Discussing the Pros and Cons of New Office Space in Singapore
Most businesses are seeing renewed expansion. Paradoxically, for certain firms, expansion can be a bit of a double-edged sword. It and can raise a challenge in terms of whether to make the best of their present workspace or shift their office to something that fits their ever-growing needs better.
We will take you through the pros and cons of both the options in this guide and draw on the perspective of our decades in the industry to have some advice on the situations when leaving makes the most sense and where it’s best to stay put. Here are the pros and cons of new office space.
Expenditure vs Efficacy
Obviously, leaving your office space means parting with some money. However, there comes a point where moving can actually be more cost-effective, especially if you prepare for the long term. Of course, you may have been able to cross several holes so far by sheer ingenuity. Still, you have to decide whether in the long term this approach would be both successful and financially viable.
Sometimes, just evaluating the requirements will prove helpful in terms of recognizing shortcomings, mounting problems or inefficiencies in your current room. This might totally eliminate the need for a transfer, making refurbishment the chosen alternative.
How is Your Current or New Office Design?
For some years, you might have been putting up with an office that is less than aesthetically appealing. Some may even be compelled to stay in a 70s-style brutalist box office. And though moving will give you more of a blank slate to begin on, you should not underestimate the wonders of a proper office reinstatement. Using the room correctly will open up excess space that you can use to find a growing staff and new facilities. Some have even been able to sub-let to provide a source of increased revenue.
However, all routes clearly require an expense, and within the target budget, you can have to tailor your standards of what is feasible. Not all, after all, can get breakout suites in Google-style replete with music studios. Similarly, in both situations, the limitations of your current room or the one you are looking to move into could temper your plans. You can have run into unforeseen difficulties that may hamper or make the plans economically unviable. In any case, before you start making grand plans, it’s important to get a contractor early on.
Where Do You Want and Need to be Located?
For staff recruiting and retention, as well as the picture and general day-to-day operation of a company, transport links and access to facilities and amenities can be critical. But with a hefty price tag, a coveted postcode appears to come.
Any organizations clearly have to be where the action is, while there might be room for balance in others. There is no magic bullet for the trade-off between position and price. Before making a decision, you would need to carefully weigh the benefits, disadvantages, and possible threats. The condition of the market often comes into play and it is not assured that new premises are open.
Having a Fully Furnished Office Up and Ready
It would relieve a lot of tension for you and your staff to select an office that is already completely furnished. After all, it is one less thing that you need to think about investing in the business and planning to startup.
Some offices are not furnished, and your current one may already be. Make sure that all of the office furniture available is in decent shape and completely usable until the move. If you need to replace something, make sure it’s taken care of until the day you pass.
Pros and Cons of New Office Space: Lease Agreement and Flexibility
A full-blown transfer would entail the payment of migration fees, but they will also be covered by the next landlord’s leasing benefits. Similarly, when negotiating a more favourable or adjustable lease deal for the new property, these payments can be mitigated. The prospect of renegotiating your new contract is also worth investigating. It is important to see whether you can make any changes to the lease terms. Trying to bargain downwards in terms of current business dynamics or also changing the time between rent checks is essential.
Planning the move is truly the primary message here. If it wasn’t before, it should now be evident that there are multiple components involved with the relocation of an office. It is a smart idea to carry out the change as an official undertaking. Having a project manager in will help make the transfer run more smoothly, as we described above. Realistic plans and budgets are important. It is important to handle them.
To help you move, you’ll also need to connect with an office relocation service provider. The earlier it is practicable to reach them, the better. Specialized company movers will assist you with some preparation and probably with the logistics. They will even give you useful advice or provide feedback about items you may want to remember.