Refurb V Relocate

By Author: james Bond
Total Articles: 41
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Businesses look to relocate or refurbish their current office space for many reasons… Because they are expanding, downsizing, it’s the end of their current lease agreement or they simply want to refresh their corporate image.

So, refurbish or relocate… How do you know which would benefit your business?

There are no definitive rules which suggest whether a refurbishment or relocation is better, so, before making any decision I would always advise that you evaluate your current space, starting the process with a workplace appraisal. A workplace appraisal should assess your current workspace as well as taking into consideration your future organisation requirements. Spend some time considering your current needs and how you anticipate your company changing over say the next five years.

The result of the appraisal should help you to see if your existing premises would benefit from office refurbishment and space planning or whether you would be best to consider relocation.

At the end of the day your final decision may well come down to cost and what you can actually afford to do, but, to help ...
... you I’ve put together some pros and cons of both options:

Refurbishment

Pros:

Can provide an opportunity for a reorganisation of existing space, this in turn could free up floor space which could be sub-let to generate additional income.

No need for removal costs.

An office refurbishment could transform your business, maximise current office space and provide a workplace better suited to your business needs.

Can be carried out with very little or no disruption to the business if minimal work is required.

Improved staff morale, which in turn could lead to increased productivity and efficiency.

Cons:

Potential disruption to the business if work has to be completed within normal working hours.

Could be costly if complex building work is required to achieve your ultimate plan.

As part of your lease agreement it isn’t always possible to knock down walls or rent more space in the same building.

Relocation

Pros:

Gives you the opportunity to move to better and more appropriate office space.

You have a blank canvas, enabling you to create your ideal office environment.

Current market conditions could mean that landlords offer incentives, for example; initial rent free periods.

The move could take you to an area with better transport links and amenities.

Work could be carried out before the move takes place, meaning you could leave your old premises on Friday and move into your new workspace on Monday, causing no or very little disruption to your business.

A fresh start in a new location could increase staff morale and productivity.

Cons:

Potentially higher costs, with moving fees, legal fees etc…

Finding the right premises could be time consuming.

Dilapidation costs may be incurred from your current location.

Potential loss of staff if they do not want to or simply can’t relocate.

In conclusion, deciding between an office refurbishment and office relocation can be a daunting prospect for any business.  But, whatever choice you make I would strongly recommend that you employ the services of a reputable and trusted office refurbishment and relocation specialist, one that will manage all aspects of your project and will ultimately help you to create an environment which meets all of your business objectives.