How much does it cost to move an office in London? This is the question that comes to mind if you’re thinking of relocating your office space. You need to plan carefully, and most importantly, you should ensure that you have an accurate budget for your office relocation to avoid it costing you a lot. Moving office can be quite hectic especially if it’s a large organisation. Not to mention the fact that you need to ensure minimum downtime for your business.
There are several expenses and costs that you need to consider when coming up with an accurate budget that we shall look at. It’s even less complicated when you work with a qualified moving company because then you’ll know the costs that you need to factor into your budget.
How much does an office move cost
Office relocation costs in London vary depending on several factors like the size of your organisation, the planning done, and the movers you choose to work with among other things. For a more accurate estimation of your move, here are some of the expenses you’re likely to incur throughout the entire process.
- Office restoration costs
- Fit-out and refurbishment cost
- Office removals company cost
- Premises survey cost
- Cost of hiring a solicitor
- Schedule of conditions cost
Office restoration costs
Before moving to new office space, you need to ensure that you leave the premises as you found it when you first moved in. This means the damage you need to repair will determine the restoration costs you incur. The more the dilapidations/damages, the more you’ll incur. This will cost you anywhere from £20 per square foot.
Fit-out and refurbishment cost
Once you move to your new office space, you need to ensure that any fit-out and refurbishment costs are catered to. The new office might need to be refurbished to fit your business needs. You also need to ensure that you have the ideal fit out if you want to maximise the available space. It will cost you approximately £15 and £65 per square foot.
Hiring an office removal company
Hiring a qualified and reliable removal company is one way to ensure smooth office moves in London. On average, hiring a moving company in London will cost you anywhere between £3,500 – £7,000 for 3000 sq ft+ and around £6,100 – £23,000 for 10,000sq ft+. The size of your office will play a very essential role in determining how much it will cost you.
Premises survey cost
Premises survey cost ranges between £750 to £5,000. The overall cost will vary depending on the condition and size of the premises being surveyed.
Cost of hiring a solicitor
You can pay between £2,000 to £8,000 to hire a solicitor. This cost will vary depending on the office size and lease term structure. Each party, the tenant and landlord, carter to their legal fees. However, they need to agree between them on who gets to pay the solicitor.
Schedule of conditions cost
A schedule of conditions is basically a document that highlights the condition of your new office. You and the landlord agree if the conditions are fit. Overall, a schedule of conditions will cost anywhere between £1,000 to £2,000.
The table below shows some of the expenses you’re likely to incur and their various costs:
|Hiring a removals company(3000sq. ft+)||£ 3,500 – £ 7,000|
|Fit-out cost per sq. ft.||£ 30 – £ 180|
|Property survey||£750 – £ 5,000|
|Property expenses||£ 3,500 – £ 13,500|
|Office alterations||£ 750 – £ 3,000|
|Service charge increase||5% – 10%|
|Business rates|| £ 0.466p – £ 0.479p x Rateable |
Extra costs during an office move
Apart from the costs highlighted above, the other extra office moving costs that you might incur as part of the office relocation services in London include the following:
- Extra insurance
- IT infrastructure relocation cost
- Storage costs
- Packaging costs
- Waste disposal costs
You should also note that some relocation companies have some of these services as part of their whole package hence you won’t have to pay for them separately. Before agreeing on a quote, it’s advisable to understand all the costs covered so that you can easily establish the extra costs you’ll have to cater to.
How to make an office move budget
Coming up with an accurate office relocation budget has to be one of the most tricky things. There are several essential factors that you need to consider. Grouping your expenses into categories is one way to ease the whole process. When listing the various moving office costs you’re likely to incur, it’s advisable to do it based on the relevance of each.
When it comes to your miscellaneous spending, you should expect approximately a 10%-15% increase in the approximated budget. If it’s a large office space, it’s ideal to divide the costs into each room, office, or department. This will help in ensuring nothing is left out.
How long does an office move take
The timeline for your office relocation will depend on the size of your business. You also need to consider how long it will take to pack for moving. From the planning phase to the day of the final move, a relocation can take between 4 to 8 months. If it’s a large organisation, then this will take you around 6 to 8 months for complete office relocation. You should also ensure that you choose a timeline when your business is less busy.
Factors affecting the cost of an office move
There are several factors affecting an office move with the size of your office being among the most significant ones. The bigger the organisation, the more costly it will be compared to a smaller office setting.
The type of business you have will also determine the overall office moving cost. If you need large equipment or machinery to be moved, you will pay more compared to a small office with fewer office furniture that needs to be moved.
Other things like the need for extra insurance or special equipment will also impact the price you pay. Not forgetting that in some instances, you may need extra storage space before the relocation is finalised. There are different types of storage units to choose from depending on the stuff you want to be stored.
This means you’ll incur some extra charges. Of course, this will depend also on the office removal company you hire considering some of them can have this as part of the service package.
From the above, you get a clear idea of some of the costs you’re supposed to factor in when planning an office move. But even more essential is being able to choose the ideal office removals company to work with for a seamless relocation process. They will also come in handy in helping you come up with an accurate budget estimate.