The Cost of an Office Fit Out Outside of London

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It’s no secret that London prices represent some of the highest in the world. Part of the attraction with London is its fast-paced, eclectic society with an abundance of opportunity for growth both personally and professionally. When it comes to your office, the prices that count are the rent, general upkeep and all-important fit out.

There is cause to question however, why there is an increasing number of businesses who are trying their luck and moving out to cities which can offer both commercial and cultural advantages.

Office fit out costs outside of London

Cost per sq ft (Typical)	Low	Mid	High
Manchester Nottingham Derby Birmingham Sheffield Bristol Leicester Cambridge Leeds Liverpool Gloucester Oxford Portsmouth Reading Southampton	£40	£55	£80

Overall, the mid-range cost works out as £13 cheaper per sq ft than the average price for a London fit out, potentially saving a substantial amount for larger scale projects. The price of construction sees the most saving, with a further shaving off the overall sum with cheaper dilapidation costs. This can offer more flexibility to buyers with how they distribute their budget, with options to spend more on furniture, technology and a higher specification fit out all round.

Carrying out an office fit out outside of London

Competition in the marketplace stems from the battle for the best location and talent; with rent prices and competition so high in London, it’s no wonder there is an increasing number of companies moving away. Among these names are HSBC and Amazon, who have recently sought new offices in Birmingham and Manchester – and for good reason.

The saving on rent rates in Manchester average at £20 per sq ft and with lease lengths usually spanning between 5-10 years, this is a saving that could contribute to a larger spend on a higher specification fit out. Consider the lifecycle of your office and the period of time that you intend to stay; will it be more cost effective to spend more on your fit out initially to save expenditures on reparations later on? All offices endure significant wear and tear throughout occupation and to keep your office looking fresh and up to standard you will need to afford refits and refreshes during your tenancy. Thus, wouldn’t it be better to spend money on a more sustainable fit out from day one?

Avg. mid. costs	Construction	Furniture	AV/IT	Dilapidation	Security	Total
Manchester Nottingham Derby Birmingham Sheffield Bristol Leicester Cambridge Leeds Liverpool Gloucester Oxford Portsmouth Reading Southampton	£50	£16	£10	£15	£2	£93

Not only are businesses moving out of the Capital but there is a significant rise in the number of employees who are trying their luck in other cities. Research indicates that 1 in 5 London-based businesses and 1 in 5 workers in technology have relocated or are considering moving to a new city. The competition to attract talent is increasing but with a first-rate office fit out you may not have to try too hard. When HSBC moved their office to Birmingham, they already had 88% of their jobs filled months beforehand. More people are seeking work opportunities outside of London and the need to secure an attractive office environment to draw in new talent is increasing.