According to the Business Day, for many companies, the rental and operation costs are important factors that have to be considered when relocating to a different office space. However, it also indicated that one other important factor is an interior fit out cost for an office space.
The costs driving a fit out
In principle, the fit out costs are driven by five primary factors which include: the base building’s condition, the needed space and facility types, the time a space is needed for occupation, the client’s budget, and the client’s business objectives.
Because projects differ greatly, it is difficult to get a concrete idea of how much is expected to be paid for a fit out. Some fit outs may be entirely cosmetic, while others may involve extensive fit out works, including a comprehensive analysis of a use of a workspace environment for a company’s future growth.
Deciding on a fit out
As stated by the Business Day, in the initial phase, a client needs to decide on a low, medium or high specific fit out and its suitability for an office environment, basing from corporate and branding objectives.
A low specification fit out emphasizes on having the most in a current space. This usually costs $300 to $600 every square metre.
A medium specification fit out improves on product specifications, having bigger emphasis on the client-facing areas and fit out works. This usually costs $600 to $900 every square metre.
For a high specification fit out, construction experts and interior designers are required to do high product specifications and other facilities like gym, canteen and so on. This usually starts from $900 every square metre.
In terms of cost saving, the initial step is getting the right project manager who is going to drive the whole process starting from conception to completion. A highly experienced project manager is going to interpret a client’s brief, can drive a design and construction to a specific client’s budget and vision with smooth execution.
It is very important for companies to really consider the costs of commercial office fit outs before starting one.