Commercial Renovation

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Commercial Renovation 2017-05-19T12:41:29+00:00

Making or Breaking It with Commercial Renovation

Commercial renovation in Singapore is crucial but costly. Unless you’re running an “everything must go” shop or a car hire-purchase office in an ageing mall, you won’t be skipping the renovation altogether or skimping on the fittings.

The average cost of mid-range renovation work on a commercial space of 1,000 sq ft space is S$65,000 – it can be as low as S$35 per sq ft if you’re doing just basic works.

Savvy bosses and shop owners know how significant the impact of the space can be on their business, and will negotiate for some remodelling to be done by the landlord before signing the lease. Any renovation that comes after will be at their expense – and in accordance with the landlord’s terms and conditions, naturally.

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RETAIL THERAPY

The effect of good design is especially important in retail. Having your store turn off your customers is a sure way to turn them into your rival’s regulars.

The look and feel of your shop influences shoppers’ judgement of your merchandise more than you know. It doesn’t matter if your jewellery is as impressive as Swarovski crystal if it’s displayed under cracked glass.

It takes potential customers 90 seconds on average to decide whether they’re going to whip out their wallet and if they’re going to return to your shop, and the look of your store is a huge factor in that judgement. And, according to the CCICOLOR – Institute for Color Research, 62 to 90 per cent of those customers will make that judgement based on colour alone.

Those who specialise in shop renovations, or who make it their business to know hotel renovation inside out, will be able to advise you on the latest trends, while the very best interior designers will be ahead of the trends and could deliver fresh concepts and retail space strategies.

The restaurant renovation scene is especially competitive, with artisanal coffeeshops all the rage now. Singaporeans have always been avid foodies, but with their developing more global palates, the restaurant scene has been booming with more upmarket restaurants opening in the past five years than in the previous decade.

Remodelling your store may mean having to close shop for a week or two, but retail renovation sends a subtle signal to your customers that you’re in it for the long haul, a brand on the rise, unlike the fly-by-night business next door that’s had a “closing down sale” banner on display for the past year.

The layout of your shop is another important influencer. You need only look at how big retailers and grocery stores to see how they’ve designed their spaces to encourage impulse spending.

While you may be able to live with the same look in your home for decade or two, you might as well replace your store sign with “behind the times” if you adopt the same approach with your store or restaurant.

WORKING IT

  • Walk into the Singapore offices of a multinational corporation and you’ll leave wishing that you worked there.
  • Far from being merely functional factory floors for employees, successful companies’ modern offices win clients (and potential hires) while energising their staff.
  • Receptions aside, office space planning is more than about impressing clients. The functionality of the space is of primary importance, and a well thought-out layout of workspaces can boost productivity, while a poor one will make staff feel like caged animals.
  • Office partitions are still an essential for any office here, but you might want to take a cue from cutting-edge offices which are phasing out traditional cubicles in favour of encouraging mobility with “hot desks”, which any employee with a laptop can use when they’re not out in the field.
  • Building renovation is only necessary if your company is large enough to own the brick and mortar. Otherwise, most offices in Singapore available to lease come with the standard fittings, including central air-conditioning and basic light fittings, but are otherwise blank slates.
  • What you do with that space is up to your ambition, and how much A&A (addition and alteration) work you wish to do.
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