Basement cost

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Basement cost

Postby ClaphamExtension » Mon Apr 18, 2022 7:17 am

I’m interested to know rough costs for digging and fitting out a basement please. There is already a small basement but we’re thinking of digging out the whole front section under the living room. Many thanks
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Re: Basement cost

Postby Tealover » Mon Apr 18, 2022 2:08 pm

Hi - we did a full front to back adding 84 m2 a couple of years back I I think the total cost was in the region of £350k for dig and fit out. You then should allow for skips and licences and fixture and fittings. I understand prices for labour and materials have increased since then. One other thing to consider is depth - where your quotes differ - ask what the depth will be. 
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OLBC Group
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Joined: May 2014
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Location: 5 Morie Street, Wandsworth Town, SW18 1SL & Marina Studios. Chelsea Harbour, SW10 0XD

Re: Basement cost

Postby OLBC Group » Mon Apr 25, 2022 11:40 am

Some things have got a lot more expensive and other things have not changed much at all.

Things that have got more expensive:-

- Labour + 50%+
- Steel and reinforcement + 100%+ (fabricated can be a lot more than that)
- Timber particularly plywood +50%
- Diesel - red diesel exemptions of fuel duty ended added to the massive increase in general prices
- Disposal costs - due to diesel and labour price increases
- Other materials generally +25-50% on pre BREXIT prices

So what did we do about it? We worked very hard to control costs:-

- bought 2 x fully electric JCB diggers during lockdown these do the work of 4 guys and charge from the mains so no diesel and the costs are fixed
- have our own wholesale business that supplies the construction arm so cutting out some of the more inflated pricing and we keep our own stocks
- Steel we work with the best engineers and fabricators to keep costs down
- Disposal we have a very economic way of getting large loads out in most cases
- all our plant and machinery is fully owned so we have no ongoing hire costs for most jobs

So in summary we do have cost pressure but we have done our best to mitigate them but thinking things through.

We would be very happy to price the job for you with no commitment at all or even just talk you through the process.

It is misleading to give m2 prices as the prices vary wildly according to:-

- ground type
- ground water
- parking and loading
- exact work that needs to be done to the existing structure

The other responder makes two interesting points:-

- ceiling height is a big cost factor - make sure you are comparing apples with apples
- skip costs - these should be in the contract 
- bay suspension costs are never in the contract - if we pay them we have to charge 20% VAT if you pay them direct to WBC there is no VAT.

Hope that help, do feel free to get in touch!

The Oxford & London Building Company is a long-established local firm specialising in major home refurbishments & basement conversions in London

0208 877 0555


5 Morie Street
SW18 1SL

Marina Studios
SW10 0XD
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