2017年亚太区居住者成本指南（英文）_35页-10mb

2017/18 ASIA PACIFIC COST GUIDE - CBRE

Core Content Overview

The 2017/18 Asia Pacific Cost Guide by CBRE provides comprehensive data and insights on fit-out costs, leasing costs, facility management (FM) costs, and net present lifecycle costing (NPLCC) across 25 cities in the Asia Pacific region. The guide aims to support corporate clients in capital planning, decision-making, and real estate investment optimization by offering benchmarking data, project timelines, and cost comparisons between different market segments such as CBD and city fringe locations.

Main Points and Key Information

1. Purpose and Scope

• The guide is based on empirical data from completed office projects across multiple industries.
• It includes cost indexes for fit-out, leasing, and operating costs, as well as a combined holistic cost in present value.
• The Net Present Lifecycle Costing (NPLCC) model helps estimate the full cost of a commercial office investment over five years.
• CBRE has introduced project timelines to assist in planning and business case development.

2. Key Cost Categories

Fit-out Costs

• The fit-out cost index is based on the Project Management platform and includes three standard levels: Basic, Medium, and High.
• Included in fit-out costs:
  • Consultants fees
  • Builders works
  • M&E works (including structured cabling)
  • Standard office FF&E
• Excluded:
  • Telephony/IT/AV/Security equipment
  • Dedicated chiller and generator installation
  • Acoustic consultancy
  • Technology consultant fees
  • Building abnormalities or variances

Leasing Costs

• Leasing costs are categorized as Prime and Grade A, based on net floor area and location.
• The most expensive leasing market is Hong Kong at $197/US$ sq ft per annum.
• Other notable leasing costs:
  • Sydney: $83 (Prime), $47 (Grade A)
  • Tokyo: $132 (Prime), $98 (Grade A)
  • Beijing: $174 (Prime), $88 (Grade A)
  • Singapore: $68 (Prime), $78 (Grade A)
  • Delhi: $111 (Prime), $73 (Grade A)

Facility Management (FM) Costs

• FM costs include:
  • Cleaning
  • Mechanical & Electrical Maintenance
  • Security Services
  • Utilities
  • Pest control
  • Mailroom
  • Reception
  • Landscaping
  • Confidential waste disposal
• Excluded:
  • Dedicated Chiller and Generator maintenance
  • Property Tax
  • Management Fee
• The average FM cost in Sydney is $9.94/US$ sq ft per annum.

Net Present Lifecycle Costing (NPLCC)

• NPLCC is used to benchmark the total cost of a corporate office investment over a five-year period.
• It includes fit-out, leasing, and operating costs adjusted for inflation and discount rate.
• Key NPLCC insights:
  • The cost of decentralizing a 30,000 sq ft office in Hong Kong is $18,256,113 over five years.
  • Sydney is the most expensive market for fit-out at $142/US$ sq ft.
  • NPLCC analysis assumes a 10% discount rate and uses CBRE Research inflation rates.

3. Project Standards and Specifications

• A Project Standard Matrix outlines the levels of fit-out:
  • Basic: Minimal features, standard finishes, and basic functionality.
  • Medium: Increased functionality, higher quality finishes, and better infrastructure.
  • High: Full integration, advanced technology, and premium finishes.
• IT Infrastructure:
  • Basic: 1 RJ45 socket per workstation.
  • Medium: 2 RJ45 sockets per workstation with some resiliency.
  • High: 4 RJ45 sockets with flood wiring and full integration.
• Audio Visual (AV) Equipment:
  • Basic: Minimal AV in meeting rooms.
  • Medium: Quality AV in collaboration rooms.
  • High: Full integration with Cisco Video Conferencing, lighting control, and blinds via Crestron console.

4. Project Timelines

• The guide includes project timelines for new office fit-out projects in different size categories and cities.
• Timelines are indicative and based on typical procurement strategies.
• Key factors affecting timelines include:
  • Location
  • Authority approval process
  • Stakeholder availability
  • Proximity
  • Building type
  • Project brief
  • Market demands
• For accurate timeline estimates, contact the CBRE Division Lead in the relevant market.

5. Regional Benchmarking

• The APAC Fit-out Cost Index is used to compare fit-out costs across different regions and cities.
• Shanghai is noted for low fit-out cost increase despite inflation due to greater competition.
• The NPLCC is used to quantify the cost difference between CBD and city fringe locations in five cities.

Conclusion

The guide is a valuable resource for real estate professionals and corporate clients in the Asia Pacific region, offering cost benchmarking, project timelines, and holistic cost analysis. It highlights the importance of technology and wellness in modern workplaces and encourages data-driven decision-making for capital planning and investment optimization. For specific project budgeting, consultation with CBRE experts is recommended.