Office Renovation?

AUG 2021 | LAST UPDATED

 
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SNAPSHOT

Looking to engage an office renovation and interior company for designing, constructing, and furnishing your new workplace? There are hundreds of design firms and contractors, and can range widely in scope based on tenant needs and geography.

FINDING A SUITABLE DESIGNER

Selecting the most suitable designer / contractor always seems easier than it really is. Since it is assumed that all designers are created equal, the temptation is to hire the vendor with the lowest price. Hiring a sub-standard vendor can jeopardise an office move.

A vendor who can’t deliver on time can cause other delays further down the line and additional costs can multiply. On top of this, most organisations are not staffed for relocation projects since this activity is undertaken only once every lease cycle.

BEST APPROACH TO OFFICE RENOVATION

The best approach is to determine the typical project size and scope in which your designer has the most experience, categorised by industry & track record to ensure your project is delivered on time & within budget. You want to match your project as closely as possible with your designer’s experience.

This guide provides a holistic picture of how various fit out decisions can affect your time and cost. We start with the following key fundamentals that are applicable to both small and large scale projects.

Reduced Project Costs

  • Seek technical expertise and leadership on behalf of your firm and establish project performance criteria to ensure that the solution is appropriate to the organisation’s goals and requirements.

Independence / No Conflict

  • The contractor and architect are not necessarily solely looking out for your firms's interests as they have their own goals and processes.

Value Engineering

  • Contractor, subcontractor and vendor negotiations need to be developed, evaluated and expanded to take advantage of current market conditions, trends and discounts.
  • Competitive pressure, proper scope review can greatly reduce your cost.

Schedule Control

  • Managing the project schedule is critical to managing the project costs. This is where most projects spin out of control and the client is forced to pick between “time or money”.

GLOBAL AVERAGE OFFICE RENOVATION COST

  • US$ per sq ft
  • US$ per sq ft

AVERAGE OFFICE RENOVATION BREAK DOWN

  • Fit-Out
  • M&E
  • Professional Fees
  • AV & Data
  • Preliminaries
  • Fit-Out
  • M&E
  • Professional Fees
  • AV & Data
  • Preliminaries

OFFICE RENOVATION CHECKLIST

  1. Analyse current efficiencies, space utilisations & bench marking to better understand how the current workplace aligns with individual, departmental, and organisational goals and identify areas for improvement.

  2. Coordinate with designer/architect and landlord to ensure timely and accurate production of test-fits with appropriate layout.

  3. Work alongside project managers and engineers to coordinate design phase / creation of construction drawings.

  4. Create, evaluate, and negotiate bid packages for construction management.

  5. Oversee construction of premises.

  6. Manage / negotiate change orders.

  7. Administer furniture selection bids.

  8. Coordinate move.

OFFICE RENOVATION | HONG KONG

Possession of the premises is normally provided in “bare shell” condition. Costs associated with fitting out the space will be borne by the tenant.

Tenants normally pay for all tenant improvements, except that the landlord normally delivers the space with suspended ceilings, ceiling lighting and restrooms (landlord’s standard handover condition).

OFFICE RENOVATION COST | HONG KONG

Costs are typically quoted and assessed on the net square footage of the space and for Grade A or Prime buildings normally range from HK$600 - 1,200 per sf Net, including construction, furniture, wiring, design fees, etc. Ranges shown below are based on circa. 5,000 sf Net (i.e. approx. 6,700 sq ft Gross).

Nominated Contractors

A tenant is generally free to use its own architect and engineers, and must use the landlord’s contractor for air-con / fire sprinkler and plumbing.

The tenant must fit-out the premises according to plans and specifications as approved in writing by the landlord.

PARTNER WITH SAVVI

There are hundreds of contractors. We provide access to full service & best in class specialists, categorised by industry & track record to ensure your project is delivered on time & within budget. Simple.

  • Extract the greatest value of deliverables from external consultants and to mitigate unforeseen costs.

  • Quick response test fits to quickly assess options with your team.

  • Due diligence to ensure your interests are fully protected.

  • Open book procurement in conjunction with our best in class provider, driving best value through competition.

  • Access to specialists for all buildings owned by major Hong Kong landlords, resulting in total understanding of their requirements and procedures, saving both time and cost.

  • Ability to negotiate and purchase discounts across suppliers.

RECEIVE FREE TEST FIT & QUOTATION

VENDOR FORM SUBMISSION

Are you a service provider? Submit the vendor form below, and we will be in touch to discuss synergy.

 
 

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