Not having a raised floor can mean that fit out costs can increase as more innovative solutions are required, or a raised floor needs to be installed, How old is the building and/or it a listed building? It also allows for a greater level of structural changes, and improvements to existing services such as lighting, cabling, flooring and AV. If you'd like to find out more, please download our full report. Cat A: €1800: €2800 m 2: Suburban: Developer Standard: Shell and Core incl. This pan-EMEA publication, that combines data from the Warsaw market among dozens ... CAT B Construction Costs, Professional Fees, as well as furniture costs, they exclude: CAT A works, Client Direct Typically, a Cat A fit out … Fit Out Cost Guide 2017. In this cost model, covering mechanical, electrical and public health (MEP) services, Aecom examines the capital cost of the shell and core – and Category A fit out – of a central London commercial office with a gross internal floor area (GIFA) of 20,000m 2.The model features fan coil units, water-cooled chillers, cooling towers, passenger lifts and LED lighting. A massive part of getting your costs right is figuring out what you need from an office refurbishment. It is often used in relation to office developments, where the base construction is completed by the developer, and the final fit-out … Ft with office furniture costs coming in at £800-£900 per person approx. This report follows up CBRE’s ‘Fit-Out Cost Guide’, a regional research document completed in 2014. In Central London, occupiers took-up 3.4million sq ft in the final quarter of 2018 boosting the annual total to its highest since 2010. Calculate your office fit-out costs in seconds with our handy calculator tool. Try our office cost calculator to get an obligation-free quote for your workspace: How Big … The average cost of an office fit out is measured by square foot and generally ranges from £12.50 to £52.75 per square foot depending on the specifications. Office fit-out clients tend to be end-users and are not necessarily experienced construction clients. Nonetheless, in the context of a robust investment environment and wider structural issues it is anticipated that tender prices will increase 3% in 2019 with further increases of 4%-5% in the years 2020-2022. Since our fit-out costs specifically exclude furniture you now need to add in the costs of new furniture. The type of space you are considering or currently lease. Most often, it describes the level of fit out provided by the developer to the landlord. Consequently, this market calls for experienced teams that can deliver to fixed time, cost and quality criteria with minimum direction or management from the client. Currently a standard developer’s Cat A fit out is benchmarking at around £52/ft2. Usually the shorter the timeline, the more out of hours and weekend work you’ll require. The fifth edition of the London & South East Occupier Fit Out Cost Guide is looking at average commercial fit out costs across a range of sectors, to help guide occupiers through the early stages of defining their relocation budgets. Senior Living Resilience During Uncertainty, The Attraction of Alternative Real Estate, Cushman & Wakefield uses cookies to analyze traffic and offer our customers the best experience on this website. If you imagine that with a Cat A fit-out, the blank canvas has been completed and the ‘foundations’ of the structure have been set. If you’re looking to move into a new office or refurbish your existing space, you may feel slightly overwhelmed with the jargon that we take for granted in the world of construction. Project costs vary and figures quoted above are averages per square foot for typical CAT B office fit-out and office refurbishment. As the tenant you will need to choose a fitout partner to create the style of your new office space to reflect your business needs and brands. The state of the mechanical and electrical (M&E) systems servicing the space i.e. You can also download our Guide to a Successful Office Fit Out by clicking here. The Difference Between a ‘Shell & Core’, ‘CAT A’ & ‘CAT B’ Fit-Out Fit-out’ is a term used to describe the process of making interior spaces suitable for occupation. Confidence in UK Student Accommodation Remains Upbeat Despite Levels of Transactions Slowing, Cushman & Wakefield Reacts to the Budget 2020, Cushman & Wakefield Wins Platinum Clean City Award, low specification averaging £56 per sq ft, medium specification averaging £88 per sq ft, high specification category B fit out averaging £139 per sq ft, Construction Industry Structural Issues Continue to Weigh, occupiers took-up 3.4million sq ft in the final quarter of 2018, The failure of Carillion and c. 2,500 other firms in 2018. Recently published data suggests that Britain’s construction sector sustained its first back to back fall in output levels since August 2016 with commercial work and civil engineering activity subduing the positive contribution of residential building construction. What is driving this alternative property investment market growth? While there is no definitive answer in relation to how much an office fit out costs, we hope this article provides some insight and useful information. Welcome to the Wagstaff Interior Fit-Out Space Calculator. Both contractors and consultants who can sell their experience as a specialism can successfully exploit the sector. The space would also require a basic level of décor and furniture. How many times have we been told that we live in unprecedented times and that innovation can be a consequence…, There have been numerous articles surrounding the workplace and the impact that Covid-19 will have on the traditional office environment…, There has been a