Everything you need to know about fitting out is here. But first, what is are fit outs? It refers to the act of converting interior spaces into areas ready to be occupied. Usually, the term is used in developing interior office spaces.
The site developer finishes the base construction and the space becomes ready for occupancy. The developer then becomes the landlord or hires one to lease the space to tenants. The tenants are then the ones who will be doing final fit outs of the area.
What comprises the base construction? It is typically the shell and core of the building. For instance, staircases, lifts or loading bays may be included. If needed, reception areas and parking spaces are allotted. Toilets are a requirement too.
What are the different categories for fit outs? There are only two categories, A and B. Category A refers to the level of fitting out wherein the developer already fulfils to completion the area space. The developer can already include surface finish, completed ceilings, and blinds. He may also choose to offer his mechanical and electrical services.
Does the tenant have a say to the final look of the interior space? It depends on the developer if he allots the time and money to make the necessary renovations catering to the preferences of the tenant. Certainly, they can make adjustments depending on their transaction.
Meanwhile, Category B describes the level of fitting out wherein the tenant is the one to complete the final fit outs. Depending on the intended use of the space, the tenant may opt to put the following equipment. He can install special lighting for designated areas. He can put up audio visual equipment in rooms. He can install kitchen areas for home or office use. He can also place furniture if he needs to. Facilities can be modified accordingly depending on the use of the room. For instance, meeting rooms can be placed with the required audio visual equipment and office chairs and tables. Conference rooms and board rooms may also be fitted out.
Now that Category A and Category B have been explained, let’s proceed with turnkey developments. Turnkey developments help offer spaces finished by the developer to tenants looking to move in readily. Turnkey developments may be vague so there is a necessity for a clear contract documentation. In the contract, stated are the tasks to be done and the party who will be bringing these tasks to completion. Through this, ambiguous terms are avoided and costs are handled accordingly.
What are included in the lease of agreement between the landlord and his tenant? The contract must clearly define the inclusions of the shell and core. Take for example, are emergency generators or continuous power supply provided for? The contract must also state the category of fit out. If it is a Category A fit out, the amendments installed by the tenant compared to what is originally finished by the developer must be written down.
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