The project budget

A relocation project can be one of the most expensive events in the life of a business. Moving forward without a clear idea of budgets is like sailing without a compass. All reputable suppliers will provide full cost estimates, free of charge. This will enable you to communicate with the rest of your business the real financial impact of your move.

  • Get quotes for everything and draw up a full budget for the whole project, including:

    • Occupancy costs (such as rent, service charges, taxes, energy, maintenance, etc.)
    • Transaction fees (for property agents, lawyers)
    • Insurance costs
    • Fire plan assessment
    • Planning permission fees
    • Design and fit out costs
    • Environmental assessments
    • IT - cabling, and IT equipment relocation fees
    • Furniture - the cost of new furniture, delivery and installation
    • Disposal costs (of old furniture, computers, rubbish)
    • Extra security (during the move)
    • Printing costs
    • Telecoms - equipment and installation
    • Marketing costs - new stationery, announcements, invitations, website update of new address, plus mail redirection
    • Contingency (it is not uncommon to budget an extra 20% for contingencies and changes)
    • Dilapidation costs for your old space (many leases require you to put your old space back to its original condition)
    • Dilapidation costs for your new space
    • Air conditioning, heating and ventilation (check the condition of the HVAC plant in your new building)
    • Energy performance (not only do you have to budget for electricity and gas, but you also now have to consider 'green' regulations for your new space)
    • Temporary storage during the move

Tax considerations

You're spending enough money for there to be plenty of opportunities for tax breaks.

  • Talk to an expert

    • Find out how to make the most of your Capital Allowances
    • Look into leasing options for the design and fit out works
    • Ask about Enhanced Capital Allowances for sustainable or 'green' equipment / products
    • Look into interest free loans (if you are an SME) from The Carbon Trust

Commercial property agents

Make sure you're talking to the best people in the business.

    • Quality references
    • A good grasp of the technical side
    • Enough time to devote to your project
    • Good knowledge of the area you're searching in
    • National reach
    • Transparent fees and charges