Delivering a £3.5m Luxury New Build in Liverpool
At Kingsmead Consultants, we pride ourselves on providing expert quantity surveying services tailored to the unique needs of our clients. One of our recent projects involved managing a £3.5m bespoke luxury new build development in Liverpool for a private client.
The project showcased our ability to deliver cost-effective solutions, value engineering expertise, and meticulous project management, ensuring the client achieved their vision within budget.
Feasibility Study and Value Engineering
The client engaged Kingsmead Consultants at the outset to conduct a comprehensive feasibility study. With a clear vision for a high-end, one-of-a-kind property, the client sought to identify areas where their investment would deliver the greatest impact. Our team worked closely with the client to:
-
Assess the overall project cost.
-
Identify opportunities for value engineering.
-
Allocate the budget strategically to prioritize “wow factor” elements, such as bespoke finishes and high-end features.
Through detailed analysis and consultation, we provided the client with a clear financial roadmap, ensuring their aspirations were both practical and achievable.
Contractor Selection Process
With the design finalized, Kingsmead Consultants managed the tender process, inviting specialist contractors to bid for the project. Three contractors submitted proposals, and our team conducted a thorough evaluation:
-
Contractor 1: Their submission raised red flags due to inconsistencies in pricing. Despite the design being complete, they included large provisional sums and lump sums without adequate detail.
-
Contractor 2: While their pricing was competitive, we identified inflated costs for excavation and works below DPC. Mid-tender meetings revealed the contractor’s financial instability, as they appeared to be front-loading costs to address cash flow issues.
-
Wickstead Developments: This contractor demonstrated expertise in bespoke luxury projects and had a proven track record. Their tender submission aligned closely with the cost breakdown prepared by Kingsmead Consultants, showcasing both accuracy and reliability.
Based on our evaluation, Wickstead Developments was awarded the contract under a JCT Standard Building Contract, with Kingsmead Consultants administering the agreement.
Expert Project Management
Our team closely monitored the project to ensure it remained on track and within budget. Key responsibilities included:
-
Conducting monthly valuations.
-
Managing project variations.
-
Overseeing monthly applications for payment.
One significant challenge was the integration of an interior design company at the client’s request. While their recommendations added to the property’s luxury appeal, they often came with substantial costs. For example:
-
Bespoke soft furnishings, wallpaper, and light fittings were significantly higher than standard market rates.
-
Handmade kitchen items were difficult to benchmark due to their unique nature.
Kingsmead Consultants played a critical role in managing these costs, ensuring the client’s budget was protected without compromising on quality.
Collaboration and Client Satisfaction
By fostering collaboration among all stakeholders, including the contractor and interior design team, we delivered a stunning property that exceeded expectations. The bespoke luxury home featured:
-
High-end finishes and furnishings.
-
Unique architectural details tailored to the client’s vision.
-
A carefully balanced budget that avoided unnecessary overspending.
Wickstead Developments executed the project to an exceptional standard, leaving the client thrilled with the results. Thanks to Kingsmead Consultants, the client achieved their dream home without feeling overwhelmed by unforeseen costs or budget overruns.
Conclusion
This £3.5m luxury new build in Liverpool is a testament to the value of expert quantity surveying and diligent project management. At Kingsmead Consultants, we ensure our clients achieve their goals while maintaining financial control. If you’re planning a high-end development and need expert guidance, contact us today to see how we can help bring your vision to life.
For more information, visit Kingsmead Consultants or call us to discuss your project.
