When it comes to the end of your Sydney commercial lease, you might be facing a dilemma. Perhaps you’re not entirely sure whether it’s better for you and your organisation to move onto a new office space… or renew your existing lease. This is a common issue that plenty of businesses face, and before you make a decision, there are quite a few things to take into consideration.
Firstly, what are the benefits of relocating?
Shifting your organisation to a new office space can come with plenty of benefits, and we know this better than most, thanks to years of experience in the industry.
You can save money
Finding the right space for your company can mean paying less rent. You won’t know whether there is a better deal unless you explore the market, and the best way to do this is to hire an expert commercial tenant advisor. If you’re able to get a better deal in terms of how much rent you pay each month or each year, that’s a big win for your business.
You can save on space
It’s possible that your current office is just too big, particularly after the increase in remote working that has occurred over the past two years. Getting the right amount of space might mean reducing your footprint, equating to further savings and a more suitable space. Utilising flexible working types like activity-based working can really help achieve these aims. That might also come with a boost to productivity and efficiency.
Finding a new office
If you decide that it’s not in your best interests to renew your existing lease, you’ll have to find a new office space in Sydney.
This can be tough, and time-consuming
Finding the right space for your business can take time, and it’s not a process that you want to rush. If you do rush your search, you might find yourself in an office that isn’t well suited to your organisation or your people. Too many businesses get caught out, because they don’t allow themselves enough time to find another workspace that suits them. What’s more, they don’t engage the help of a Sydney tenant advisor.
This is why it’s really important to be fully aware of what’s required when finding a new office space, before you simply decide to vacate your current office. Understanding the process will help ensure you are prepared, or tell you that it’s simply not worth it at this point in time, and that you can still remain in your current workspace. In fact, the latter might be a much better option.
A new office might cost you more
New office space will inevitably see your business out of pocket. There will be a range of fees to pay, including first months or years’ rent, security deposits, fit-out costs and more. Moving into a new office space is an expensive process, and too many businesses underestimate these costs… much to their detriment. On top of that, you might end up paying more rent per month… just because you didn’t do your research.
Office relocation
If you are set on moving into a new office, relocation will be the next step. It’s an involved process and will require the help of an expert Sydney office relocation company.
It can be disruptive
Office relocation can be disruptive, especially if you try to organise it yourself or hire a company that doesn’t have the right experience or expertise. Unforeseen delays will have an impact on your business and your people may well be thrown out of sync. In fact, it often takes employees a good couple of weeks after moving office, before they return to regular levels of productivity.
Relocating might be expensive
Relocating your business can be really expensive, particularly if you fail to hire an expert office relocation company. Inefficient relocation practices cost businesses all over Sydney so much money every year. Luckily, we offer affordable, swift and safe Sydney office relocation for businesses of all sizes.
Fit-out
Fitting out a new space will cost you money… and if you’re relocating to a larger office space, the costs will be substantial. This is something that you must consider before deciding whether to move office, or renew your existing lease. Working with a professional Sydney office fit-out company can help keep costs reasonable, but a considerable investment will still be required, along with the time it takes to complete an office design and fit-out project.
Makegood
The makegood clause in your lease will probably stipulate that you need to strip-out your old office and return it to its original condition. This is yet another costly process, both financially and in terms of time spent. Working with a professional makegood company can greatly reduce costs, but this is yet another financial hit that your business may well take when departing your old office space.
One point of contact makes life easier
If you do decide to move offices, working with one company that offers new Sydney office lease services, makegood negotiations and office relocations, you’ll be saving yourself plenty of time and money in the long-term. This is exactly how we’ve helped countless clients across Sydney, with office relocation, makegoods, and expert fit-outs.
At Niche, we offer a range of services including office design, office fit-outs, office relocation, office lease negotiation, and so much more. Between Niche Projects, Niche Advisory, and Makegoods, we’ve got you covered.
Working with a single team that has knowledge and experience in every aspect of the process will make life so much easier for you and your organisation. We can save you money, time and stress, and you won’t have to shop around to find different contractors for each process. That’s a big win for you, your people, and your company.
But what if you don’t move office?
If you’ve taken the time to consider all of the effort and costs that will be incurred when you move workplace, you may have decided that it’s simply not worth relocating your business to a new office in Sydney. And that may well be a very wise business decision. But in that case, you’ll need to work on negotiating your Sydney office lease.
At Niche, we’ve got the expertise and the experience to deliver excellent results for businesses big and small. We’ll use our market knowledge to negotiate hard on your behalf, to get you the most favourable terms possible on your renewed Sydney office lease. That will ultimately mean a financial saving, and less stress along the way.
To summarise
Moving office can be disruptive and expensive. If you’re considering relocating your Sydney business, keep these things in mind:
- You need an expert office relocation team
- Office junk removal may be required
- Fit-out work may be required in your new office.
- You may be out of pocket for a makegood/strip-out.
Crunch the numbers and do a cost-benefit analysis on whether or not it’s really worth it. And keep in mind that there are companies who offer all of these services, in one. That can make shifting your business so much easier.
If you’re looking for expert advice on whether or not to relocate your office, get in touch with us today. We can’t wait to help.