A Fixed price contract is preferred when scope of works can be clearly defined and costs accurately calculated at time of project tender stage. Typically, all major design decisions have been made during the design phase and are communicated to the builder through detailed plans and specifications.
Prime cost and Provisional sum allowances are used in estimate for those items that have not yet been selected or cannot be accurately priced at time of tender. Changes to project scope can still be made during construction through a contract variation. The contract price and construction time period are adjusted accordingly.
Cost Plus contract
Preferred contract for luxury homes and other complex projects and where costs and scope are difficult to determine at time of tender. Our cost-plus system is an open book process where each week we share with the client our detailed inventory of material and labor job costs as the project progresses. The client is invoiced for these verified costs as they are incurred plus our agreed margin for profit.
This allows the client to see how we are tracking against out budget estimate and allows for design changes if required to save on cost without compromising quality. Some clients prefer this type of contract because expenditure is transparent and/or because they want the flexibility of directing decisions and changes during the construction phase.
Lock up only
We offer a lock up-only option to clients who wish to directly control the finishing stages of their project. It is only recommended for clients who have the time and experience to successfully manage the internal stage of the build.
We construct the structural elements that require a licensed builder and are covered by the full 6 years of builders warranty. We also provide all external cladding, roofing and external doors and windows. This leaves the client with a building that is complete on the outside, but bare frames on the inside. We have undertaken many lock-up only contracts under both Fixed price and Cost-plus contracts.
This cost-saving building option will leave items including the landscaping, floor coverings, plaster, painting, kitchen and wardrobes, tiling, plumbing and electrical for you to project manage and complete through your preferred suppliers. We are usually invited back to complete the internal carpentry works but there is no obligation.