5 Ways Commercial Property Space Planning Can Save You Money
Whether you are planning on expanding or downscaling your business, commercial property space planning is a significant cost factor. In fact, many executives and business owners are often left surprised when the true costs of fitting out a commercial property or office space are put into perspective. Here are five ways how professional space planning can save you money:
1. Clarify the landlord’s tenant installation allowance with your broker
Clients often have unrealistic expectations about the true value of the landlord’s Tenant Installation (or TI) allowance, which is a contribution to fitting out a new office space. If this is the case, a deal can fall flat at the space planning stage when a detailed cost and site analysis is performed that is not in line with the expectations of the client. Get your broker and space planner involved from the get-go to ensure you have a realistic expectation and budget in your search for new commercial property opportunities.
2. Negotiate with the landlord on returning your space to “white box”
Landlords often include a clause in a lease agreement by default, requesting the premises be returned to its original or “white box” state at the end of a lease period. This is often a costly (and sometimes wasteful) exercise to rip out plush fittings such as wooden floors or partitioning that could potentially be of interest to the next tenant. Have your broker investigate with the landlord if there’s a possibility of accommodating the next tenant with your current fits and finishes.
3. Re-use materials and fittings from your old office space
Being innovative with what you have can result in significant cost savings and a reduced carbon footprint of your relocation. Have your space planner investigate what elements of your current commercial property can be re-used and incorporated into your new space plan. If your company is serious about sustainability, this is an important factor to keep in mind.
4. Ditch the reception area
An increasing trend is that companies no longer have the need for a dedicated employee at the main entrance of the office. This is especially true for companies who do not have regular face-to-face contact with their clients such as an e-commerce company or advertising agency. However, that does not mean that you should not invest in an entrance that creates a lasting first impression which signals your brand’s quality and credibility. Consider making your first contact point an inviting lounge area that can potentially save you a lot of “wasted space”.[clickToTweet tweet=”Companies no longer have the need for a dedicated employee at the main entrance of the office” quote=”An increasing trend is that companies no longer have the need for a dedicated employee at the main entrance of the office”]
5. Involve your broker and space planner from the start to save valuable time and money
Clients often underestimate the true time and costs involved in searching for new commercial property opportunities. Consider not only the time involved in planning and designing your next corporate interior, but also the project management aspects of actually creating your new office and facilitating your relocation. Rather not waste time by delegating this important function to an internal team, and get the professionals involved sooner rather than later.
This article was created in association with Peg Design, a leading interior and corporate space planning firm in Cape Town – http://www.baker-street.co.za/street-smart-deals