Its time to think budgets - Plan to invest in your workplace and your team this financial year.
Its time to think budgets - Plan to invest in your workplace and your team this financial year.
As the end of the financial year approaches, businesses should be thinking about their work environment; Are you getting the best out of your office and team?
Your workspace is a reflection of your company culture and values. Investing in your workplace shows your team you care, can enhance productivity, and help attract the right talent.
Whether you’re planning a new fitout to right size your office, provide additional functionality, upgrade technology or to beautify your space, understanding fitout cost can help your organisation set a realistic budget and avoid surprises this financial year. Setting money aside in your budget ensures that when the time comes, your able to carry out any works required to get the best out of your business.
Budgeting for Future Fitouts
Leasing terms and renewal rights can impact your office fitout strategy. Businesses should consider:
⌛ When their lease is up and whether they plan to renew, downsize, or expand.
💭 Whether their current space meets their needs or if changes are required.
💸 How to fund a fitout, whether through capital expenditure or lease incentives.
Understanding these factors early allows businesses to plan strategically and allocate funds for workspace improvements as needed.
The Benefits of Early Budgeting
Waiting until the end of a lease isn’t the only time to invest in workplace improvements. Budgeting for fitouts and enhancements throughout the year can help businesses:
🌟 Improve workspace functionality to better support employees.
🌟 Attract and retain talent by creating a desirable work environment.
🌟 Support evolving needs, such as quiet focus spaces or collaborative areas.
🌟 Ensure long-term cost efficiency by planning for gradual improvements rather than last-minute overhauls.
Avoid surprises this financial year. Understand your lease.
Understanding your make-good liabilities and end-of-tenancy requirements.
Some leases include make-good obligations which require tenants to return the space to its original condition or remove certain elements of a fitout when the lease ends. This can range from minor make good to a full removal of your fitout back to open plan configuration.
Without proper understanding of your obligations you can run into unexpected budget blowouts. Catalyst can help businesses understand their make-good requirements early, providing cost estimates and guidance on planning for these obligations well in advance so you can accurately accrue for these costs.
How Catalyst Can Help
At Catalyst, we provide comprehensive support for workplace planning and budgeting, including:
⚖️ Understanding Your Options
Whether you’re considering downsizing, expanding, or reconfiguring your space, we help identify the best solutions for your business.
💰 Providing Budgeting Support
We offer feasibility budgets to help businesses forecast costs and plan their investments effectively.
🎯 End-to-End Project Management
Our team can handle your entire fitout or workspace enhancement project, providing a seamless experience with a single point of contact.
With Catalyst’s expertise in these key areas, you can be confident that your workspace will not only meet your needs today but will also evolve with your business.
Reach out to our team today to start planning for the future today:
Grant Heighway | Director
📬 [email protected] | +64 27 294 6254
Lewis Watson | Associate, Project Delivery Team Lead
📬 [email protected] | +64 27 425 9733
Sarah Courtney | Associate, Client Solutions Lead, Project Director
📬 [email protected] | +64 27 836 1805
Check out some of Catalyst's recent projects:
Local Wellington Government Agency
After a rigorous tender procurement process, Catalyst were honored to be awarded the Design Build contract, thanks to our strong track record in government projects, transparency in costing, commitment to timelines, and a collaborative spirit. This project for a local government agency allows our vision and expertise to converge, creating a space that reflects community values and enhances functionality.
You can read more about this project here.
Sedgwick Auckland
The Sedgwick team are over the moon with their beautiful new home. CEO, Philip van Zyl cannot speak highly enough of the Catalyst service.
“Catalyst has been exceptional - they knew how to handle the difficult conversations. With post pandemic hurdles delaying the project, Catalyst was able to manage expectations very well. They’ve been flexible, receptive to feedback and quick to provide building solutions."
- Philip van Zyl | CEO, Sedgwick
You can read more about this project here.
Gallagher Insurance Auckland Flagship Office
Gallagher Insurance, formerly known as Crombie Lockwood, were keen to get their Auckland central teams working from one flagship office, having been in two central city locations for many years. This required a complete refit to accommodate both locations and various functional teams together and also presented a perfect opportunity to showcase the planned rebrand to Gallagher.
You can read more about this project here.
