Move Office or Refurbish Existing Office? You decide
The dilemma of whether to move office or refurbish your existing one is a common question in today's economic uncertainty. Whilst an office relocation may help to get you in bigger, better and perhaps cheaper office space, the upheaval of an office refurbishment whilst your business is trying to continue "business as usual" can be disruptive and frustrating!
To help you weigh up your options and decide on the most appropriate solution for your business, here are 3 pros and cons for both moving office and staying put/refurbishing.
Pros of Moving Office
- Starting afresh in a new environment can increase overall productivity and attract new staff
- You may need to down/up size - in which case, an office move may be the best solution if your current office space is unflexible
- There is the potential for rental incentives from a new landlord and an office lease which is more suited to your business and financial requirements
Cons of Moving Office
- Higher initial cost outlay with migration costs, legal advisory fees etc
- The whole upheaval of organising an office move which can distract from day-to-day activities and duties
- There will be cost of dilpaidations from existing office
Pros of Refurbishing Existing Office
- Potentially less expensive with less business downtime expected
- Lower refurbishment costs without the need for migration fees
- An office refurbishment will provide you with an opportunity to reconfigure your existing space which in turn, may free up additional space that could be used for potential sub-letting and additional income
Cons of Refurbishing Existing Office
- Potentially disruptive to the business as it has to work around the staff during their working hours (noise, dust etc.)
- The building works can turn out to be more complex (and therefore costly) in order to reconfigure the space
- You may not be able to re-negotiate your existing office lease with the landlord on more favourable terms
Whatever you decide to do, make sure you hire an Office Design Company who will carry out a Workplace Appraisal which reviews your current working practices to help you decide the best option for your business.
Get the FREE copy of the Tenant's Guide to Office Design to help you plan your new office and reburbishment.
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