Our guide also provides an 'all-in' section to include furniture, audio visual, professional fees and contingency allowances associated with delivering low, medium and high-quality fit out projects within London and the South East.
Following Brexit and the easing of the COVID-19 UK restrictions, price levels have risen due to increased material costs and labour shortages. In addition, the office is evolving, and clients are adopting more flexible working models, with greater focus on collaboration and technology. Sustainability is also becoming an increasingly important consideration - all of which have material impact on costs.
Key Findings:
- Demand is currently in danger of outplaying supply, which is filtering through into increased tender returns.
- Several factors have continued to impact tender pricing following Brexit and the easing of the COVID-19 UK restrictions, including trade labour and material shortages.
- Due to buoyant demand, contractor appetite for risk is reducing.
- Increased collaboration spaces and technology to support virtual meetings are now key components of a fit out.
- Despite the cost implications of enhancing sustainability during a building fit out, a well-designed resource efficient fit out will reduce business operation costs.
- Current inflation provisions are higher than in recent years.
- Cushman & Wakefield forecasts that price levels will continue to increase into Q1 2022.
For more information on the guide or our cost consultancy services, please get in touch with a member of our team.
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