This is a question we hear a lot. We thought it might be useful to outline the major factors that can affect the cost of your office refurbishmentÂ London project â€“ many of which are satellite costs, which youâ€™ll need to take into account when you put your whole project budget together.
The financial impact of a refurbishment is a difficult thing to measure completely â€“ because the new design of your office, particularly any new equipment you may have had installed, leads over time to increased productivity and a greater potential for expansion. For now, weâ€™ll concentrate simply on the known costs associated with an office refurbishment London project: both immediate costs and â€œhiddenâ€ costs.
Immediate refurbishment costs are anything you have to pay in order to have your office taken apart and put back together again. These costs include design fees and planning fees as well as the figure associated with the labour and materials.
Hidden refurbishment costs range from the cost of finding somewhere to do business in while your office is being rebuilt (this is also known as â€œswing spaceâ€), or finding somewhere to store your hardware in the interim, to potential changes in rent and energy bills. Note that in many cases a refurbishment diminishes the overall energy used by your business for doing what it did before â€“ but may, overall, still result in you using more energy because you now have more space, or have upgraded your IT along with your building to power-hungry modern models.
When you have an office fit out or refurbishment, you (or your project manager) are obliged to bring in a number of independent bodies to assess the plans and the work. These assessments are costs that need to be added to the ledger, and include fire plan assessments and environmental impact assessments.
As works progress, your office becomes a building site, which is potentially more open to ingress than a finished building. You may need to budget for night security while the office refurbishment is taking place.
Be aware that if refurbishments curtail your ability to conduct business as usual, one of the hidden costs of the work may be a temporary dip in your own earning power. Talk to your office refurbishment London project manager about creating a plan for keeping your business running during works.
If you have any questions about what to expect when youâ€™re embarking on a refurbishment, you can always talk to us. Email firstname.lastname@example.org or call us on 020 7481 0222.