When searching for new office space you may decide the best option is to work with a blank space and construct a new fit out bespoke to your own requirements, rather than lease a space that is already fitted out which may come with certain compromises.
Many Landlords will offer to deliver a fit out on your behalf using their preferred fit out contractors (increasingly common), or alternately you may wish to engage your own fit out contractors and control the process yourselves. In each scenario you will generally fund the fit out through an incentive pool provided by the Landlord.
Fit out costs can vary enormously in cost depending upon the different finishes available. It would be fair to say that many standard office fit outs are currently being delivered at around $850m² – $950m² in Secondary buildings (B and B+ Grade). The costs will generally be higher in Prime buildings (A and Premium Grade).
A standard office fit out will often meet the needs of most businesses but there are many fixtures and finishes that generally don’t come as ‘standard’ and will come at an additional cost. These items are as follows:
Power and data points:
Generally funded by the Tenant at a cost of between $50m² – $60m² depending upon the final scope.
Additional Storage Cupboards
Joinery is an expensive item. A standard fit out will typically include some built-in storage cabinets within the utility area with standalone tambour units installed for additional storage space. If you require additional cabinetry, it’s important to check what additional costs this may incur.
There are various standard and premium filtration systems that can vary enormously in costs. Billi taps are often a popular addition within offices spaces.
There are various acoustic treatments that can be used within offices such as acoustic wall panels, flooring, plants, partitions etc. Noise insulation is the most effective and can be installed between the ceiling grid and the slab. It generally comes at a greater cost than other noise reduction treatments.
The Landlord will generally supply a standard base building carpet for your tenancy. Should you wish to have feature carpets installed within some areas, such as the front of house meeting rooms etc, this may come with additional costs.
Access Control System
This is to allow swipe access (versus a key). A lot of building owners will pay for a simple access control system but not all, so it is important to check. Alternatively, you may need to “up-spec” the system should you have specific security requirements.
Frosting on Glass Panels
The tenancy will come with a frosted strip on all the glass panels in order to meet Australian Standards. For privacy and decorative purposes most tenants will want to increase the level of frosting.
Should you wish to have a sign with you company name/logo installed within your tenancy this will generally come at an additional cost.
Hinged Doors v Sliding Doors
Simply by virtue of them being more common, hinged doors are cheaper. They are easier to install and easier to maintain. Sliding doors are generally a little sleeker and more aesthetically pleasing and you’d expect to pay more should you wish to include them with your scope.
Whiteboards / Whiteboard paint
A standard whiteboard may be included in a standard fit out but, a digital whiteboard would cost more. Whiteboard paint would be at the discretion of the fit out contractor. Some may include it within a standard scope and others may not.
The items listed above are not all-encompassing. There is an enormous array of finishes to choose from and different fit out contractors will “massage” the budget in different ways. It is important that you are presented with a full “Scope of Works” prior to signing your lease to ensure you have full visibility as to exactly what the fit out will include.