Reasons to Move Office
Common Reasons Why Businesses Need to Move Office
At some stage in the lifecycle of a business, it becomes necessary for a company to move office. Research has shown that companies move office on average once every seven years (the seven year itch?!) and there are several major reasons why companies may choose to move office:
1. Lease Expiry
The expiration of your office lease gives businesses an ideal opportunity to review whether their current office space is still satisfying their requirements. TOP TIP: If you choose to stay, seek professional advice from a Property Agent about renewing your office lease at an early stage to give you the best chance of securing favourable lease terms.
2. Outgrown Office Space
One of the more common reasons to move office is that you've simply outgrown your office space in terms of size or needing better facilities and it's time to expand your business and move to bigger offices. TOP TIP: Use the Office Space Calculator to work out how much office space you're going to need when you move office.
3. Costs
Real Estate costs have come under close scrutiny by businesses wanting to reduce their overheads and maximise their assets. The rise in office rents means that many companies are looking for cheaper office accommodation with better lease incentives. TOP TIP: Start your search for office space early with a local Property Agent to give you the best chance of securing the ideal premises.
4. Need for Better Location
Location is an important factor when it comes to choosing office space. Companies may choose to move office to be located nearer to clients or to break into new markets. TOP TIP: Always consider your staff when deciding on the location of your new office. The new office needs to be easily accessible for their commute to and from work.
5. A Fresh Start
An office move can do wonders for the morale of a company and its staff, and open up a whole world of fresh opportunities. A move to new offices may well just give your company the morale-boost it needs. TOP TIP: You must consider all your options against your reasons for moving to make sure that you are ready to relocate your business.
Use the Office Space Checklist to help you decide whether your current office space is meeting all your requirements and whether it's time to move office.
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