Should I relocate or refurbish my current office?

12 May Should I relocate or refurbish my current office?

Relocating to a new office space or refurbishing your current one is a decision that many businesses will face at some point. It is an important decision that can have a significant impact on your company’s productivity, employee morale and finances. 

In this article, we explore the benefits and drawbacks of both to help you when you have to make such a significant decision.

What are the benefits of relocating to a new office space?

Improved Facilities

New office buildings are built with the latest architectural design practices in mind. For example, natural lighting is encouraged where possible in most modern office buildings, which can enhance your team’s productivity and create a more professional image for your business.

Increased Space

There are some aspects of an office space that refurbishment cannot remedy. If your current office lacks the space that you need for your business to grow, moving to a larger space can help you expand your operations.

Location

Moving to a new office space may also provide the opportunity to relocate to a more desirable location, which can improve accessibility for clients and employees. If your business requires clients to come into the office often, moving to a new location with good transport links may benefit your company in the long run. 

Reduced Cost

In some cases, moving to a new office space may actually save you money long-term. For example, if your current lease is expiring and your landlord is increasing the rent, moving to a new space with a more favourable lease agreement could help you reduce costs. Moving to a modern office space built to the latest energy and heating efficiency standards can also help keep costs down. 

The drawbacks of relocating your office

It isn’t only good news when moving to a new office space however; there are some noticeable set-backs to moving that you should consider before deciding to move.

Disruption to staff workflow

Moving to a new office space can be disruptive to your business operations, and may require significant downtime to move all of your equipment and furnishings. This is critical to consider if your business operates on a tight-schedule or is required to respond quickly to events. 

Cost

Moving to a new office space can be expensive, and the costs can quickly add up if you need to pay for movers, new furniture, and other expenses associated with relocating.

Staff Morale

Moving to a new office space can be stressful for your employees, and some may feel unsettled or unhappy about the change. As well as this, if you are moving a considerable distance from your original location, it may prove difficult for some employees to reach the new office space. This may lead to a loss of some employees. Before moving, be sure to consider commuting times or the possibility of hybrid working for all staff members. 

Refurbishing Your Current Office Space

An attractive alternative to moving to a new office space is refurbishing your existing one. Refurbishing an office can be as all-encompassing as you need it to be. Whether you need a complete rework of all of the available working spaces, or a simple update of the office furniture and equipment, a refurbished office can be a more intuitive solution to your office issues. 

The benefits of refurbishing your office.

Cost-effective

Refurbishing your current office space can be a more cost-effective option than relocating to a new space, especially if you only need to make minor renovations.

Familiarity

Not having to relocate to a new office space will spare your staff from the stresses and shock of moving. When planned properly, disruption to your team can be kept to a minimum whilst the refurbishment takes place, dramatically helping company morale. 

Customisable

Refurbishing your current office space gives you the freedom to design your perfect office space from the ground up. You know how your team works better than anyone else. Designing a bespoke office space for your employees will go a long way in boosting morale and productivity. 

The limitations of office refurbishment

There are some limits to how far office refurbishment can take your existing space. There are some instances where refurbishing your current office space would not be suitable. 

Space limitations 

Refurbishing your current office may not be possible if you need additional space to grow your business and your team. 

Dated Facilities

If your current office space has outdated facilities, such as old wiring or an inefficient HVAC system, it may be more cost-effective to move to a new space with modern facilities. This way you can enjoy the benefits of modern building techniques that are more energy efficient. 

Disruption

Whilst disruption is kept to a minimum during office refurbishment, especially in comparison to moving to an entirely new building, a disruption-free project is impractical to do. Your team, at some point or another during the renovation, will be disrupted from their workflow. 

The bottom line. 

Deciding whether to relocate to a new office space or refurbish your current one requires careful consideration of your specific needs and circumstances. While a new office space may provide more modern facilities, increased space, and a better location, it can also be expensive and disruptive to your business operations. 

Refurbishing your current office space can be a more cost-effective option, but may not be possible if you need additional space or if your current facilities are outdated. Ultimately, the decision will depend on your business goals, budget, and the needs of your employees. 

If you would like to explore the options available to you and would like expert advice from industry experts, get in touch with our team on: 08000 614072. Alternatively, you can contact us by filling out our contact form. 

Optrys has served companies like yours for three decades; with our help, you can find the right solution to future-proof your office.