The prefeasibility estimate prepared by the College Quantity Surveyor or under advice from external Cost Manager, based on the client brief to include:

• £/m2 or construction for each option including the main contractor preliminaries, overheads and profit and allowance for pre-construction services
• Professional fees
• Initial surveys and investigations
• Contingency
• Inflation/deflation
• Decant and/or relocation costs
• Fittings, furniture and equipment
• Active ICT and AV equipment
• Initial estimate of VAT (as advised by the Imperial College London VAT Team)
• Assumptions and exclusions

VAT on standard rated goods, services and construction should be allowed at the standard internal Imperial College London rate of 17% and should be confirmed with the College VAT Team.