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 relocation, 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 also going to be a factored if the space you’re relocating to is out-dated. These can vary greatly depending on how much work is required, therefore you’ll need to get official estimates from contractors before you can budget in this cost. Hiring the same company for design and fit-out can work out up to 40% cheaper than hiring multiple contractors when moving office.
IT: Closing down, transporting and setting your existing IT systems can be expensive. When considering all these factors, 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.
Londonoffices.com are specialists in London office space, providing a free, personal service for companies seeking a London based home for their business. Moving office can be time consuming, stressful and expensive, Londonoffices are here to make the journey a whole lot smother.