What a basement costs per square foot in prime London
Basement cost per square foot in prime central London runs, as an indicative market range, from about £110 per square foot for a simple cellar conversion to about £700 per square foot or more for a fully finished new dig. The spread is that wide because a basement covers very different jobs, and the honest answer splits by job type before it means anything. These are market ranges gathered from contractor and architect guidance, not a firm cost dataset, and not a quote.
| Job type | Per square metre (indicative) | Per square foot (indicative) |
|---|---|---|
| Converting an existing cellar | £1,200 to £2,500 | £110 to £232 |
| New single-storey dig, structural shell | £3,000 to £5,000 | £280 to £465 |
| New single-storey dig, finished | £4,500 to £7,500+ | £420 to £700+ |
| Dig under the garden | £1,500 to £2,800 | £140 to £260 |
Two terms explain the biggest gap in that table. The structural shell, sometimes called the box, is the excavation, underpinning, concrete structure and waterproofing: the hole made safe and dry. The finished figure adds the fit-out, meaning everything that turns the box into a room, from floors and services to lighting and joinery. A prime specification, with a pool or a deep dig, can push the finished figure towards £900 per square foot in Chelsea commentary, though that is the high end, not the norm.
All the figures above exclude VAT, professional fees and fit-out, which are covered later and move the total materially. A multi-storey or iceberg basement is a different world again, costing from around £500,000 into the millions, but it sits outside this article: in Kensington and Chelsea the current planning rules rarely permit one.