REINSTATEMENT COST ASSESSMENT FOR INSURANCE PURPOSES IN RESPECT OF DOLPHIN COURT, EASTBOURNE ON BEHALF OF DOLPHIN COURT (EASTBOURNE) LIMITED

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1 REINSTATEMENT COST ASSESSMENT FOR INSURANCE PURPOSES IN RESPECT OF DOLPHIN COURT, EASTBOURNE ON BEHALF OF DOLPHIN COURT (EASTBOURNE) LIMITED Our ref: 2016/181 Prepared by: Date: October 2016 Southeast Building Surveyors Signed: Tel: For and on behalf of Southeast Building Surveyors Limited

2 1.0 Introduction 1.01 Introduction In accordance with instructions confirmed in an dated 3 rd October 2016, from Mr Peter Sanders of Sanders Property Management, we have inspected the property known as Dolphin Court, Cliff Road, Eastbourne, East Sussex, BN20 7XE to carry out the Reinstatement Cost Assessment for building insurance purposes on a Day One basis Inspection The inspection was undertaken by Mark Sztyber of Southeast Building Surveyors Ltd on Friday 14 th October Access was gained to all external areas for measurement and inspection Description The property has a flat roof, brick elevations, and feature balconies to the front elevation. It provides residential accommodation in the form of flats Declared value We recommend that for the forthcoming year commencing 21 st October 2016 the base sum insured for the building be as shown on the attached schedule in the total sum of: 9,034, Nine million and thirty four thousand pounds No allowance has been made for the effects of inflation.

3 2.0 Reinstatement cost assessment parameters 2.1 Parameters of assessment This figure is our assessment of the cost of reconstructing the property at the date of the assessment and has taken into consideration demolition, debris removal, temporary shoring and professional fees likely to be incurred in its reconstruction. This figure may be used to make your own insurance arrangements or for you to negotiate a claim with the assistance of your broker and your insurers The figure is calculated on the basis of estimated building costs and may not, in all circumstances, reflect the lowest tender price available The figure is calculated using the Gross External Area (GEA) of the property, as defined in RICS' Code of Measuring Practice. The GEA has been calculated from site measurements recorded during our inspection In estimating the cost of reinstatement it has been assumed that the building and its use will be similar to those existing, and the rebuilding will be to the original design in modern materials and using modern techniques to a standard equal to the existing property, whilst complying in all aspects with current legislation and statutory requirements. We have made no investigations into local or structural plans We have made allowance in our assessment for the reinstatement of, for example, external pavings, services, and the like, which are assumed will be damaged as a result of a fire or similar loss We have not included within our assessment allowances for tenants' fitting-out works, fixtures, fittings or furnishings. However, in assessing the extent of the building structure, services and fittings, we have made reasonable assumptions in respect of the inclusion of items that may have been installed by tenants but which, with reference to the lease and their degree of performance and annexation to the structure, are now deemed to be of benefit to the owner No allowance has been made for any remediation works that may be required under legislation relating to contaminated land, which may arise in the event of reinstatement of the property, since the extent and costs of this cannot be reasonably determined without separate detailed and costly investigation. You may wish to draw this to your insurer's attention This assessment does not include allowances for providing alternative accommodation from the date of damage to the date of re-occupation The assessment makes no allowance for loss of rent or other pecuniary loss that may arise from the destruction of the building.

4 This assessment does not include allowances for cover in respect of other property insurances, such as plant and machinery within the building, occupiers' fitting-out works, contents, plate glass and Third Party and Public Liability matters Attention is drawn to the need to re-assess the base sum insured on a regular basis. Good practice advises that this is dealt with by way of a desktop update on an annual basis, with a full re-assessment undertaken in every third year. A full assessment also needs to be prepared in the event of substantial alterations being undertaken to the property.

5 2.2 Declaration This report is provided for insurance reinstatement purposes only and does not contain any advice concerning the condition of the property or possible defects therein It should be noted that there is no direct relationship between the reinstatement assessment and the market value of the property This assessment has been prepared with regard to the advice given by the Royal Institution of Chartered Surveyors and insurance companies for building insurance purposes and is not appropriate for any purpose other than insurance.

6 3.0 Reinstatement cost assessment OCTOBER 2016 Day One basis Property address Dolphin Court, Cliff Road, Eastbourne, East Sussex, BN20 7XE. Property description The property has a flat roof, brick elevations, and feature balconies to the front elevation. It provides residential accommodation in the form of flats. Day One assessment Gross External Area: 6,208 m 2 Rebuilding and on-costs a) rebuilding cost 6,208 m 1, / m 2 7,688,000 b) demolition cost: included at current BCIS rates c) professional fees: included at current BCIS rates External works a) rebuilding cost: 1,346,000 b) professional fees: included at current BCIS rates Rebuilding period (months) 24 TOTAL REINSTATEMENT COST ASSESSMENT: 9,034, Excluding VAT