Zero Office Fit-Out Cost?
SEP 2021 | LAST UPDATED
SNAPSHOT
An office fit-out includes designing, constructing, and furnishing the physical workplace. Office fit outs can range widely in scope based on tenant needs and geography. An office fit-out can also be called a “build out” or “tenant improvement”.
GLOBAL AVERAGE FIT-OUT COST
THE SECRET TO SECURING ZERO FIT-OUT COST?
Careful planning and full market coverage are the tried and tested ways of sourcing the ideal fitted office space and taking it up in ‘as is’ condition from the landlord.
The problem is that the most attractive real estate opportunities are often short-lived, difficult to source, analyze & execute. This is a recurring problem in the real estate industry, and often there is a lack of transparency and insufficient coverage of upcoming or off market opportunities.
Through SAVVI’s data & AI driven Tenant’s Network, clients seeking fitted offices can access not only existing market vacancy but also upcoming and off market fitted offices ahead of the competition. This revolutionary approach to office search creates full transparency of opportunities within your transaction window and creates market fluidity for demand and supply.
Submit your office search, and let the ideal fitted office find you, generating massive savings for your business.
FIT-OUT COST GUIDE
This guide provides a holistic picture of how various geography and fit out decisions can affect your bottom line. Fit-out costs can vary greatly based on the scope and requirements of the user. The costs typically include:
Hard Costs
- Preliminaries
- Builders works
- Audio / Video (AV) & Data Installation
- Mechanical & Electrical (M&E) works, including safety
Soft Costs
- Design
- Architecture
- Engineering
- Project Management
- Consulting
Furniture, fixtures, and equipment (FF&E)
- Audio/video installation
- Security costs
- IT and technology costs.
AVERAGE FIT-OUT BREAK DOWN
FIT-OUT COSTS | 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).
Costs are typically quoted and assessed on the net square footage of the space and for Class 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). Find out how much net square footage space you might need with our office space calculator.
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 fit-out 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.
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 QUOTATION & OFFICE TEST FIT
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