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Space Planning: How Much Office Space Do You Really Need?

Last updated:
Jun 11, 2024
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Commercial Real Estate

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Tenant CS
Tenant CS
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For commercial tenants, re-evaluating their office footprint raises tricky questions: How much space is necessary? What layout, services and amenities are important to staff? What's their ideal location? What's the budget? How can they encourage a return to office?

That's where workplace strategy comes in.

Workplace strategy helps decision-makers hone in on the "why" before jumping ahead to the "what" and "how." It's the first (and most crucial) step in extracting real estate savings.

Here's what to consider:

1. Current space utilisation

Start by conducting a thorough space audit to understand how the existing space is being used, the blend of work activities and the storage and tech requirements.

It's best to engage a workplace consultant to conduct a workplace occupancy study. This will help identify opportunities to optimise the space, reduce square meters, and create a work environment that aligns with one's work style.

2. Future requirements

It's important to anticipate the future needs of the organisation by considering:

  • Where they see the business
  • Evolving work styles
  • Potential changes to workforce size and composition
  • Business growth and expansion plans
  • Incorporation of new technologies

3) Workforce needs and preferences

Enlist the help of a workplace consultant who will conduct surveys or focus groups to help you understand work styles, job functions, collaboration requirements, technology needs, and desired amenities.

4) Budget

Get a clear understanding of the budget and limitations from the outset by considering:

  • Lease costs and fit-out expenses
  • Furniture and equipment
  • The cost of investing in specific technologies
  • Ongoing maintenance
  • Operational costs

5) Business objectives

Work with key stakeholders to identify the specific objectives that the workplace strategy should support, such as fostering collaboration, improving employee well-being, accommodating future growth, creating a flexible and agile work environment, showcasing the brand or encouraging a return to the office.

6) Current lease terms

Getting across the terms of your existing lease (such as lease duration, renewal options, subleasing or assignment provisions, and restrictions on alterations) will either enable or hinder workplace strategy implementation. So, stay aware of hidden limitations from the get-go.

7) Partner with a tenant rep

Whether you're looking to refurbish an existing space or fit something new, a tenant rep can help you determine the space you require - breaking down your needs, goals, budget, and company culture and aligning your space with your business strategy. A tenant rep also has access to valuable third-party resources and expertise that you might not have in-house and will connect you with fit-out professionals who can assist you with your workplace strategy and design. 

At Tenant CS, we understand the costs that come with poor workspace design and that there is no one-size-fits-all approach. From site selection to move-in, we coordinate the leasing process to ensure timely and budget-friendly outcomes that are tailored to your unique needs.

Book a call with our team to find out how we can match you with your perfect space.

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