Whether you are a property owner or tenant, you’ll be aware of the importance that property size, condition and layout arrangement has on your bottom line. Does it represent an efficient use of space? There are hidden, as well as the obvious demanded costs for occupying poor and inefficient property.
From the tenant’s perspective, costs per square metre can quickly rack up when rent, heating and rates etc. are considered. Productivity losses may also occur if your staff are unhappy with cramped or drafty offices for example. These hidden costs can creep in over time, as unhappy staff leave incurring recruitment costs. We encountered such cramped and decrepit office conditions when engaged as Project Manager for extensive internal alterations and refurbishment of a Victorian office building. We significantly refurbished and altered the internal layout and as a result increased the available occupancy space by 50%.
Productivity losses are even more obvious in a manufacturing or warehousing environment where inappropriate space can cause all kinds of disruption, ultimately losing money for the business. Sometimes “wrong sized” industrial space can cause other problems. For example, we project managed the demolition of a link building that connected two industrial units to form a large industrial site which attracted little interest from buyers when the owner wanted to sell. The outcome of splitting the units into two sites immediately made them more attractive to buyers resulting in quick sales of both buildings. Furthermore, the total sales price achieved was greater than if the two buildings had been sold as one lot.
It may seem daunting to carry out any building work especially when the building is occupied and the disruption could be perceived as very expensive. We have strong experience that shows this doesn’t have to be the case at all. A mixed use office/retail building in Liverpool city centre, where we were engaged as the Contract Administrator after it was found that re-roofing the building was the only appropriate course of action to solve the building’s chronic water ingress problems. The work was successfully carried out while it was fully “business as usual” for the office and retail tenants below.
When helping to solve our client’s problems, we place great emphasis on detailing work specifications and other tender documents as thoroughly as possible before tendering the works. This produces more accurate tender returns, reduces the risk of project cost over-runs and provides our clients with the benefit of greater cost certainty.
As they say, “The devil’s in the detail”, so why not let Trevor Dawson Commercial Property Consultants tackle your building devils for you.