European Investor Refurbishment Cost Guide June 2021

Refurbishments are an important part of an investor’s real estate strategy.  They contribute to improving asset quality, boosting value and rental growth, and to securing long-term leases.

At this stage in the real estate cycle, decisions on whether to refurbish and how to go about it are taking place in an environment changed by the COVID-19 pandemic and are resting on assessing complex criteria, including costs. 

This Refurbishment Cost Guide is a vital starting point and can aid the early-stage assessment of potential refurbishment options and budgets. The report provides consistent benchmarking rates for various grades of refurbishment of commercial office space across 15 of the top European cities. We have reviewed developments of varying size, specification, and complexity.