Are you ready to move office?
Thinking of moving office? Make sure you're ready! This guide tells you all there is to know about preparing your business for an office move.
Is your existing office bursting to the seams? Want to reduce overheads? Or simply need a fresh start? An office move may well be just what you need to get you into better, cheaper & more efficient office space.
The lifecycle of businesses often require them to move office for a variety of reasons; be it adapting to changing market conditions, new opportunities, or to reflect the current economic climate. Research has shown that on average, companies move office every 7 years so whether your company is planning an office move, or considering a relocation in the near future, here are a few indicators to ensure that you are in a position to move office (from a legal, commercial and operational perspective) and what initial preparations you can do to kick-start the office move project.
Are you in a (legal) position to move?
It is vital that you EXIT your current office property in accordance with the terms of your lease. Failure to do so correctly might result in punitive financial penalties.
- When does your current lease expire?
- Is there a “break clause”?
- What notice period do you have to give?
- How do you need to serve notice?
Before you do anything else, ask a Property Solicitor to look over the Office Lease to see how and when notice can be correctly served.
Key Dates
There will be certain key dates that will drive your office move. Make sure you know them—and stay on top of them. These include:
- End date of current lease
- Date by which termination needs to be given
- Target date to be in new office
Current Office Market Conditions
Another consideration is current office market conditions and the average rental values in the area you are looking to move to. Talk to a local Property Consultant who will give you a good indication of average rental values in your area. Access to this information via a Property Consultant will cut down on any wasted time looking at unsuitable offices and increase the chance of your company making the right office space decision.
Can you afford to move office?
Moving office will be a big financial outlay for your business, so you need to be aware of what costs might be incurred during an office relocation project. We’ve put together an extensive list of moving office costs and also prepared a Moving Office Budget Template to help you record and manage your costs once your project gets underway.
If you feel you are now ready to move office, it’s time to start the pre-planning with our full suite of Moving Office Checklists that are free and available now to download.
