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
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