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How much does an office fit out cost in 2024?

How much does an office fit out cost in 2024?

How much does an office fit out cost in 2024?

How Much Does An Office Fit Out Cost In 2024?

A typical office fit out costs between £58 – 120 per square foot.  

Costs per square foot  Low/SilverMid/GoldHigh/Platinum
Fit out and construction£45£50£75
Furniture and installation£9£13£32
AV & IT  equipment£3£5£10
Relocation£1£2£3
Total£58£70£120


Establishing the exact cost of an office fit out in 2024 remains elusive due to the multitude of factors at play. Your project's unique requirements, including size, location, and specific needs, render any general estimate insufficient for informed decision-making.  This article will help provide clarification on what factors may influence the cost of your office design and fit out project.

Our research and experience in completing office fit outs for over 20 years suggests that a standard 10,000 sq ft project typically falls within the abovementioned cost table. However, these figures are contingent upon assumptions like the adequacy of base build and Cat A power and HVAC provisions. Various variables influence potential expenses, ranging from the condition of the building to your organizational necessities.  Read our blog here which delves into the details of how the existing office condition affects the cost of an office fit out.  For instance, newer structures often demand fewer cosmetic alterations, potentially reducing costs.

office fit out cost

7 key factors that affect the cost of any office fit out

Cosmetic vs. Structural Changes

Assess whether your project entails cosmetic enhancements or structural modifications. Cosmetic alterations such as redecoration and flooring updates incur different costs compared to structural changes like erecting new walls or doorways, which tend to be pricier due to their complexity, risk and potential requirement for consultants such as structural engineers. 

AV and IT Systems

The integration of technology is increasingly integral to workspace design. Determining your IT and AV requirements influences flexibility, productivity, and collaboration capabilities within your office environment. 

Furniture Needs

Selecting appropriate furniture is pivotal for creating conducive work environments. Considerations, like sit/stand desks, task lighting, and acoustic panelling, reflect a growing emphasis on employee well-being and productivity.

Timeline

Your project timeline directly impacts costs, with shorter durations often necessitating more out-of-hours and weekend work. While a typical fit out for a 1,000 sq m project spans 10-12 weeks, timelines can be tailored to align with your schedule.   For some office fit out projects it is necessary to phase the delivery phase of the project to minimise disruption to the business, typically by extending the programme, it requires more project management and site management etc which can increase preliminary costs.

Office Space Size

Determining the optimal office space involves evaluating current needs, future aspirations, and market dynamics. Space requirements correlate closely with real estate values, making a thorough workplace appraisal invaluable in making informed decisions.

Traditional vs. Design and Build Approach

Choosing between traditional construction methods and design and build (D&B) solutions hinges on project complexity and preferences. D&B offers a comprehensive package encompassing design, consultancy, project management, and construction services, proving particularly popular for projects valued under £2,000,000.

Specification and finish

The office fit out costs are primarily determined by the specifications needed by the company relocating to the new space. Some businesses may require high-end finishes, fixtures, and furniture, whereas others may have more basic specifications.   To help with determining which specification is right for your project we have broken down the specification into 3 different levels.

This article explains how the existing office condition will affect office fit out cost. Click here for more information.

Now we have covered the main factors that influence any office fit out costs we look into each cost more specifically for each budget category.

office fit out for Chandos in 2024

How specification level impacts office fit out costs

Low/silver budget office fit out costs

To give you a better idea of a low-budget office fit out, let's say a company with 50 employees is relocating to a 6,000 Sq Ft area in a modern building. The building has already been designed and fit out to a Cat A standard and only requires a minor office fit out. To set up your new workspace, the baseline cost would be around £200-280k for fit out and an additional £20-40k for furniture, making the total cost fall between £220-320k. This option is ideal for businesses on a tight budget, as the main focus is to create a comfortable work environment.

Mid / Gold budget office fit out costs

As the size and specifications of an office space and fit out increase, so do the costs of fitting it out. A good-quality office fit out would involve choosing durable and ergonomic furniture, which can increase office fit out costs to over £50 per sq. Ft. In addition, office furniture costs are estimated to be around £600-£800 per person. With this budget, the company can create a beautiful work environment with additional features and innovative design elements that can have a significant positive impact.

This budget also allows for greater structural changes and improvements to existing services like lighting, cabling, flooring, and AV, making it a worthwhile investment.  The budget also allows for products and finishes with greener credentials such as carpets made from recycled products with lower carbon footprint.

High / platinum budget office fit out costs

If your organization wants to create an exceptional and award-winning workplace, the office fit out costs can potentially be limitless, but usually, they start at around £75 per sq. ft. However, depending on the scope and specifics of your fit-out, costs can significantly increase.

High-end finishes and custom-made furniture, advanced smart office technology infrastructure, and installation of top-notch, efficient HVAC systems are some factors that can contribute to the costs.  This range would allow for ergonomic furniture such as sit-stand desks, booths, pods and other flexible working furniture solutions.  Typically a project with this budget has the potential to achieve construction sustainability accreditations such as BREEAM or SKA.

modern office fit out

So how do I budget for an office fit out?

To budget for an office fit out, firstly establish what office size you require, this can be done using the budget calculator, this free tool provides a budget for your project and an estimate of how much space you require.  Once you have the total square footage calculated and have allowed for future growth etc you need to decide which category you see is most suitable for your company, low / silver, mid / gold or high / platinum.  You may have already found a new office space to move into, in this case, your commercial agent will be able to provide details on the office space you will be renting, its size and level of finish.

This would provide you with a good base budget to work from.  The budget cost calculator will provide you with a more accurate office fit out cost, click here to undertake this process.

If you need further help on how to estimate your budget for your office fit out, get in touch today.

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