Office Relocation Indicators
If you've noticed several issues with your office or you're getting negative feedback from staff about it, you might be wondering "Do we need to move office?" Moving office is a major project, and shouldn’t be undertaken lightly. An office refurbishment may be able to resolve the shortcomings of your office in a more cost-effective and less disruptive way. However, sometimes a complete relocation is necessary to resolve your workspace issues.
We've been carrying out refurbishments and relocations across London and the UK since 2008. Today, we'll identify and explain the 4 most common reasons our clients need to move office, and why they matter. By the end, you'll be able to identify if you have any of these issues, and if so, you'll be ready to get started planning your office move.
Lease Expiry
The most obvious reason to move office is that your lease term is expiring in the next 12-24 months. Unsurprisingly, this is the reason for most office relocations. In the UK, the average lease term is 6 years. Many companies find that after 5-8 years, their needs have changed to the point that they need to move offices.
Even if you are planning to renew the lease on your current space, this is a great opportunity to assess how your company’s office needs have changed since your last relocation. It is worth considering researching the market to see if a new space would better suit your current and future needs.
Overcrowding
Many issues with your workspace can be resolved by refurbishment. We generally recommend refurbishment, because it's more cost-effective and less disruptive. Overcrowding is one issue that can’t be fixed by relocation. Over the last few years, your company headcount may have increased significantly, or certain areas of your space may have become overcrowded.
Simply running out of desks isn’t the only sign you have outgrown your workspace. How crowded are your collaboration and breakout areas at different times of the day? How much has your staff count grown since you signed your last lease? Did you plan that level of growth into your office design then? If not, you have likely outgrown your workspace, and the productivity of your staff will decrease as a result.
Location
In the last 3 years, the location requirements for many companies have completely changed. No longer is a central London office the default location. The location of your office needs to be as convenient as possible for all your staff, clients, and visitors. Many companies prefer to have offices in a location popular with their industry – e.g., design companies in Clerkenwell. When choosing the location of your new office, consider the reputation of that area, and what it says about your company.
Another crucial part of the location is the ease of access. Convenient public transport or nearby free parking will make it far easier for your people to get to work. The commute is one of the key reasons many staff want to work from home, so making it as hassle-free as possible is important in encouraging your staff back to the office.
Rising Costs
One reason for moving offices that companies often forget about is operational costs. These typically amount to around 25% of annual rent. An office relocation is an opportunity to reassess all these costs and how to reduce them going forward. Moving to a more energy efficient and modern office could be an excellent investment.
Modern buildings tend to be much more efficient to run than older buildings, even those built in the last 20 years. Modern HVAC systems are up to 50% more efficient than systems from 10 or more years ago. This can create a 20% saving in your total office energy costs.
Planning Your Office Relocation
Moving office is a big project, so it's understandable if you're wary. However, if there are issues with your space, it's important they are resolved (via either relocation or refurbishment) to prevent the issues from getting worse and damaging the performance of your company.
If you recognise any of the issues we covered in your own office, then you should seriously consider an office relocation. If you didn’t notice any of these issues but know your office still has problems, check out 8 Signs You Need To Refurbish Your Office. If you're not sure which you need, read Office Relocation vs Office Refurbishment: Which is Right for Me?
Deciding that you need to move office is the first step in a long, slightly daunting, and exciting journey. To take the next step, download the ultimate guide to office relocation. It's one guide that will help you understand everything that goes into an office relocation, what it costs, and how long it will take. We've also included a checklist to make sure you don’t miss any important steps. Download your Ultimate Office Relocation Guide here.
