Office refurbishments are having a moment. They’re outpacing new builds in the UK, with Deloitte’s 2024 London Office Crane Survey showing refurbishment activity hitting record highs.
This isn’t just a passing trend; it’s a response to changing workplace priorities, environmental regulations getting tighter and financial pressures.
If your business is considering a refurbishment, here’s everything you need to know to make your project a success.
Why Are Office Refurbishments on the Rise?
1. Sustainability
With the UK government’s Minimum Energy Efficiency Standards – or MEES for short – the energy performance of commercial properties has to meet increasingly high bars.
Buildings with an EPC rating below ‘E’ are already unlettable and it is expected to get tighter by 2030. Refurbishments are often the fastest, way to meet these standards without buying a whole new property.
2. Cost
While new builds can be expensive, refurbishments generally can be a little more controllable.
This makes them an attractive option, especially when paired with shorter project timelines.
3. Demand for Modern Workspaces
The expectations of the post-pandemic workplace have changed.
Today, businesses are looking for flexibility in layouts, new amenities and sustainable credentials from their office spaces. Refurbished offices meeting these demands are achieving better rental yields and longer tenancies – so they are a smart investment!
How To Plan A Successful Office Refurbishment
Look At What The Job Ahead Entails
Not all refurbishments are created equal. Projects will usually fall into one of three categories:
Minor refurbishments: Cosmetic upgrades that include painting and adding some new elements to the space.
Major refurbishments: Those involving structural changes, like extensions or major changes in the building systems.
Comprehensive refurbishments: These are big projects, which often take on sustainability certifications and state-of-the-art efficiency.
Understanding the scale of your refurbishment will then help you establish realistic budgets and timelines.
Meet the Building Regulations
Most refurbishments need building regulations approval. Everything from adding partitions to changing fire escape routes needs to be done correctly first time to avoid costly delays.
Contact Building Control early to make the approval process easier.
Budget for the Unexpected
No matter how well you plan, refurbishments have a habit of springing surprises on you.
Hidden structural problems and old infrastructure can quickly send timetables and budgets awry. Allow for this with a contingency fund of 10-20% of your budget.
Remember to also cost for things like import duties or even professional office moving companies to help you shift furniture in and out of the space.
Energy Efficiency: Make It a Priority
Energy-efficient upgrades aren’t just good for the environment-they’re good for business.
A modern HVAC system, improved insulation and smart lighting are all great investments that reduce long-term costs and make your office more appealing to eco-conscious tenants.
Benefits of Office Refurbishments
If you are still unsure whether to refurbish an existing office or buy a new one, here are some advantages:
Faster Completion
Refurbishments often have fewer planning obstacles compared to new builds, so the completion is normally faster.
Higher Appeal to Tenants
The spaces can be designed to meet the needs of businesses today; meaning they are more likely to have higher rental and occupancy rates.
Design Flexibility
Refurbishments can help you be creative, without limits.
Challenges To Keep in Mind
While refurbishments have clear advantages, they’re not without challenges. Some of these include:
Unforeseen Costs: Older buildings often provide unforeseen problems that drive up costs.
Regulatory Complexity: Sustainability certifications and compliance standards can be confusing without professional experts.
Labour Shortages: The UK construction sector continues to face difficult conditions, with ongoing labour shortages potentially delaying projects and inflating costs.
These risks can be managed by working with experienced professionals and realistic expectations.
Is Refurbishment Always the Answer?
Refurbishments are the best solution for many buildings, but not necessarily the greatest for every building.
Properties in older age brackets that need severe improvements structurally or those with wide compliance gaps will likely need a full rebuild.
At the same time, if the building is well-constructed, refurbishing can unlock its potential and deliver modern functionality without starting all over from scratch.
The Power Of The Build
If your business is considering a refurbishment, start by working out your goals, consulting with experts, and lining up your plans with current regulations.
When done right, a refurbishment can change your office into a space that’s not only fit for purpose but ready for the future.
Ready to reimagine your workspace? Now’s the time to make the move. The results could be revolutionary-for your office, your business, and the planet.
