The Savills Blog

When should you give your office a mid-term health check?

With many UK office markets experiencing a lack of new build space, a number of regions are seeing a significant growth in the volume of refurbishments as a result. However, with trends and designs moving on and changing faster than ever, how long after a major refurb should you consider giving your office a refresh?

Building refurbishments are often dictated by key moments such as business acquisitions or lease events. With the latter, a major fit-out will frequently take place at lease commencement, but then too often the next improvement isn’t considered until the cracks and chips start to appear.

This is usually towards the final third of the lease and leaves occupiers with a decision: should they push through to the end with ageing accommodation, or  spend money only for this to be surplus to requirements in the near future?

With refurbs now seemingly dating quicker than ever, driven by evolving trends and technological developments, it is certainly worth considering a light refurbishment earlier into the cycle, keeping on top of both design and finishes without the need for major change and therefore substantial costs.

For a typical 10-year lease, considering this refurbishment at the five-year mark keeps everything fresh and gives time to enjoy the newly refurbished space.

When considering a refresh it is important to prioritise the client fronting areas, as this space provides the initial perception of your business to the outside world. Similarly, the reception should always reflect the company’s corporate image, as should the meeting rooms. Even if the quality of the installation is still in good condition, if the corporate image has moved on, then so should the office space.

While not externally facing, back-of-house areas consistently generate high levels of footfall and therefore should also be considered when it comes making improvements, particularly given the impact the day-to-day office environment has on employees’ wellbeing, productivity and retention levels.

In order to ensure that the benefits of a refurb are maximised to their full potential, and that an office stands the test of time, having a planned maintenance programme in place is key. Forecasting the lifespan of various elements means that costs are factored in and therefore won’t cause an unexpected shock to occupiers later down the line.

You may not know what you want to do in five years’ time but knowing that you need to do something allows time to think proactively rather than reactively.

As we shift to an ever more diversified, progressive and expanding workforce, providing employees with the best office accommodation to suit their business needs is key. By maximising value in refurbishments and instigating a thorough maintenance plan afterwards, not only will it save costs in the long term but will also establish the best performing working environment without compromising the needs of your business

 

Further information

Contact Savills Building & Project Consultancy

 

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