Costing Guide

Key Updates and Assumptions

To provide a clear baseline, these assumptions underpin the cost guide:

Scale and Scope
Our projections are based on medium-scale projects, with scalable multipliers for different project sizes, ensuring relevance for various project dimensions.

Quality Benchmarking
Grade-A finishes are explicitly detailed in the appendix for precise quality comparisons and adjustments.

Cost Inclusions and Exclusions
We outline what is included in the costs, providing a guide for estimating additional features like custom furniture or advanced technological infrastructures.

Regional Pricing Dynamics
Our data reflects not only geographical locations but also local economic trends, supply chain variations and regulatory impacts, offering a nuanced view of pricing dynamics.

Temporal Validity
Costs are anchored to Q3 2023, with a forecast model to project future cost escalations based on historical and predicted economic trends.

Base Date for Pricing
The base date for our pricing data is August 2023, ensuring that the guide reflects the most current market conditions, including material costs and labor rates.

Location and Condition of Buildings
We continue to assume that buildings are centrally located and leased in shell condition (CAT A), with costs based on a complete build-out for the tenant’s specific needs (CAT B).

Currency and Exchange Rates
All prices are presented in USD, with exchange rates accurate as of August 2023, to maintain global consistency and comparability.

Infrastructure and Design Assumptions
We assume that the base build and CAT A infrastructure are adequate for the intended fit-out. The design is generic and does not factor in cultural, country-specific or local regulatory differences.

Technology and Moves Costs
These updated costs reflect current trends and advancements, accounting for regional differences.

Sustainability and Compliance
The guide now incorporates sustainability and local regulatory compliance, acknowledging the growing importance of green building practices and their cost impact.

Market-Specific Updates
Enhanced focus on market-specific trends, including supply chain issues and labor market dynamics, provide insights into regional cost influences.

These assumptions and methodology form the foundation of our guide, ensuring that users have the most accurate, relevant and actionable data for fit-out projects.

2b. Floor Layouts

In this guide, we present floor layouts that reflect the real trends we observe with our clients, particularly in further adapting to a post-COVID work environment. These layouts are designed not just for functionality but also for future-proofing workspace needs.

The floor layouts in this guide represent a 1,985-sq.-m (21,356-sq.-ft) space.

Activity-Based Layout

This layout emphasizes flexibility for various activities and incorporates personal space for focused work.

Figure 1: Activity Space Floor Layout

Team-Based Layout

Focused on collaboration, these areas are designed to support teamwork in an effective, flexible manner

Figure 2: Team Space Floor Layout

Event-Based Layout

This layout accommodates more dynamic spaces like town halls and meeting rooms, adaptable for various events.

Businesses often opt for a combination of these styles to best suit their operational needs. All three specification levels—low, medium and high—are applicable across these layouts.

Figure 3: Event Space Floor Layout

Space Visualization

Utilizing breakthroughs in space-visualization technology, this edition includes immersive 3D environments created with CBRE Build 3D. This tool enhances the user experience, allowing stakeholders to navigate and visualize spaces with unprecedented ease and engagement.

Build Specification Levels

Low
Utilizes existing landlord builds for fittings like ceiling arrangements, coupled with basic furnishings. Ideal for clients with lower CAPEX or those looking for a simple refresh.

Medium
Offers a budget-conscious upgrade, incorporating bespoke design elements while retaining much of the existing layout. Suitable for standard office spaces.

High
Features the highest quality in furnishings and bespoke design details. This level is particularly suited for headquarters or client-facing offices, where impression and functionality are paramount.

2c. Furniture/Work Fluidly

The concept of Work from Anywhere has transformed the traditional office into a collaborative and socially engaging space. To foster creativity and innovation, furniture must support both high-focus work and restorative activities.

Each theme influences how furniture is selected and arranged, impacting overall fit-out costs. Our guide includes detailed costs for furniture, factoring in professional and installation fees, and freight charges. These costs vary by region but are generally consistent within each region. The selection of furniture based on the above themes can significantly influence these costs, with varying degrees of investment required for different specifications and layouts.

2d. Technology & Security

Audiovisual systems
Innovative AV communication technology is revolutionizing in-office collaboration. While traditional environments focus on AV systems in meeting and auditorium spaces, agile workplaces integrate AV throughout to enable communication and collaboration on various platforms. Considerations for how users interact with this technology are essential in new project developments.

IT
IT installations in tenant spaces typically include structured cabling and network equipment. The growing trend toward integrated and smart buildings increases the need for network-connected IP devices. This necessitates robust IT infrastructure, with full Wi-Fi coverage and connectivity to support agile working environments.

Security
Tenant security systems, including electronic-access control and CCTV, are increasingly IP-based. This integration allows for streamlined administration and the potential to interface with other IP-based systems, contributing to the development of smart buildings.

Workplace Technology
The Workplace Technology Services (WTS) team is responsible for the successful management and coordination of all technology vendors/solutions. These teams work regionally with clients to establish appropriate technology solutions. The WTS scope of responsibility covers design elements, planning, procurement, construction and commissioning phases of the project. For this Fit-Out Cost Guide, the WTS team has taken the low, medium and high spec of the design as a client’s requirements and costed in-country to determine a per sq. ft. figure.

WTS focuses on the integrated delivery of technologies in the workplace to drive digital transformation and create a seamless employee experience. WTS teams bridge the gap between Real Estate & IT departments, delivering product-agnostic solutions as the Single Point of Contact for all workplace technology scopes.

Understanding Workplace Technology Costs
Workplace technology, encompassing audiovisual, network hardware, access control and surveillance, is critical for modern office functionality. Our guide factors in these technological advancements, providing cost estimations for varying specifications.