Increased demand for London office space in 2016 has driven rental costs higher than ever leaving tenants frustrated and wanting to save costs wherever they can.
Here, we have listed 5 ways you can reduce your costs this year:
1. Renegotiating the best rental rates from your landlord
The costs of London office space are showing small signs of recovery, meaning there is a window of opportunity for businesses to revaluate their office property strategies by securing a better deal before prices rise again. Looking for alternative spaces can strengthen your negotiating position, and if all fails you will have a cheaper option if you want to save on your office rental costs.
2. Refurbish your current office space
Sometimes a relocation can be costly, so refurbishing your current office space can be the next best choice. It will allow you to re-energise your employees and transform your office. With clever space planning you can free up valuable office space and maximise employee efficiency and productivity. By refurbishing you can also save on the cost and disruption of relocation costs.
3. Leasing an office fit out
Over the recent years, people have shifted away from owning properties and towards renting making leasing a fit out the more popular choice for businesses. Leasing an office fit out is a great option that means the cost can be spread out on a fixed budget which can help your business’s outgoings. This benefits cash flow and credit scoring and is more tax allowable – allowing you to offset payments against the profit. It also allows you to think outside the box by taking on a more expensive interior and fit out.
4. Re-optimise your current office space
Space planning can re-optimise you current office space. This can be an effective short term solution allowing more employees to work together in a smaller office. It can also create a more efficient office structure to allow greater productivity. An evaluation of your current space can also help you save costs by identifying the use of unnecessary technology, unused spaces and inefficient systems.
5. Go green and reduce office waste
If you are planning on staying put and don’t have the budget to relocate and redesign, then little changes can make all the difference. Becoming environmentally friendly can be very beneficial for your office, especially from a financial point of view. You can save on energy and reduce office waste by turning off lights, going paperless and using natural sunlight.
If you want to know more about reducing your office costs in 2017, get in touch with our team. Email us at email@example.com or call 020 7553 9500
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