Office Fit Out Cost Guides
Americas Office Fit Out Cost Guide | EMEA Office Fit Out Cost Guide | Asia Pacific Office Fit Out Cost Guide
The Guides include a comprehensive fit out cost section covering furniture, professional fees, mechanical & electrical works, construction works, audio visual/IT and other miscellaneous costs, as well as reinstatement and retrofit costs.
Estimated costs provided in our Guides are indicative of market averages based on certain assumptions. Extra costs for specific projects may defer to those presented – we recommend engaging a Project & Development Services professional to advise on precise costings base don your unique construction requirements.
AMERICAS Guide 2023 Highlights
The past 12 months have, once again, proven to be turbulent for office sector projects across the Americas.
Receding supply chain constraints have done little to abate rising costs and material delays. Economic uncertainty including inflationary pressures and rising interest rates are putting some construction projects on unsteady ground.
More positively, we continue to see progress across other metrics, and many major companies have adopted some form of hybrid working model, which helps inform how they envision and will use their office space.
Analyzing these continuously evolving dynamics and more, this year’s Guide takes a closer look at 45 key cities and nine countries in the Americas and covers:
- Four key considerations for a best-in-class office fit out: workplace strategy, sustainability, procurement, and technology
- A comprehensive fit out cost breakdown that includes: architectural trades; millwork; doors, frames and hardware; drywall, acoustic and carpentry; general finishes; mechanical, plumbing fire protection; electrical and more.
- Average costs to retrofit and reinstate office spaces.
EMEA Guide 2023 Highlights
Over the past 12 months the primary issue affecting fit out costs has been surging inflation driven by significant supply-demand imbalances resulting from stressed supply chains, tight labour markets and the conflict in Ukraine.
Fit out costs across Europe have risen by an average of 9% (in euro currency) over the last year with high-quality fit outs now averaging €2,214 per sqm.
The increase is broadly in line with the peak rate of inflation encountered in the UK and euro area.
High fit out costs in the UK and Germany are being further driven by elevated expectations in these regions in terms of design sophistication, technology solutions and quality of fit out.
This year’s Guide takes a closer look at 25 key cities and covers:
- 4 key considerations for a best-in-class office fit out: workplace strategy & change management, sustainability, procurement, and technology
- Cost estimates of the different styles of fit out to cater to the post-pandemic workforce
- A comprehensive fit out cost breakdown that includes furniture, mechanical and electrical works, construction works, IT, audio visual and miscellaneous costs
- Average costs to retrofit and reinstate office spaces
APAC Guide 2023 Highlights
Most, if not all, companies have adopted some form of hybrid working model, often in response to employee expectations of increased workplace flexibility. Similarly, sustainability targets are increasingly becoming the norm, as are more visible practices to foster and promote diversity, equity, and inclusion (DE&I). The role of technology has never been more important – both as an enabler of change and as a means of measuring the impacts of change.
Together, these factors mean that the fitting out of office space goes beyond how the space looks, to include how the space contributes to a company’s financial, social, and sustainability goals whilst also reflecting corporate brand and culture.
For 32 key gateway cities across 12 markets in APAC, the Guide covers:
- 4 key considerations for a best-in-class office fit out: workplace strategy & change management, sustainability, procurement, and technology
- Cost estimates of the different styles of fit out to cater to the post-pandemic workforce
- “All-in” comprehensive fit out cost breakdowns that includes furniture, mechanical and electrical works, construction works, IT, audio visual and miscellaneous costs
- Average costs to retrofit and reinstate office spaces
Connect with the authors
Andrew Carmichael
Senior Director, Project & Development Services, Asia Pacific
Singapore, Singapore
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