You have been asked to prepare an insurance valuation assessment for a CBD commercial office building. The effective date of your assessment is the $1$ May $2024.$ You have been provided with the following information:

Land Area: $1,200$m$2$

Total Gross Building Area: $6,000$m$2$

Net Lettable Office Area: $3,700$m$^2$

Gross Office Area: $4,000$m$2$

Basement Car Parks: $80$ spaces

Year Built: $1$ May $2014$

Effective Building Life: $60$ years

Current Office Building Costs: $$2,500/$m$^2$

Current Car Park Building Costs: $$1,200/$m$^2$

Other improvements: Nil

Professional Fees: $10\%$

Building Cost Inflation: $3\mathrm{.}0\%$ per annum $($forecast for the next three years$).$

Reconstruction Period: $18$ months

Demolition Period: $3$ months

Demolition Cost: $$100/$m$^2$

N$.$B$.$ All costs quoted are on a GST exclusive basis.

Required:

Calculate the following valuation estimates on the above building $($Round to the nearest dollar$)$ in the text field below and answer the following numeric questions based on the outcomes of your analysis:

Reinstatement Value

Reinstatement Inflation

Indemnity Value

Indemnity Inflation

Demolition Estimate