Relocating offices can provide various benefits, whether it's moving to a better location or cutting down on business expenses. It also provides a new environment for employees to work in, stimulating fresh ideas and work styles.
This article will provide a rundown on the 11 benefits of moving to a new office and how it can impact your business’s growth.
1. Lower Costs
One of the main benefits of moving to a new office space is that businesses can find more cost-effective workspaces, saving substantial amounts of money in the long term.
Landlords are always keen to negotiate deals, sometimes involving incentives such as reduced rent or flexible lease terms. Due to the rental market's competitive nature, businesses can often negotiate better terms to suit their requirements.
2. Better Location
Another benefit to relocating is access to a better location that offers easier commutes and more local amenities.
Places with many green spaces and dining options, such as Bloomsbury, are likely to improve employee satisfaction as they provide things to do during breaks. Access to a variety of dining options makes client meetings and team get-togethers easier as they are near the office.
Areas like King’s Cross, St Pancras, and Paddington offer unrivalled transportation and connectivity across London, the UK, and other parts of Europe. Relocating can reduce commute times for employees and clients travelling into the area.
3. Improved Networking Opportunities
If you’re interested in significantly enhancing your networking opportunities, consider relocating to an area specific to your industry, as they offer frequent meetups.
Shoreditch and Old Street are highly popular with tech companies. Many well-established organisations, such as Facebook and Google, have invested in the area. Their presence attracts a high concentration of tech professionals, increasing the frequency of events and conferences.
Various insurance companies and banks are located in Canary Wharf, making it an excellent location for other financial institutions to relocate to. Businesses near industry-related organisations can keep up with the latest trends and developments.
Organisations specialising in marketing and advertising may want to consider renting offices in Fitzrovia. Its central location attracts like-minded talents from creative industries, boosting brand exposure for businesses renting workspace there.
Those looking to improve brand awareness may want to rent office space in areas with high footfall. Leicester Square and Piccadilly Circus are extremely popular with both tourists and locals. Businesses renting workspace in these areas experience a lot of indirect exposure, attracting new customers.
4. More On-Site Amenities
Another benefit of moving to a new workspace is access to more on-site amenities.
Newer offices provide various on-site amenities, such as cafes, which are excellent places for informal meetings. These spaces can be used by employees to meet with clients for casual conversations, reducing the pressure of hosting a formal meeting.
Other amenities include on-site gyms that offer wellness sessions for mindfulness. These sessions often focus on stress management, yoga, and meditation. Workshops like these promote a healthy work environment.
Some offices even offer a games room, which is an excellent space to host team bonding activities. This can help break down barriers and foster relationships between employees, reducing stress and improving teamwork.
5. Better Technology
Relocating to an office with updated technology can significantly enhance work quality. Businesses are now more dependent on technology than ever, leading to digitised workspaces.
Access to better technology, such as videoconferencing facilities, collaboration tools, and presentation equipment, has made meetings more efficient and effective. These tools offer real-time communication for professionals in and out of the office.
Similarly, smart building features and energy-efficient systems are great as they offer companies more control over their workspace environment, including temperature and lighting automation.
6. Boosts Productivity and Morale
Moving offices is a great way to provide a change of scenery. It can stimulate different ideas and perspectives, which can significantly boost morale and reduce complacency.
Staff members are also encouraged to adapt to new challenges and ways of working, improving performance and productivity.
7. Larger Office Space
Larger offices create a pleasant environment, giving employees more space. These workspaces feel more comfortable and allow staff to personalise and decorate their desks.
They also reduce the risk of contagious illnesses. By renting a larger office, you can minimise the number of sick days your employees take, allowing your business to operate more smoothly.
8. Personalised Fit-Out
A great benefit of moving to a new office is that it allows you to customise the space completely.
If your company’s needs have changed and you are looking to expand, you may want to add dedicated facilities like meeting rooms and spacious kitchens. Breakout areas and informal lounges are other great spaces.
Moving to a new office makes adding these facilities much easier and lets you adapt quickly to your new requirements.
9. Encourages Growth
High-quality facilities and a new work environment can lead to significant business growth. Staff with access to high-quality equipment are happier, feel more valued in their daily tasks, and are more productive. Relocating offices makes it much easier to support your staff.
Similarly, customising your new office to match your business needs can boost employee collaboration, encouraging growth.
10. Can Incorporate New Work Styles
Moving to a new office allows you to experiment with different work styles and determine which suits your business best. This is great because if you find that you, for example, prefer hybrid working, you can downsize and save even more money.
Another work style you might want to consider is hot-desking, which can make your office more flexible and facilitate collaboration by allowing employees to work from any desk.
11. Improves Sustainability
If you’re looking to become more sustainable, we recommend you move to an office with energy-efficient features.
Smart offices with green features can significantly reduce your business’s carbon footprint. These workspaces use sustainable materials, have better insulation, and reduce waste.
When choosing a sustainable office, look for one with a high EPC rating. This ensures that it is energy efficient. In addition, consider one with a space-efficient layout, as this can reduce the size you need, further decreasing your carbon footprint.
Relocating can boost business productivity and growth. Whether it's having access to more on-site amenities or improved networking opportunities, moving to a new office can significantly elevate your company and transform your work environment.
