Client: Audley – St Georges Retirement Village
Services: Lifecycle Cost Model
Sector: Care Homes
Location: Birmingham, West Midlands
Project Summary:
Opex was commissioned by Audley retirement villages to undertake a 125-year lifecycle model exercise on their St Georges retirement village.
The Audley St George’s retirement village, located in Birmingham, is made up of two grade 2 listed villas, a restored Victorian building and new buildings that all house 95 luxury cottages and apartments.
Lifecycle services
The lifecycle cost modelling process determines the total anticipated cost of major repair and replacement over the planned 125-year life of the asset.
When combined with maintenance cost estimations, the whole asset liability can be assessed supporting financial planning and funding.
Obstacles
Due to the modelling period, a normal industry 25-year model would be unable to give a cost summary that can be relied upon. Modelling over 125 years requires the replacement of the vast majority of the building, sometimes multiple times.
Our approach included grouping similar properties together and undertook the lifecycle modelling for each group. These added to properties that could not be grouped like the main halls and listed buildings, to create the full model.
Results
Opex successfully modelled all buildings so the client is now able to understand the full assessment value of their assets and know when each one needs to be maintained, fixed, or replaced.
To visit the Audley St Georges website click here.
To find out more about lifecycle modelling click here.
And to get in contact with us call us on 01858 440692 or email us at info@opex-consulting.co.uk.
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