Written by The Bluum Team

Refurb vs Relocate: What to Consider.

Written by The Bluum Team
Grade A office space in London is disappearing fast. The good news? You don't need to find it - you can create it.

The question comes up at almost every lease event. Your space isn't quite working the way it used to, the team has changed, the way you work has changed - and someone in the room says: "Maybe it's time to move?"

It's a reasonable question. But in London's current market, it's not the most useful one. The more useful question is this: whatever we decide, are we ready to act?
262 High Holborn waiting area 262 High Holborn waiting area

The market reality

London is running out of Grade A office space. According to Cushman & Wakefield, there’s currently less than one year’s worth of Grade A supply under construction and available beyond 2025. Knight Frank projects that by 2028, the vacancy rate for prime City offices will fall to zero.

Meanwhile, demand is accelerating. Enquiries for Grade A office space rose 25% in Q3 2025, and over 80% of all London take-up is now for Grade A buildings. Prime availability in the West End sits at just 1.4%.

What this means in practice: businesses that move are increasingly moving into Grade B stock – and fitting it out to the standard they need. Businesses that stay are refurbishing what they have to the standard they want. Either way, the fit-out is the answer. The only question is where it happens.

The case for staying

Refurbishing your existing space has real advantages – and they’re worth taking seriously.

  • You know what you’ve got. Location, building management, lease terms – the unknowns are already known.
  • Your people are settled. Commutes, routines, the coffee shop downstairs. These things matter more than most boardrooms admit.
  • The economics can stack up. Refurbishment typically runs £80-£150 per sq ft depending on scope – compared to the combined cost of a new lease, full Cat B fit-out, dilapidations on your old space, legal fees, and the inevitable downtime of a move.
  • A great fit-out can transform what you have. New layout, better collaboration zones, modernised tech, improved acoustics, fresh finishes. Done well, it feels like a completely different office – because it is.

We always start by asking what's already there. Nine times out of ten, the building has more to give than people realise. You just need to know what to look for.

Bart, Co-founder

The case for moving

There are equally good reasons to relocate – and the scarcity of Grade A space shouldn’t put you off if the move is right for your business.

  • Sometimes the building really is the problem. Low ceilings, poor natural light, planning constraints, or infrastructure that can’t support what you need. No amount of refurbishment fixes a fundamentally wrong building.
  • A new space can signal a new chapter. For growing businesses, a move can energise a team, attract talent, and express where the business has got to.
  • Grade B buildings are full of opportunity. The best businesses aren’t waiting for a perfect building to appear. They’re taking good-bones space and fitting it out to a standard that suits them – which is exactly where Bluum does its best work.


The thing almost everyone gets wrong: timing

Whether you’re leaning towards a refurb or a relocation, the single most common mistake is starting the conversation too late.

A major office move – from first decision to keys in hand – typically takes 12 to 18 months. That includes finding the right space, negotiating heads of terms, designing and building the fit-out, and managing the handover. A significant refurbishment in an occupied building takes careful planning too, particularly if you’re phasing the work around a live business.

“It’s too early to think about this” is one of the most expensive things a business can say. By the time the lease event is six months away, your options have already narrowed considerably.

The projects that go smoothest are the ones where we're brought in early. Not to start building - just to start thinking. The earlier we understand what a business needs, the better the outcome, whatever route they take.

Dan, Co-founder

What to ask yourself

There’s no universal answer – and anyone who tells you otherwise isn’t listening hard enough. But these questions are a good place to start:

  • Does the location still work for your team and your clients?
  • Does the building have the bones to support what you need – or are there structural limits you can’t design around?
  • What’s actually broken – the space, or just what’s been done with it?
  • What will it cost to do nothing? Tired offices have a quiet cost: harder to retain talent, harder to bring people back in, harder to reflect where the business has got to.
  • When is your lease event – and have you genuinely left enough time?

Where Bluum comes in

In a market where true Grade A space is almost gone, the businesses winning the war for great workplaces aren’t waiting for a perfect building to appear. They’re creating one – wherever they land.

That’s what we do. Whether you’re transforming your existing space or fitting out somewhere new, we guide you through the process from vision to well-built reality. Honest about scope, clear on cost, and focused on getting it right – not just getting it done.

The decision between refurb and relocate is yours. But you shouldn’t have to make it alone – and you shouldn’t have to make it without understanding what’s actually possible.

If you’re approaching a lease event, questioning whether your space is still working, or just starting to think about what’s next – the best time to talk is now.