Budgeting & Financial Control

THE MARIS METHODOLOGY:

THE TOTAL COST MODEL

At Maris, we do not provide a quote; we build a commercial roadmap. Our methodology ensures that every penny is allocated before a single wall is demolished.

We break the budget down into five distinct categories to ensure nothing is missed:

1. The Construction Sum (The Hard Costs) This covers the physical works: strip-out, partitioning, M&E upgrades, and finishes

Maris Benchmark:
A basic refresh typically runs £40–£60 per sq ft, while a high-spec overhaul with full M&E replacement can exceed £100+ per sq ft.

2. The Logistics & Decant Pot (The Refurb Premium)

Unique to refurbishment, this covers the cost of moving people. It includes:

• Swing Space: Creating temporary workspaces.
• Move Management: Crate hire and weekend labour for shifting teams between zones.
• Protection: Investing in heavy-duty protection for lifts and lobbies to prevent damage to the landlord’s assets.

3. The Technology Layer

Often excluded from construction tenders, this includes active IT equipment, server room cooling upgrades and AV hardware.

The Trap:
Buying a 4K screen is cheap; integrating it into a legacy wall with new cabling is expensive. We budget for the integration, not just the hardware.

4. Furniture (FF&E)

We audit what can be reused (Circular Economy) and what must be bought new. Reusing task chairs and storage can save 15-20% of the total budget.

5. Risk & Contingency

In a new build, 5% contingency is standard. In a refurbishment, we recommend 10% at the design stage. Old buildings hide secrets – capped pipes, asbestos, or non-compliant wiring – that only reveal themselves during strip-out.

THE CFO’S CORNER:

VALUE ENGINEERING & TAX EFFICIENCY

If the initial cost plan exceeds the envelope, the answer is Value Engineering (VE). This is not about cutting quality; it is about “Smart Swaps.”

• The “Smart Swap”: Specifying a bespoke joinery wall is expensive and slow. Swapping it for a modular system with a high-end veneer achieves the same aesthetic for 30% less cost and is faster to install.
• Targeted Spend: We prioritise spend in “high impact” zones (Reception, Social Hubs) and value engineer the “low impact” zones (back of house corridors, print areas).
• The Tax Lever (Capital Allowances): Refurbishment is a prime opportunity to utilise the UK government’s “Full Expensing” regime.
• The Opportunity: Replacing old, inefficient air conditioning or lighting with new plant often qualifies for 100% first-year tax relief.
• The Impact: A £1 million refurbishment might contain £400,000 of qualifying plant machinery. This could translate to a £100,000 cash saving on your Corporation Tax bill. We work with specialists to code our invoices to maximise this claim.

MARIS TOOLS:

THE “HIDDEN COSTS” CHECKLIST

When reviewing your internal budget, ensure these refurbishment-specific line items are included.

• Decant Logistics: Cost of crates, movers and temporary IT setup for swing spaces.
• Out-of-Hours (OOH) Premium: Will noisy works need to be done at night/weekends? (This attracts higher labour rates).
• Dilapidations on Swing Space: If you are renting a temporary office nearby, have you budgeted for its exit costs?
• Storage: Off-site storage for furniture during the re-carpeting phase.
• Statutory Fees: Planning permission, Building Control fees, and the Landlord’s “Monitor” fees (the surveyor they hire to check our work, billed to you).