Moving Costs

It is imperative for tenants to evaluate moving costs when considering office space relocation. Some expenses, such as the cost of the physical move and IT set-up are obvious line items in a budget. However, many less apparent expenses present themselves throughout the transition process. Over the years we have seen items consistently causing companies to underestimate their moving budgets.  

Here is a list of essential considerations:

  • Furniture teardown, assembly and/or purchase
  • Disposal of equipment, files and/or furniture
  • Packing, moving and unpacking
  • Transfer of security infrastructure
  • New signage, letterhead, business cards and forms
  • Plants (“green” redesign and layout for new space)
  • Office Equipment
  • Sound attenuation systems
  • Artwork (consideration of interior design services)
  • IT and Telecoms (network cabling infrastructure, phone, ISDN lines, server rooms, etc.)
  • New computers
  • Balance sheet write-off
  • Potential consultation with / hiring of office fit-out professional team

Some of these items may be more complex than they ostensibly seem. For example, furniture teardown and assembly may need to be estimated for disparate moving in phases versus a one-time transition. Rates may also differ depending on whether the move takes place during business hours or off-peak. Data and phone drops should be evaluated on a “cost-per-drop” basis and estimated for your customized needs, e.g., 1.5 drops per employee.

In any case, relocation budgets should be carefully compiled and evaluated with precise attention to detail.