Anastasiya Burchevska

Conference Space	Ottawa Congress Centre - $15,000 rental fee for 42,000 sq ft (largest hall) (OCC - Common Scenario) 400 capacity hall (4000 sq ft) from 7am-5pm - $2500/day then separate into 5 workshops ($600 per room), 40 Exhibit booths $3400 (2000 sq ft) , Banquet Area (4000 sq ft) min. $30 ($12,000 if totally booked) + tax (includes room and food) for lunch, or $35 + tax. ICC Conference space – 72,500 sq ft ICC - $20,000 rental fee for 42,000 sq ft, ICC Common Area – 8,000 sq. ft. Additional area 22,500 can be sub-divided into separate space, exhibit areas, kitchen, and separate functions on.

Hotels	Westin Hotel Regular Rates (per night rates) (Sun to Thurs) Weekdays – Regular Room - $239-$319 Deluxe - $319-$429 Suite - $394-469 Exec Suite - $579 (Fri – Sat) Weekend - $70 (cheaper than weekdays) ICC Regular Rates (per night rates) Regular - $250-350 Deluxe - $400-450 Suite - $500 – 600 Executive - $1000

Tourism	CN Tower - GATE PRICE (2 million visits per year) $27.55CAD for adults, $21.19CAD for youth. (See full price comparison for details) ICC Building tour and tourist view- $20 for adults, $10 for children under 12 (includes tour of facility), (400,000 visitors per year @ $15 average = 6 million) 400,000 tourists + 427,400 patrons = 827, 400 clientele Average spend $5 each = $4,137,000 gross

Condos	Condos – One Level – most in the last 10 years has been $833,000 at 450 Queen St on the 16th floor (sold in 7 days in June/03) ICC condos will start at $1,500,000 – 1300 sq ft (2 Beds), and $2000/sq ft beyond that (40,000 sq ft total)

Internal market : (2 levels x 91500 sq. ft) at cost of $325/sq. ft
- 183,000 x 325 = $59,475,000

Amphitheatre : (1 level) x (91500 sq. ft) at cost of $350/sq. ft
- 91500 x 350 = $32,025,000

Conference Spaces includes kitchen space for banquet area: (2 levels) x (72 500 sq. ft) at cost of $350/sq. ft
- 145,000 x 350 = $50,750,000

Soundproof area/storage: (7 levels total) x (48500sq. ft) at cost of $150/sq. ft
- 339500 x 150 = $50,925,000

Hotel rooms (total) : (26 levels) x (48500 sq. ft) = 1560 units + Common area
- Common Space (25% of total floor area) 315250 (sq. ft) x $300 = $94,575,00
- Hotels – cost of $175, 000 x 1560 units = $273,000,000

2 restaurants, Internal Observation Deck, and Nightclub: (2 levels) x (48500sq. ft) at cost of $350/sq. ft
- 97,000 x 350 = $33,950,000

Exec. Condos : (6 levels x 48500 sq. ft) = 148 Condos + Common area

Common area - 72,750 x $350 = $25,462,500
Condo area – 148 x 400,000 = $59,200,000

Penthouse (1 level x 10000 sq. ft ) at cost of $500/sq. ft

10,000 x 500 = $5,000,000

Total Cost to build = $685,362,500 + 33% over run and demolition costs = $911,532,125

*Cost to build common space is the same for all levels except Hotels and Condos because the cost is estimated per unit. Overrun costs include permits, planning and other soft costs.

New building costs			$911,532,125
Downpayment			40%
Equity (downpayment)			$364,612,850
First Mortgage			$546,919,275
Interest Rate			6.00%
Amortization Period			25	years
Gross Revenue			$9,606,103	per month
Mortgage Cost			($42,783,700.01)	per year
Property Taxes:		1.10%	($10,026,853.38)
Net Income			$62,462,679	per year
The annual inflation rate in commercial space is:			1.25%
Sell the building after 5 years			$969,945,067
Principal paid on mortgage is:
Year 1			($9,968,543.51)
Year 2			($10,566,656.12)
Year 3			($11,200,655.49)
Year 4			($11,872,694.82)
Year 5			($12,585,056.51)
Total			($56,193,606.44)
Principal remaining upon sale			$490,725,669
Real Estate Commission Payable	7%		($67,896,154.67)	upon sale
Legal Fees on sale			($700.00)
Cashflow profile
	Year 0		-364,612,850
	Year 1		$62,462,679
	Year 2		$62,462,679
	Year 3		$62,462,679
	Year 4		$62,462,679
	Year 5		$473,785,222
IRR is:
			18.9%
*Please note that the condo sales in the building are not included in this calculation.
The net total we have calculated in condo sales is a total of $302,940,000. That is extra revenue not included in

International Congress Centre

Comparative Market and Cost Benifit Analysis