If you’re in the process of trying to find a new home for your business, you’ll know there are more types of office space available than ever before.
When it comes to deciding on the right office fit out, landlords traditionally offered two types: Cat A and Cat B. However, in recent years a third option has entered the mix: Cat A+.
But what actually is Cat A+ and what are the benefits?
Cat A+ is a new phenomena in the office space industry and has caused a bit of a storm.
Traditionally a landlord would provide an almost empty space and leave you to complete the office fit out yourself. With Cat A+, landlords are now doing the fit out for you.
In theory, this means renting out a plug-and-play space but with a more traditional length of lease. This offsets a tenant’s capex costs into op-ex costs.
Cat A+ has been a big disruptor of traditional leasing practices. Tenants seem to love it and I think landlords do too.
So what are the benefits to the tenant? Time and cash flow are the two obvious ones.
Fit outs take time. They can be worth it but there’s no doubt they are a bandwidth stealer that can distract a team from their day job.
Decisions from fabrics of chairs, to wall colours and audio visual solutions are vital to a successful project but can be taxing and distracting in equal measure.
A Cat A+ fit out relieves you of choices and decisions. This in theory gives you time back from your office move journey. In reality though, very few spaces are truly plug-and-play. However, most are close enough, saving significant time.
Bad cash flow is a business killer. The Cat A+ model in theory spreads your costs against the lease length, avoiding any kind of large expenditure.
An office relocation is probably the singular most expensive item a business will undertake in a year. Cat A+ removes that burden, allowing you to pay over 3 or 5 years. The general quality of these spaces is usually entry to mid level, but that’s good enough for most. Visually, they are generally aesthetically pleasing and on trend.
If you would like to discuss your office move further and understand what category of space is right for you, let us know.