REF
REF
OVERSEAS ESTATES DEPARTMENT : DCF CALCULATION
PROJECT: HONG KONG PASSPORT OFFICE
OPTION A: BUILD SHELL
BASE YEAR:
1993
TDR: 6.00(%)
ITEM
START
YEAR
END
YEAR PERIOD
AMOUNT
DF
NPV
COST
Consultants' fees
1994
1
40,000
.94
Building costs
1994
1
328,000
.94
37,736 309,434
Consultants' fees
1995
2
39,000
.89
34,710
Building costs
1995
2
328,000
.89
291,919
Consultants' fees
2002
9
30,000
.59
17,757
Fit-out costs
2002
9
246,000
.59
145,607
NPV This Option:
PROJECT:
HONG KONG PASSPORT OFFICE
OPTION B:
RENT
837,163
BASE YEAR:
1993
TDR:
6.00(%)
ITEM
START
YEAR
END
YEAR
PERIOD AMOUNT
DF
NPV
COST
Rent (for fit-out
exercise)
2001
Rent 820 sq m
2002
2006
8
9-13
150,000 295,200
•
63
2.64
94,500 779,328
Fit-out costs
(includes fees of 12%)
2002
9
276,000
.59
163,364
Dilapidations/
Restoration
2006
13
90,000
.47
42,196
NPV This Option:
1,079,388
PJADS.282