plethora of articles around the future of the office and how workplaces can adapt post-Covid-19 to…, K2 Space Furthermore, as the date for the UK's exit from the EU approaches (albeit the form in which this will be manifested is unclear) Bre… Try our office cost calculator to get an obligation-free quote for your workspace: How Big … What’s Cat A? However, an office fit out is a big project with a lot of costs involved. Understanding the scope: Cat A or Cat B. The space would also require a basic level of décor and furniture. The failure of Carillion and c. 2,500 other firms in 2018 must be observed through the broader lens of an industry plagued by a number of chronic performance issues, namely; low comparative productivity levels, skilled labour shortage exacerbated by a lack of diversity, corrosive supply chain relationships and endemic cash flow problems. ft. We’d call it a basic fit out if an office needs a minor fit out and is already prepared to Cat A standard, (unfurnished with all the basics like lighting and sockets installed). A decline in activity from both German and US investors were offset by a rapid growth in South Korean and Singaporean investors attracted by beneficial forex fluctuations and taking a longer-term view on the UK’s competitiveness. Ft cost will depend on a number of factors, including: We tend to answer the question ‘How much does and office fit out cost?’ by stating that a basic or standard office fit out costs from £35-£40 per Sq. Welcome to the Wagstaff Interior Fit-Out Space Calculator. A typical fit out for a 1,000 sq m project is 10-12 weeks, but this can be shortened or extended to meet your programme. Fit Out Q&A: Difference between Cat A & Cat B fit out We take you through the differences between Cat A and Cat B fit outs. Well… B. Amongst the new space taken-up, c. 27% have been firms in the technology, media and telecommunications (TMT) sector further underpinning London’s status as a global technology hub and proving contrary to predictions of a mass exodus from the City. Office Fit Out Cost Guide As part of any initial discussion at feasibility stage with a potential client looking to move office we are asked to provide, for budgetary purposes, an independent guide to CAT B fit out costs. If you’re looking to find ways to care for a cat that better fit your budget, here are a few simple tips: Think Adoption First. Where a company is required to bring an office back to its Cat A state for hand over to the landlord, we provide a dilapidations service which typically involves the strip out of partitioning, flooring, decorating and furniture. In 2018 28% (£17bn) of all commercial real estate investment in the UK was in alternatives - hotels, student living, residential, healthcare, data centres, self-storage and car parks - the highest level on record. Based on some of our recently procured projects we are seeing Cat A costs ranging from £47/ft2 to £56/ft2, This report follows up CBRE’s ‘Fit-Out Cost Guide’, a regional research document completed in 2014. Simply put in your specifications for a quick budget estimation. You shouldn’t underestimate the amount of work involved taking your space from Cat A to Cat B. Has Covid-19 accelerated the Evolution of the Workplace? The type of space you want to create. Furthermore, as the date for the UK's exit from the EU approaches (albeit the form in which this will be manifested is unclear) Brexit related uncertainty would suggest organisations taking a more conservative approach to real estate investment risk. Basic office fit out costs per sq. CAT B, in particular, as these are the costs that are usually borne by the tenant looking to occupy the space. © Copyright Cushman & Wakefield 2020. This option is really designed for companies on a tight budget and focuses primarily on ensuring that the space is a comfortable work environment. Despite there being nascent signs of progress in these areas (particularly the drive to adopt offsite construction as a means to improve productivity, various high-profile diversity schemes and the adoption of BIM processes / technologies) Cushman & Wakefield data indicates these latent issues will continue to contribute to tender price inflation. The 5th Edition of our London and South East Occupier Fit Out Cost Guide provides latest data driven insights into the costs associated with the delivery of low, medium and high-quality specification fit outs in London and the South East. Ft – read this article about the most expensive office fit out on record in London, a whooping £500 per Sq. ‘Fit out’ is a term used to describe the process of making interior spaces suitable for occupation. There are numerous reasons why companies decide to fit out a new or existing office space, their old space may not be big enough to facilitate growth or they may have a lease expiring and decide that an office move is the best option. Each regional guide is an indispensable reference point for industry professionals looking to make informed decisions around leasing costs, capital and operational expenditures, and address the common question “How much will it cost to…?” Cat B (also known as Category B fit out) follows on from a Cat A fit out to provide a space that your company can simply move into and start working. The 5th edition of our London and South East Occupier Fit Out Cost Guide provides latest data driven insights into the costs associated with the delivery of low, medium and high-quality specification fit outs in London and the South East. Set out in table form are budget costs for the design and fit out of all different types of spaces. Recently published datasuggests that Britain’s construction sector sustained its first back to back fall in output levels