How to Deal With Office Renovation?

MELBOURNE, Australia - Oct. 30, 2017 - PRLog -- Renovating an office building is a decision which involves many issues.   After you make the decision to renovate, your major task is to find the right persons to carry it out. The company or architect assigned the job also has many issues to deal with.

Here are a few tips to renovate an office building:

Ask the fundamental questions:

What is the purpose of office fit out and refurbishment? Why should you do it now? What is the need of the client? Who will occupy the space? How will it be used? How can you maximize property value and minimize capital investment? What are the economic and physical barriers to success? Does the existing space serve well, the needs of present tenants? Is the decision to renovate driven by corporate goals?

It is only after you have done your research on such 'critical factors for success' will you be able to determine if you can complete well a project for your client.

Consider the neighbourhood:

Take a good look at the neighbourhood of the office? What amenities of value are perceived today, which were not existing when the building first came into the market. For instance, a property will have a huge draw if surrounded by new health facilities, shops and restaurants.

Consider economic incentives of location

Some buildings may have economic incentives like financing and tax incentives, especially deferred property taxes. One must always look for incentives for development.

Prepare exit strategy for the property

What is the best and highest use of the property? In case you were considering the conversion of the building for adaptive re-use, what is the best solution for a prospective buyer? Wherever possible, make improvements which will provide value later. For instance, adding a staircase can convert a building to use for multiple tenants on each floor.

Set communication plan for current occupants

Manage tenant expectations by allowing current occupants of office be aware of work schedule. For example, if you are renovating the lobby or rest rooms, let office occupants know about what changes in wall coverings or new finishes they can expect.

Build up on strengths of building

When it was brand new, what features of the building were most attractive? Refurbish the office with the same features so that the property enjoys the best possible position in the market conditions of today.

Determine crucial features

Consider which features should and can be saved. Make a priority of the features and systems which need to be updated. It is also noticeable that each listed item has a cost to the developer/ owner and potential value for the future office company or lessee.

If lobby lighting, system controls and mechanical units have been updated or recently replaced, consider the possibility of getting an Energy star rating. This rating shows that energy consumption of building is below the standards of buildings of same size and type.

Enhance aesthetics of the office

For the success or new or renovated projects, first impressions are crucial. There are some features which make the office attractive- underground parking, landscaping, etc. Seasonal flowering plants in the office can enhance its ambience.

These are some facts about renovating an office or building. For more info visit:
http://elwoodbuilding.com.au/commercial/