Powell Williams identifies the pros and cons of whether to move or refurbish your existing location

The dilemma of whether to move location or refurb an existing premises is more keenly felt in a recession when belt tightening often outweighs other considerations.
Our clients behave differently depending on the sector in which they operate. Many industrial clients have been more inclined to re-negotiate their existing terms, with the aim of remaining in their current premises, this is understandable considering the significant cost and upheaval of moving a manufacturing, logistics or warehousing

Retail and office-based clients often favour re-locating, able to make the most of competitive rents and space that may have been upgraded. Tenants can often take advantage of rental incentives providing the ability to remodel/refurbish space to their own tastes, offsetting refurbishment costs through rent frees.

Overall, we still see a healthy mix of both scenarios still occurring and would advise clients to consider the pro's and con's outlined in the attached PDF.

If you need further advice on this matter, please contact Andy Williams on 01244 319046.

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