Hard & Soft Cost Budget | Commitment Analysis
| Commitments | Dec '25Budget | Completion + Anchor Tenant | Non-Anchor | ActualsTo date | Commitmentsto date |
|---|---|---|---|---|---|
| Committed by: | June '26 | Pre-Let | |||
| Hard & Soft Costs | |||||
| Infrastructure | 10.7m | 10.7m | — | 10.6m | 10.3m |
| Construction | 40.0m | 40.0m | — | 19.2m | 33.6m |
| MEP | 38.3m | 31.8m | 6.5m | 0.1m | 22.2m |
| Build | 25.6m | 25.6m | — | 0.1m | 22.2m |
| TI Anchor Tenant | 6.2m | 6.2m | — | — | — |
| TI Non-Anchor | 6.5m | — | 6.5m | — | — |
| Fit-Out | 19.4m | 14.4m | 5.0m | — | 1.7m |
| Build | 9.4m | 9.4m | — | — | — |
| TI Anchor Tenant | 5.0m | 5.0m | — | — | — |
| TI Non-Anchor | 5.0m | — | 5.0m | — | — |
| Exterior Works | 0.2m | 0.2m | — | 0.0m | — |
| Total base building | 108.6m | 97.1m | 11.5m | 29.9m | 67.9m |
| Hard Cost Contingency | 4.3m | 4.3m | — | 0.0m | — |
| General Conditions | 16.0m | 16.0m | — | 7.6m | 13.9m |
| Total hard costs | 128.9m | 117.4m | 11.5m | 37.5m | 81.8m |
| Permits & Fees | 3.6m | 3.6m | — | 3.1m | 3.0m |
| A&E Fees | 15.4m | 15.4m | — | 14.0m | 13.6m |
| Insurance | 1.2m | 1.2m | — | — | 1.1m |
| Total soft costs | 20.3m | 20.3m | — | 17.1m | 17.6m |
| Subsidies | (5.7m) | (5.7m) | — | — | — |
| Total hard & soft costs | 143.5m | 132.0m | 11.5m | 54.6m | 99.4m |
- In Mar-25, IC approved a €127.8m hard & soft cost budget. To achieve substantial completion and reach the contractually agreed handover date for the anchor tenant, a total of €132.0m of hard & soft costs are required.
- Additional €11.5m of commitments are contingent on achieving a pre-let for non-pre-let office space.
- The update case reflects the total hard & soft cost budget of €143.5m.
Projection: Commitments and Payments
Nexus · Monthly Investor ReportJune 2026