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Archive for December 4, 2009

Refurbishing Business Booms as Economy Looks Up

December 4, 2009, 7:38 am

The end of the recession and the change for the better seems to have boosted the refurbishing business in an unexpected manner. With many employers hiring new hands once again, the need for such services are being felt once more.

Contractors in offices to let London properties are finding an increase in requests for refurbishing work on existing office premises. The refurbishing business makes existing spaces more suitable for the needs of the residents by making significant internal changes without huge structural modifications. As new employees are being hired by employers now there is a need for optimising the use of available desk space. Leasing out bigger spaces will involve huge expense which companies are still quite wary of expending right now.

Savillis PLC undertook a survey of 200 contractors and developers recently, which revealed some interesting statistics. The last three months have been good for the office refurbishment business as new projects were beginning to come in after a steady loss of business over the previous 21 months. The international director of Jones Lang LaSalle also affirmed the trend among businesses favouring remodelling existing premises over moving to bigger accommodations.

The refurbishing project will depend heavily on the actual need of the client though. While some may require cosmetic changes to the interiors others may need a complete overhaul of the internal layout. For landlords, too, this is a cheaper option than investing in a new office complex building.

Given these statistics and trends, it is predicted by experts that the new office spaces completed within the next two years will be every few. British Land Co. believes that developments in the sector will pick up pace when rental values begin to increase.

—admin | Comments Off
(posted in the Commerce, Plugs, Realty Management category)

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