Fact sheet: Stadium cost plan
The Project Definition Plan (PDP) has considered the capital budget required to design and construct the new Perth Stadium and its Plaza, plus the essential infrastructure in the Sports Precinct around the Stadium, based on the Master Plan and the Functional Brief developed in 2012.
The starting point for the analysis was the estimated capital costs for development of the new Perth Stadium which was included in the final Major Stadia Taskforce report prepared in 2007. The approach taken in the PDP was to initially prepare an estimate in June 2011 dollars so the current cost plan could be compared to the original $700 million indicative budget announced by Government in June 2011.
This PDP cost plan does not include the public transport and pedestrian access facilities. They are included in the Transport PDP prepared by the PTA.
The new Perth Stadium and Sports Precinct have been costed using a range of benchmarks from a number of Eastern States stadia. These included Etihad Stadium, the MCG Northern Stand, AAMI Stadium (Melbourne) and the Adelaide Oval redevelopment.
In light of the significant decline in the market rates for State Government building projects since 2008 and taking into account the unique nature of a major sports stadium, an assumption of zero increase in building costs (escalation) since 2007 has been adopted. It has therefore been assumed that a June 2012 estimate is the same as June 2011 (and would have been the same in 2007).
Capital Cost Estimate for the new Perth Stadium
|Stadium and Plaza Works||Adjusted taskforce brief 2007|
|Current project brief 2012
|Total base Stadium and Plaza works
|Total fit-out and allowances||108,240||103,202|
|Total margins and contingency
|Total consultancy fees
|TOTAL STADIUM WORKS ($June 2011)
The first column shows the cost plan prepared for the 2007 Taskforce’s functional brief, adjusted for the removal of 3,000 underground public car parks, and for the actual escalation.
There are a number of material differences in the project scope between the Taskforce brief and the current brief, as follows:
- Roof coverage has increased from 80% to 85%.
- There is an allowance for several items not included in the 2007 Taskforce cost plan, including:
- a digital backbone;
- a drop in cricket wicket; and
- fit out of the food and beverage outlets.