since August 2016 with commercial work and civil engineering activity subduing the positive contribution of residential building construction. There can tend to be complications with older buildings as normal wear and tear can take its toll, while if the space is within a listed building, there can be an increased level of paperwork required before any fit out can begin which can impact costs, Ultimately, office fit out costs are heavily influenced by the specification required by the company moving into the new space, whether they desire high spec finishes, fixtures and furniture, Standard/Basic Office Fit Out Costs: £35 – £40 per Sq. Price increases are expected for suspended ceilings in particular, which when coupled with the weak pound is likely to push this figure upwards. ft: £35-£45 16 Barnsbury Square Office Fit Out Contractors will generally provide estimated costs per Sq. Completed Cat A fit out included, cleaners sockets small power, lighting, suspended ceilings, ventilation, decoration and flooring Category ‘B’ Works These works generally follow completion of Category ‘A’ works, but can be incorporated into a Category ‘A’ construction programme as the example above on the 10 th floor at City Tower. Your timeline will shape your costs. In summary, you can spend as much or as little as you like when it comes to office fit out costs, but our recommendation as a fit out contractor would be define exactly what you want your new workplace to deliver, and to then set budgets accordingly – our guide to a successful office move, may prove useful. Typically, a Cat A fit out … heating, ventilation, power supply etc. We carry out both Cat A fit-outs and Cat B fit-outs. Typically, a Cat A fit out includes: Raised floors and suspended … How Much Will It All Cost? Ft. Now, to put that in context, the space did have a marble staircase, gold toilets and a dedicated restaurant. Simply select CAT A or CAT B and complete a short tick-box form to obtain an instant email of your estimated fit-out project. Furthermore, recent Office for National Statistics (ONS) employment data has indicated a net growth of the London workforce of 278,000 lead by the TMT and Financial services sectors respectively all requiring additional space for staff. [email protected], The Office is Dead, Long Live the Office | Reinventing the Workplace Post Covid-19. If you’re moving to a new development it’s most likely that you’ll be leasing either a Shell and Core or Cat A … We get into more detail in our post here, but basically, Cat A is the blank canvas, and Cat B is the work of art. Fuelled by ideas, expertise and dedication across borders and beyond service lines, we create real estate solutions to prepare our clients for what’s next. We’re a member of the UK Green Building Council and can help your project achieve a SKA, BREEAM or WELL Building accreditation. Cat A capital allowances might be a negotiating factor in the agreement to lease negotiations. Select from Budget, Midrange and High End fit-out requirements. Cookie Notice. Basic fit out cost per sq. What’s Cat A? Despite the mixed picture presented, there remains an unprecedented level of uncertainty heading into 2019 lead by the form of the UK’s withdrawal from the European Union. Despite the pessimism borne by recent economic data, Britain continues to be an attractive destination for inward investment attracting more foreign direct investment (FDI) in the years 2015-2018 than the next placed countries Germany and France combined with London leading the way. As companies begin to look at new spaces and to set budgets for rent and associated move costs, it is important to consider the office fit out costs, and to get accurate estimates from fit out contractors. The interesting point is who claims the capital allowances tax break which can be substantial as 60% of fit out costs can be the cost of mechanical and electrical services which qualify for depreciation and tax relief. All Rights Reserved. Landlord contributions to tenants for landlord works (Cat A) and for tenant works (Cat B The EMEA Fit-Out Cost Guide series remains the most comprehensive analysis of office fit-out pricing across all global regions. If the M&E is old or not in working order, it can be a costly exercise to install new systems, so it worth appraising the M&E of any shortlisted space, Does the space have a raised floor? In very simple terms, your project cost is dependent on two main factors. As a needs-based product, senior living real estate has historically proven to be more recession-resilient and stable than traditional real estate sectors. It is worth noting that the most expensive fit outs on record go right up to £500 per Sq. We are often asked by clients how much does an office fit out cost in London? We get into more detail in our post here, but basically, Cat A is the blank canvas, and Cat B is the work of art. The Q1 2019 London and South East Occupier indicates that Category B fit-out costs have increased c. 1% year on year from Q1 2018 with the following average costs now being seen for delivering a low/medium and high specification Cat B fit-out: Looking ahead it is anticipated that tender price inflation will increase 3% with further increases of 4%-5% in the years 2020-2022. Generally speaking, Cat B fit-outs are everything that Cat A fit-outs are not, but it is far more than this. A new report on office fit-out costs in North America sets out to establish a range of benchmarks for three different office styles, and to suggest what businesses favor which style.. JLL’s project and development services group, which produced the report, used data from more than 2,800 JLL-managed project budgets for over 100 clients from 17 industries in 