successful »» Are there adequate fire escape routes?projects including: »» Is there evidence of stamping and certification of fire doors? »» Is there evidence of certification and stamping of toughened»» Clancy Quay – Residential – Dublin*»» Brooklawn House – Commercial – Dublin* glass?»» Opera Portfolio (13 properties including KPMG offices)* »» Is there any evidence of Nickel Sulphide in external façade»» Portmarnock Hotel – Dublin*»» Ulysses Portfolio – Dublin* glazing?»» Shelbourne Hotel – Dublin* »» Are there any visual indications of leaks?»» Powerscourt Hotel – Wicklow* »» Is there evidence of contamination on site or use of contaminated fill material e.g. Pyrite?* projects completed prior to Mitchell | McDermott

FUNDER ADVISORY SERVICESSERVICES »» Initial Due Diligence ReportsThe Directors were previously involved in running a large Funder Advisory team whose remit »» Facility Agreement Reviewwas to carry out due diligence and monitoring work on development projects for Banks »» Commercial Insurance Adviceproviding debt. Over this ten year period the team delivered over €6bn of construction due »» Risk Assessments and Mitigationdiligence and monitoring. »» Construction Contract Advice »» Development BudgetsOur philosophy in Mitchell | McDermott is to work directly for the Lender while providing »» Benchmarkinga benefit for both the Lender and the Borrower. Our objective is to carry out thorough due »» Procurement Advicediligence at the outset of the project and to discuss and resolve all issues in order to establish »» Programme Assessmenta workable baseline against which to measure the project performance during construction. »» Cash Flow Monitoring »» Construction MonitoringOur team has a proven track record of working in an independent yet collaborative fashion to »» Invoice Trackingachieve the best overall project result. Trust is paramount. An impressive repeat list of clients »» Payment Verificationover the past decade shows that we deliver on our promises.

BUILDING TYPE COST RANGE M & E RANGE €0,000 INCLUSIVE HealthcareCONSTRUCTION Hospitals (average costs) 1,800 - 2,900 25% - 35%COSTS Accident & Emergency 2,500 - 3,500 25% - 30% Primary care centres 1,500 - 1,900 20% - 25%[email protected] Nursing homes 1,500 - 2,100 20% - 25%13 Upper Baggot Street, Dublin 4 Education+353 (0)1 531 0370 Primary schools 930 - 1,200 10% - 15%www.mitchellmcdermott.com Secondary schools 930 - 1,200 15% - 20% Third level 1,450 - 2,700 20% - 25%Indicative building costs New Build OfficesThe figures quoted are generally for buildings in the Dublin area Offices - Shell and core (inclusive common area fit-out) 1,400 - 2,000 15% - 20%at January 2015. Owner occupied / Developer Spec 1,600 - 2,600 25% - 30%Professional advice should be sought for actual projects.These Offices fit-outindicative building costs should not be used for fire insurance Basic (80% open plan, no catering) 300 - 600 20% - 30%valuations or for residual valuations for funding purposes. Medium (80% open plan, partial catering) 600 - 900 20% - 30%Mitchell | McDermott provide specific detailed valuations for fire High (70% open plan, partial catering) 900 - 1,200 25% - 35%insurance or more specific reinstatement valuations as required. Top (60% open plan, full catering facilities) 1,200 - 1,950 25% - 35%Costs are for construction only and exclude the following: Shopping centres»» Value added tax Shell and Core 650 - 1,100 10% - 15%»» Professional fees Mall 1,450 - 2,650 20% - 25%»» Inflation Retail Fit-out 25% - 30%»» Fit-out Residential 900 - 1,500»» Furniture Apartments 10% - 20%»» Planning levies, fees and charges Apartments (medium rise) 1,500 - 1,900 10% - 20%»» Demolition Social housing 1,600 - 2,300 10% - 15%»» Abnormal site conditions Sheltered housing 8% - 12%»» Site costs Housing (suburban housing) 920 - 1,400 10% - 15%»» Statutory fees & contributions Industrial 1,020 - 1,550»» Phasing Warehouse/factory shell 10% - 15%»» Sales & letting costs Factory (basic) 900 - 1,200 15% - 20%»» Finance High spec factory - Shell and core 25% - 35%»» Site-wide infrastructure Fit-out 600 - 700 25% - 30% Leisure 700 - 975 Cinema 925 - 1,300 20% - 30% Swimming pool - (60% wet and 40% dry) 700 - 1,150 20% - 35% Hotels Hotels - 3/4 star 1,600 - 2,200 20% - 30% 5 star 1,700 - 2,225 25% - 35% Car parks Surface (includes drainage and lighting) 1,400 - 2,075 5% - 10% Multi-storey 2,075 - 3,200 5% - 10% Single basement 5% - 15% Double basement 100 - 225 10% - 20% Public buildings 450 - 700 Fire station 535 - 850 15% - 25% Prison 740 - 1,175 20% - 30% Courthouse 20% - 30% 1,650 - 1,950 1,950 - 2,700 2,000 - 2,500

