When it comes to the evolution and growth of your business, there are many hurdles you may come across when it is time to expand. A common question for business owners is whether to buy or lease a property. Another is whether to expand into a new building or a renovated or refurbished space.
Once again there are many factors that will decide for your business in particular and we have a few pointers for you to help you get to a conclusion. Refreshing trends in the design of workplaces, technological advances and an increased focus on wellness is placing corporate Australia under pressure to provide better office spaces.
When you are looking for a new space however, weighing up the options can come down to the dollar outgoing vs the dollar incoming. So, should your business be looking at new or refurbished space?
Can well-designed refurbished spaces work as well for your business as a new modern-edge state of the art space? Of course, it can. If the building is in great condition before a refurbishment, there is no real point in demolishing and starting again. An empty building is basically an empty canvas. By cleverly refurbishing to the standards of brand-new builds can add enough value to the building to make it worth the efforts.
If you own the building, there is nothing stopping you from fitting out based on the specific needs of the renter. If you are looking to lease a property, there is no reason you can’t ask the owners about refurbishment options. Modern office spaces will reflect on the productivity of your business directly. Modern spaces offer better technology, better working conditions and higher efficiency. There is no reason you cannot convert an old building into a modern space.
The difference with a new build is that you have the opportunity to create whatever type of space you desire based on your exact needs. Older buildings have a specific structure which won’t always be able to be adapted completely.