With business needs clearly defined and a building selected for renovation,
decision-makers should proceed with the development of design and facility objectives.
Questions to ask include:
How much space will we need?
What will our business be?
What deliverables will we produce?
Who will our customers be?
How will we communicate?
How will technology impact the workers?
How will space support the technology?
Can the infrastructure support increases and decreases in the workforce?
Will workforce needs change?
What will be the financial considerations?
What are tax liabilities likely to include?
Will depreciation limitations prevent efficient renewal?
Will the day-to-day churn rate change?
Flexibility, speed, and cost often emerge as the top objectives. If, for example,
a developer seeks to lease space after renovation, long-term flexibility will
top the priority list. If the renovator seeks to occupy the space to meet business
deadlines, speed will drive the fit-out strategy. If the renovator is also the
sole tenant of the building, cost and tax considerations may be a top concern.
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