INSOLVENCY AND Financial ProcurementRESTRUCTURING ModelMitchell | McDermott provide the Receiver with a one-stop service Funding Validation oftaking on responsibility for all technical and construction related Developmentmatters including a solutions-based approach to problem solving. BudgetThe Directors in Mitchell | McDermott have a wealth of experiencedelivering results in complex receivership and insolvency projects. Sales & PhysicalPrevious projects include: Revenue Development»» Manor Park Homes Receivership* Legals Developer Professional Planning»» McCabe Receivership* Team Team / Local»» McNamara Construction Receivership* Authorities»» St. Mary’s Church*»» Various Residential Housing Scheme completions Individual services carried out on receiverships include: »» Cost to complete exercisesAt the initial stages of a Project Workout in a Receivership, the »» Negotiating Local Authority Bondsteam follow a tried and tested approach before commencing any »» Estate Taking-In-Charge negotiationphysical works. The original Business Case is validated to ensure »» Workout Strategiesthat it still represents Value for Money and then all other aspects »» Health & Safety Auditsof the development project are assessed including Team, Physical »» Building Regulation Compliance ChecksDevelopment, Planning, Building Regulations, Financial Model, »» Financial ModellingProcurement, Insurance, Revenue and Funding. Previous experience »» Cash Flow preparationin dozens of other receivership projects has helped to create and »» Development Team Assessmentsdefine a process where costly oversights can be avoided.* projects completed prior to Mitchell | McDermott

CONSULTANCY SERVICES Mitchell | McDermott provide a range of Consultancy Services in addition to the core services of Cost and Project Management. These services are typically used on a one-off basis on a project and may be appointed in addition to the core Design Team. The services include: »» Risk Workshops and Reports »» Value Management and Workshops »» Independent Cost and Programme Assessments »» Legal Support »» Independent Witness »» Benchmarking »» Capital Allowances »» Financial Modelling »» Insurance Valuations »» Whole Life Costing »» Bid Management »» Project Audits »» Bond Recovery »» PPP Advisory

PROJECT MANAGEMENTMitchell | McDermott provide a widerange of Project Management services forconstruction projects. We firmly believe thatthe Project Manager should take a proactiveleading role on the project, actively manageall stages of the project and maintain acollaborative team approach. While systems,technical support and processes are importantand provide basic infrastructure to anyproject, its actual success is dependent onthe individual running the project and howthey interact with the team and interpret theClient’s requirements.

[email protected] Upper Baggot Street, Dublin 4+353 (0)1 531 0370www.mitchellmcdermott.com In addition to the full Project Management offer we provide the following services on an individual basis: »» Project Execution Plans (PEP) »» Client Brief Setting »» Risk Workshops »» Feasibility Assessments »» Design Team Selection »» Procurement Advice »» Programme Assessments »» Pre-Construction Services »» Development Appraisal Planner (DAP) »» Construction Stage »» Change Management »» Commissioning Stage »» Handover and Occupation Stage »» Post-Completion Reviews »» Lessons Learned

