A guide to the key costs that come with moving office.
From a deposit to new furniture, there are many costs you need to consider when relocating offices.
Moving office is always a stressful time, no matter how large or small your business. From finding an office to arranging the relocation and renovation of your new space, it can be easy to forget things, especially when it comes to budgeting.
Although arranging a successful move is the top priority when it comes to office relocations, creating and sticking to a sensible budget definitely comes a close second. In order to be able to devise an effective budget you need to make sure you’ve considered all the key costs first – forgetting something now could prove to be a costly mistake later down the line.
Deposit: You’ll need to factor the deposit of your new office space into your budget – this is usually two months rent but can be as much as rates for one quarter from some providers.
Energy: When devising a budget you need to look into the energy efficiency of your new office building – the efficiency of your building can have a huge impact on the size of your energy bills so you need to budget effectively for this.
Fit out costs: Fit out costs are definitely going to need to be factored in if the space you’re relocating to is out-dated. These can vary greatly depending on how much work needs to be done so you’ll need to get official estimates from contractors before you can budget this cost in. Hiring the same company for design and fit-out can work out up to 40% cheaper than hiring multiple contractors.
IT: Closing down, transporting and setting your existing IT systems can be expensive. When considering how much to factor in, remember to ask if your new office provider has its own technicians who could do it for you – this could save you a fortune.
Legal: You’ll need legal representation to help you to tackle the heaps of paperwork that come with negotiating a new lease and entering into a new lease contract. Like agent costs, these costs can be expensive so shouldn’t be underestimated.