59 markets throughout the U.S. … Cat B fitout is perhaps what most people are familiar with. Developer Standard: Shell and Core incl. CAT B, in particular, as these are the costs that are usually borne by the tenant looking to occupy the space. This will allow a developer to calculate a total fit out cost based on the internal area of the hotel, giving developers an outline fit out cost for the hotel development. Close this dialog to confirm your consent, or visit this page to learn more: Our EMEA Fit-Out Cost Guide 2019 provides you with the data and intelligence that you need to make informed, valid decisions about your real estate portfolios, enabling you to achieve your workplace ambitions.. Ft. +44 (0)20 7697 4670 In short, a Cat A fit out results in a space that’s fully functional, but empty. ft. We’d call it a basic fit out if an office needs a minor fit out and is already prepared to Cat A standard, (unfurnished with all the basics like lighting and sockets installed). CBRE is delighted to present the 2017 suite of Fit-Out Cost Guides. Cat B then is moving this along to include the fitting of the fabric of the building or space. Cat B fit outs leave the space tailor-made to suit the occupant, from custom features to branded finishes – down to the flowers at reception. As with all developments, fit out costs … Great fit outs don’t need to come with a great environmental cost. The collapse of the Carillion Group in 2018 sent shockwaves throughout the industry, not only as it represented a significant insolvency of a strategic service provider but also the fear that others could follow suit. Office fit out costs rise as the spec level and size increases, and for what we would term a good quality office fit out, where durable, ergonomic furniture is selected, the fit out costs would increase to between £45-£65 per Sq. The guide prepared by our London Cost Consultancy team aims to not only provide a sectoral analysis of average Category B fit out costs but now also includes a comprehensive “All-In” Fit Out Costs section which provides indications of supplementary costs that require consideration when occupiers define relocation budgets. Simply select CAT A or CAT B and complete a short tick-box form to obtain an instant email of your estimated fit-out project. A massive part of getting your costs right is figuring out what you need from an office refurbishment. An update on the impacts of COVID-19 pandemic on real estate investment in EMEA. This can impact costs as a raised floor allows for optimum power supply and distribution management, allowing all cabling to remain hidden underneath. A new report on office fit-out costs in North America sets out to establish a range of benchmarks for three different office styles, and to suggest what businesses favor which style.. JLL’s project and development services group, which produced the report, used data from more than 2,800 JLL-managed project budgets for over 100 clients from 17 industries in 59 markets throughout the U.S. … Diverse organisations such as legal practices, banking institutions, government agencies and media consultancies all operate in dif… This pan-EMEA publication, that combines data from the Warsaw market among dozens ... CAT B Construction Costs, Professional Fees, as well as furniture costs, they exclude: CAT A works, Client Direct A simple tool to help you obtain general cost ideas for your office refurbishment project. Category A refers to a basic landlord fit out, creating a blank canvas box (in various shapes depending on the building) suitable for any tenant wishing to move in and make their own mark, but adding just enough elements to make the space ‘liveable’, but very much an open plan space. To put that into context, if a company with 20 staff is moving to a 2,000 Sq Ft space in modern, new building that has been fitted out to a Cat A finish, and requires just a minor fit out, the baseline cost would be between £80-100k for fit out, and £10-20k for furniture, totaling between £90k – 120k. Ft, Mid-Range Office Fit Out Costs: £45 – £65 per Sq. Studio B The average cost of an office fit out is measured by square foot and generally ranges from £12.50 to £52.75 per square foot depending on the specifications. We love sharing our insight from the industry. However, an office fit out is a big project with a lot of costs involved. Select from Budget, Midrange and High End fit-out requirements. Understanding the scope: Cat A or Cat B. The occupant will generally be leasing space as a tenant from the developer/landlord. Simply put in your specifications for a quick budget estimation. Access our global interactive map - a portal to the latest stats and insights for all property types around the world. We outline the difference between the offers, along with market leading research on coworking trends across the world. Category A refers to a basic landlord fit out, creating a blank canvas box (in various shapes depending on the building) suitable for any tenant wishing to move in and make their own mark, but adding just enough elements to make the space ‘liveable’, but very much an open plan space. A refurbishment project may include the stripping out an existing Cat B fit out before replacing it with a new and improved Cat B that works better for the new tenant. But to truly understand the difference between these types of projects, we need to understand what we mean by fit out. During our fit out projects, we strive to recycle and divert as much waste from landfill as possible. A high spec office fit out generally means that the space is completely revamped and that all feasible improvements are made and that top quality, even bespoke furniture and joinery is included within the design.