[email protected] PROGRAMME COST DESIGN REVENUE13 Upper Baggot Street, Dublin 4 FINANCIAL+353 (0)1 531 0370 MODELLINGwww.mitchellmcdermott.com FUNDINGDEVELOPMENT APPRAISALPLANNER (DAP)Mitchell | McDermott provide a unique service for Developers andother stakeholders who are planning complex development projects.An interactive and customised development appraisal platform isused to analyse the various development options and identify themost efficient solution.Features and Benefits»» Interactive Financial Modelling Tool»» Robust platform for interrogating Programme, Cost and Revenue»» Cost, Revenue and Programme on one page»» Up to 50 year monthly Cash Flow»» Tender Inflation Modelling»» Instant Programme Change Assessment»» Sensitivity Analysis»» Scenario Modelling»» Automatic S-Curve Cash Flows»» Funding and Repayment Analysis

SUMMARY OF DEVELOPMENT BUDGET CHECKLISTRef Description Checklist Ref Description Checklist Ref Description Checklist1.0 Land purchase 4.0 Professional fees 5.0 Selling & letting costs1.1 Site cost 4.1 Project manager 5.1 Agents1.2 Stamp duty 4.2 Concept architect 5.2 Legal’s1.3 Legal costs 4.3 Masterplanning 5.3 Marketing costs1.4 Agent’s fee 4.4 Architect 5.4 Mock-up units1.5 Finance costs 4.5 Quantity surveyor 5.5 Model1.6 Arrangement fees 4.6 Structural engineer 5.6 Photographic1.7 Other 4.7 Civil engineer 5.7 Site boards 4.8 Services engineer 5.8 Pre-Opening costs2.0 Stat. fees & contributions 4.9 Health & safety consultant 5.9 Tenant incentives2.1 Planning fees 4.10 Planning consultant 5.10 Tenant enhancements2.2 Fire certification 4.11 Fire consultant 5.11 Other2.3 Planning contributions 4.12 Traffic consultant2.4 Infrastructure 4.13 Facade consultant 6.0 Financing2.5 Infrastructure apportionment 4.14 Landscape architect 6.1 Equity2.6 Works to adjacent properties 4.15 Employers representative 6.2 Senior debt2.7 Land remediation 4.16 Acoustic consultant 6.3 Mezzanine debt2.8 Costs to date 4.17 Environmental engineer 6.4 Arrangement fees2.9 Other 4.18 Archaeologist 6.5 Due diligence 4.19 Resident engineer 6.6 Other3.0 Construction costs 4.20 Site survey3.1 Construction cost estimates 4.21 Structural survey 7.0 Miscellaneous3.2 Inflation / deflation 4.22 Photographic survey 7.1 Developers management fee3.3 Costs to date 4.23 Contamination survey 7.2 Tax advice / accounting3.4 Phasing costs 4.24 Other 7.3 Adjoining neighbours3.5 Owner insurances 7.4 Contingency3.6 Other 7.5 OtherSales revenuesLetting revenues

CAPITAL ALLOWANCESCapital allowances are a tax relief or tax depreciation for capital What is involved?expenditure. The Irish Government operates a complex system of tax In summary, we review and survey our client’s property portfolioincentives aimed at encouraging capital expenditure on a variety of including commercial, retail, industrial, residential and overseasmeasures relating to business, trade and premises. Included in these property. We liaise with the client’s project design team, (Architect,measures are tax relief for investment in plant and equipment, Services consultant, Quantity Surveyor etc.) internal finance teamIndustrial buildings and energy efficient equipment. and legal advisors. We compile and perform a detailed analysis of all construction and financial information relating to these investments.Who can claim? Through expert analysis of the facts our goal is to identify value andIn general, where buildings are let, it is the landlord or owner occupier opportunities to improve the client’s capital allowances claim. Ourthat is entitled to claim on qualifying expenditure incurred but property knowledge and experience together with our unique skill settenants or lessees may also claim. of surveying and capital allowances results in maximised yet compli- ant capital allowances claims.EntitlementIn Ireland the issue of entitlement to claim capital allowances is anextremely complex area and ultimately a matter of fact. Entitlementin Ireland can only be determined from an expert review of the uniquecircumstances of each case. Our expertise and knowledge of thecapital allowances rules, legislation, practice, precedent and case lawin Ireland allows us to properly determine a client’s entitlement toclaim.