Money on the Money

Last of the planning consultants was David Money, a quantity surveyor experienced in estimating work. In 1965 he set up the first elemental estimating system to operate in New Zealand (as distinct from the cost per square foot procedure), which has since been adopted by the Quantity Surveyors' Institute of New Zealand and is standard practice in large firms and government departments.

Money began by making the point that it was impossible to estimate the cost of the building by square footage, as this method relied heavily on large amounts of historical data, which did not exist for university buildings. The estimates they had come up with were in fact condensed versions of the minutely detailed Schedules of Quantities provided to contractors for tendering purposes.

The saving of about $160,000 resulting from retaining the Old Hunter facade was not a great amount, he noted, but added that it was important to realise that this retention would not, as was widely thought, add costs to the building programme. To build the facade anew would, in todays terms, cost at least $1,000,000. He then coined the ever popular phrase, that its destruction would be "economic as well as cultural vandalism".

Stating that the planning was, of course, far from finished, he said that discussions between University and consultants would form a normal part of the design process, and that "cost planning will ensure that entirely suitable accommodation is provided for the least expenditure. We cannot predict whether the estimates will be increased or decreased by this process but the University can be assured of good value".

Money explained that staging the process of rebuilding was considered by the consultants as the best way of approaching the scheme. Much valuable material would be saved for reuse, much valuable information learned about the structure of the present building for later use. Pointing again to Old Hunter, he finished by saying that consultants felt the estimated $4,000,000 for the work was "a modest cost for new space with such a magnificant facade."