Partner Article

Why refurbishments are reason for optimism

By Mark Rapley, General Manager, Wilkinson Maintenance

While the commercial construction sector is in the doldrums and looks likely to remain there for some time yet, the market for office refurbishments is becoming increasingly buoyant.

The value of new orders for offices has fallen by around 80 per cent between the peak of the boom in the second quarter of 2007 and the second quarter of this year, according to the Office for National Statistics (ONS.)

Demand for office space is still keen however, as businesses cater for their expansion needs and occupiers want to fit more people into their office space to cut costs and to reduce their carbon footprints. Demand for refurbishment is at the same time increasing, particularly outside London.

Wilkinson Maintenance, which carries out office fit-outs nationally, has experienced a growth in refurbishment projects. Professional services companies in particular are choosing to move to new offices as their leases expire and new landlords offer rent-free periods in new buildings to attract them.

Buildings were often built in the last boom and now need a revamp, so imminent expiry of their occupier’s lease provides a good opportunity to carry out the work. Projects need to be delivered flexibly by contractors taking into account the current market, which demands a quick turnaround.

Some of our major recent projects have been focused on refurbishments that require a quick but high quality turnaround. Demand for urgent re-fits has also been buoyant due to the recent very poor weather which has seen many of our clients in the licenced trade especially undergo repeated refurbishments.

So, overall, the commercial refurbishment sector is healthy and robust and looks likely to continue to be so as the economy continues its journey on the road to a full recovery.

This was posted in Bdaily's Members' News section by Wilkinson Maintenance .