Project Management Fees

[Matt21]

Can anyone advise on this?

I am renovating a townhouse in London to include a new kitchen, 2 bathrooms, basement extension + moving two stud walls. Total cost likely to be c.120k.

I don't have time to manage the project myself, and have been quoted a PM fee of 15% of the contractor costs + 15% of the price of furniture and fittings. This sounds like c.£20k to the PM to manage the building process and source fittings for a 3 month (?) job. It sounds way over the top, but what sort of rate and on what basis should I be paying?

Many thanks!

 

[Nickybcp]

Hi Matt - I am doing some research into PM fees and found your post on the net. Obviously some time has gone passed since your question and I wondered what the outcome was. Any info would help. Thanks. Nicky