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Office Refurbish or Office Relocate? How to Decide

In the words of Channel 4's Phil Spencer and Kirstie Allsop - when your office lease is coming up for renewal - will you love it or leave it?

Love it or Leave it? Refurbish or Relocate? 

When it comes to updating or upgrading your office space, businesses have two options: refurbishing their current office or relocating to a new one. Both options have their pros and cons, so it’s important to weigh them carefully before making a decision. Here, we’ll discuss the key factors to consider when deciding whether to refurbish or relocate your office.

Cost Comparison

One of the most important factors to consider when deciding between refurbishing and relocating is cost. Refurbishing an existing office is usually cheaper than moving to a new one. This is because you won’t have to pay for things like moving costs, legal fees, and the cost of new furniture and equipment. However, depending on the extent of the refurbishment needed, it can still be quite expensive.

On the other hand, relocating to a new office can be more expensive in the short term, but it may be more cost-effective in the long run. For example, if you’re moving to a more modern and energy-efficient building, you may see savings on your energy bills in the long term. Additionally, if the new location is in a more desirable area, it may attract more customers or clients.

An architect working on a draft with a pencil and ruler

Space and Layout

Another important factor to consider when deciding between refurbishing and relocating is the space and layout of your current office. If your current office is cramped and poorly laid out, refurbishing may not be able to fully address these issues. In this case, relocating to a new office with a better layout and more space may be the better option.

However, if your current office has ample space and a good layout, refurbishing may be a more cost-effective solution. It can also be a good opportunity to reorganize the office space and make it more efficient.

Location, Location, Location

Again Phil Spencer and Kirstie Allsop have something to say here!

The location of your office is also an important factor to consider when deciding between refurbishing and relocating. If your current office is in a prime location with good transport links and easy access to local amenities, it may be worth refurbishing it.

However, if your current office is in a less desirable location, it may be worth relocating to a new office in a better location. This can help attract more customers or clients, which can ultimately benefit your business.

aerial photography of town

Culture Counts – Refurb or Move?

Culture is an important factor to consider when deciding whether to refurbish or relocate your office. The culture of your company plays a significant role in shaping the work environment and can greatly impact the productivity and morale of your employees.

If your current office is a place where your employees feel comfortable and at home, refurbishing it can help maintain that sense of familiarity and continuity. This can be especially important if you have a strong company culture that you want to preserve. However, refurbishing your office can also be an opportunity to create a new and improved work environment that aligns better with your company culture.

On the other hand, relocating to a new office can be an opportunity to create a fresh start and establish a new company culture. This can be especially beneficial if your current office does not align with your company culture or if you want to make a significant change to your company culture. But it also can be a big change for your employees that can cause discomfort and loss of productivity.

It is important to involve your employees in the decision-making process and consider their opinions and feedback when deciding whether to refurbish or relocate your office. This will help ensure that the new office environment aligns with your company culture and that your employees feel comfortable and engaged in their new surroundings.

Refurbishing Wins?

One example of a business that decided to refurbish its office is a technology company based in London. The company’s current office was in a great location but was in need of updating. Instead of relocating, the company decided to refurbish their office, including new paint and flooring, updated lighting, and new furniture. This allowed them to stay in a prime location while also modernizing their office space.

Considerations When Refurbishing

When refurbishing your office, there are several key factors to consider to ensure that the refurbishment is successful and meets the needs of your business and employees.

  1. Purpose and goals: Clearly define the purpose and goals of the refurbishment. What specific issues are you trying to address? How will the refurbishment improve the work environment and productivity of your employees?

  2. Space and layout: Consider the existing space and layout of your office and how it can be improved. Think about ways to make the space more efficient and functional, such as reconfiguring the layout, adding more natural light, or creating more collaborative spaces.

  3. Branding and design: Consider how the refurbishment can align with your company’s branding and design aesthetic. Use colours, materials, and furniture that reflect your company’s identity and create a cohesive look and feel.

  4. Sustainability: Think about how the refurbishment can make your office more sustainable, such as by incorporating energy-efficient lighting, heating and cooling systems, and water-saving fixtures.

  5. Technology: Consider how the refurbishment can improve the technology infrastructure of your office, such as upgrading to faster internet, adding more power outlets, or incorporating smart technology.

  6. Health and safety: Consider the health and safety of your employees during the refurbishment process. Make sure that the refurbishment meets all relevant health and safety regulations and that your employees are not exposed to any unnecessary risks.

