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Relocating Office? Careless Plans Cost £££’s

The current office rental market can be noted for both it’s lack of available space and for a return to pre-crash rental costs, most notably for office space in the West End and City of London. These factors can pile the pressure on if you’re in need of a new home for your business and working to a fixed deadline. Finding yourself cornered by greedy Landlords or fighting for space in a competitive market could easily lead to unfavourable terms being agreed or for excessive costs to mount up.

We are often asked about the ins and outs of the market, the trends for rent free periods, landlord contribution to fit-out costs, rental levels and service charges. It is also common among clients for confusion to arise around the major one off capital cost of the design, project management and fitting out of their office space.

One thing is certain, that a misjudgement in the amount of space needed or the choice of the wrong building can have a major negative affect on the costs associated with a relocation.

What could possibly go wrong?

When selecting a new building there are a number of key factors to consider. The shape and layout of the floors, the arrangement and capacity of the services, the level of connectivity for IT and the standards achievable regarding sustainability among others. A simple error in your space calculations can easily cause a six or even seven figure increase in your spend over a ten year lease. Worse still it has been known for unlucky tenants to commit to buildings that fundamentally fail to support their services needs. At best this leads to increased capital costs and timescales and at worst to major operational disruption.

Get expert advice

There are so many variables driving a typical office relocation project that it is crucial to take expert advice at an early juncture. Programming key events, undertaking a thorough property evaluation process and understanding your spatial and operational needs are vital to avoid some of the common costly mistakes.

The team here at Strategy Hat are set up to provide planning, programming and budgetary advice to cover your initial needs. Then when you have a thorough understanding of the way forward we are able to provide informed introductions to professionals and suppliers who are perfectly matched to support your needs for both the creative development and the project build phase.

If you are considering an office relocation right now take the guess work out of your strategic decision making and supplier selection – careless planning may not cost lives but it does cost ££££’s and the stress I’m sure you could do without!

 

Take a look at our Guide to Office Relocation Suppliers & Professionals

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