A proper budget can save a lot of stress down the road. Nobody wants to go over budget when moving offices, so have a clear idea of all costs involved beforehand to avoid surprises later on.

  • Deposit

    You'll need to budget for the deposit of your new space which should be refundable at the end of the lease (minus any reasonable costs for damages).

  • Energy

    The energy efficiency of the building can either increase or decrease your energy bills, so make sure you budget accordingly for this.

  • Fit out costs

    Depending on the scope of works, fit out costs can vary greatly. According to the Chartered Institute of Building, going with design and build (one-stop-shop) for your fit out can save you 15% (as well as being 40% quicker than hiring multiple contractors).

  • Furniture

    Will you be moving old furniture or buying new? Undertake a furniture audit to identify your needs before moving. Make sure your furniture fits in the space before moving in; you don't want to get to moving day and realise your large boardroom table won't fit in the room!

  • Insurance

    Insurance. Nobody likes paying it, but it's a must if you want to protect your company from all kinds of possible problems. Your solicitor should be able to tell you what insurance is mandatory and what is optional.

  • IT

    Moving existing IT systems, equipment and cabling can add a significant amount to your final budget, so make sure you have an idea of how much this will cost to avoid going over budget.

  • Legal

    You'll need legal representation to help you get through the mountain of paperwork that comes with finding a new office space, not to mention ensuring you're complying with all related laws.

    Many landlords will make it a term of the lease that the tenant should pay the landlord's legal costs. To avoid this, make it clear from the beginning that any offer on the property or space is subject to your company not paying legal costs incurred by the landlord.

  • Personnel

    Many businesses overlook personnel costs when moving offices, but they can often add a large amount to your final cost. Will you need to offer staff travel allowances?

  • Removal costs

    Moving offices is an ideal time to dispose of old furniture, computers, paperwork and rubbish. It doesn't just cost to buy new office items, but to dispose of them as well so you'll need to budget for removals.

  • Temporary storage

    Will you need to temporarily store any furniture or large amounts of filing? Make sure you get a quote and plan for this in your budget.

  • Stationery

    Moving to a new office can be an ideal time to consider rebranding. If this isn't an option, consider your stationery that will need to be updated. Letter headed paper, business cards, email signatures, documents, website, internal communications, outgoing invoices and any other branded merchandise will all need to be updated with your new address details.

  • Business rates

    Before committing to a new property find out what your business rates are likely to be. Consider getting professional advice to check if these can be negotiated.

  • Agent fees

    Make sure you budget for agent fees, these are likely to be approximately 10% of your first year's rent (excluding rent free periods), and will cover the costs of searching for properties and negotiating with the landlord.