  7. Budget and timeline: Create a realistic budget and timeline for the refurbishment and make sure that it fits your business’s financial and operational needs.

  8. Employee Feedback: The most important factor, involve your employees in the decision-making process, and consider their opinions and feedback. This will help ensure that the new office environment aligns with your company culture and that your employees feel comfortable and engaged in their new surroundings.

By considering these factors, you can create an office space that is functional, efficient, and reflective of your company culture, which ultimately will benefit your business and employees.

Office Relocate

Relocating – The Smart Choice

Another example of a business that decided to relocate its office is a retail business based in Manchester. The company’s current office was in a less desirable location and was too small to accommodate its growing team. After researching potential new locations, the company decided to relocate to a new office in a more central location with more space. This allowed them to attract more customers and also provided a better working environment for their employees.

What should be considered when moving?

When moving your office, there are several key factors to consider to ensure that the move is successful and meets the needs of your business and employees.

  1. Location: Consider the location of the new office and how it will impact your business. Think about factors such as accessibility, proximity to public transportation, and local amenities and services.

  2. Space and layout: Make sure that the new office has enough space to accommodate your current and future needs, and that the layout is functional and efficient. Think about ways to make the space more flexible and adaptable for future changes.

  3. Lease or Purchase: Consider whether you want to lease or purchase the new office space. Leasing may be more cost-effective in the short term, but purchasing can provide more long-term stability and flexibility.

  4. Cost: Create a realistic budget for the move and make sure that it fits your business’s financial needs. Factor in costs such as moving expenses, legal fees, and the cost of new furniture and equipment.

  5. Timeline: Create a detailed timeline for the move and make sure that it fits your business’s operational needs. Consider factors such as the availability of the new office space, the timing of the move, and the potential disruption to your business.

  6. Technology: Consider the technology infrastructure of the new office and how it will impact your business. Make sure that the new office has the necessary technology and internet capabilities to support your operations.

  7. Health and Safety: Consider the health and safety of your employees during the move process. Make sure that the move meets all relevant health and safety regulations and that your employees are not exposed to any unnecessary risks.

  8. Employee Feedback: Involve your employees in the decision-making process, and consider their opinions and feedback. This will help ensure that the new office environment aligns with your company culture and that your employees feel comfortable and engaged in their new surroundings.

By considering these factors, you can ensure that the new office space meets the needs of your business and employees and that the move is as smooth and seamless as possible.

Guide to Dilapidations: Returning properties to their agreed condition and meeting legal obligations

Is the end of your lease due soon? Have you been issued with a dilapidations schedule? – understanding it can be a daunting task. Download our Free Guide to Dilapidations and you can learn how we can help return your property to its agreed condition and meet legal obligations

What about Dilapidations?

Dilapidations are a potential issue to consider when deciding whether to refurbish or relocate your office. Dilapidations refer to any repairs or maintenance that need to be carried out on a property before it is returned to the landlord at the end of a lease. If a tenant does not carry out these repairs or maintenance, the landlord may charge the tenant for the cost of making good the property.

Check Your Lease

If you are considering refurbishing your current office and you are on a lease, it is important to check the terms of the lease to see if there are any specific requirements for dilapidations. If you are planning on making significant changes to the property, such as structural changes, you may need to obtain the landlord’s consent.

If you are considering relocating to a new office, it is important to check the terms of the lease to see if there are any specific requirements for dilapidations at the end of the lease. If you are planning on making significant changes to the property, such as structural changes, you may need to obtain the landlord’s consent.

It is also important to be aware that if you are moving out of an office space, you may be liable for dilapidations even if you have not caused the damage. It is a good practice to have a proper surveyor inspection before you move out of the space and to negotiate the terms of the lease to define the responsibilities and liabilities of the parties.

It is important to consider dilapidations when deciding whether to refurbish or relocate your office, as they can have a significant financial impact on your business. You may want to seek professional advice from RFM Group who have experience in commercial property to assist you in assessing your liabilities and negotiating the lease terms.

Conclusion

In conclusion, when deciding whether to refurbish or relocate your office, it’s important to consider factors such as cost, space and layout, and location. Refurbishing an existing office can be a cost-effective solution if your current office has ample space and a good layout. However, relocating to a new office in a better location or with a better layout can ultimately benefit your business in the long run. Ultimately, the best decision will depend on your specific business needs and circumstances.

Speak to the Property Experts...

Whether you need advice on a new project or have an existing property or portfolio - We're always happy to help. Please call or 08000 277 262 email proactive@rfm-group.com

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