In recent conversations with clients we are receiving feedback that companies are currently pausing plans for relocation as the dust settles on what the ‘new normal’ will actually look like.
Despite the ongoing progress being made it remains to be seen whether a full time return to the office is likely to happen for a typical office employee. Companies are unsure of how much space they will require and what their office space will require – the traditional fixed desks and some partitioned meeting rooms seems likely to give way for a limited number of hot desks and larger break out spaces.
We are hearing that many companies are holding over and signing one year extensions, as they don’t want to play their hand early and end up with too much or too little space.
Uncertainty is rarely welcome in business and where companies are considering future plans they should seek to ensure that they are well informed regarding all aspects of a relocation, including their dilapidations liabilities on the existing premises.
At Aitchison Raffety, we are vastly experienced in advising clients on their dilapidations liabilities and have found that the earlier clients engage a surveyor the smoother the process tends to run. For tenants we offer an assessment of dilapidations liabilities which can be undertaken during any point of a lease which enables our clients to better plan for their business, in accordance with good accounting practices.
Rates of settlement for dilapidations are typically circa £20/sq ft for office accommodation and £10/sq ft for industrial however each case will depend on the specifics of the situation. In undertaking assessments we will consider a number of factors including the condition of the property, the lease obligations and the landlord’s intent for the property (where known).
If there are any business in need of advice on dilapidations or indeed any other surveying matters please do get in touch with the team.
Stephen Seeney, Associate Director – 0121 600 7220, email@example.com.