The three scopes and their bands
| Scope | Indicative cost per m2 | Who typically bears it |
|---|---|---|
| Shell and core | EUR 1,200 - 1,800 | Owner or developer |
| Interior fit-out | EUR 850 - 1,600 | Tenant, or owner as an incentive |
| Reinstatement at lease end | ~EUR 135 | Outgoing tenant |
Shell and core is the container: structure, envelope, primary services, circulation cores, finished common areas. It delivers open floors, ready to host any layout. The fit-out is the interior work: partitions, ceilings, raised floors, secondary services, data cabling, technical furniture. Reinstatement is the contractual return to original condition at handback, an item tenants often discover after signing.
The 2026 references for fit-out in Italy's two main markets place Milan and Rome on aligned figures: around EUR 850 per m2 for basic-level fit-outs, EUR 1,250 for the mid band and up to EUR 1,600 for executive level, inclusive of building works, services, furniture, audiovisual and IT integration and professional advice. In the European comparison Italy sits in an intermediate position, above Spain and appreciably below Germany and the United Kingdom.
Where fit-out cost concentrates
The composition of the fit-out budget has changed deeply over the last cycle: mechanical, electrical and technology components (climate control, electrical distribution, security, IT and audiovisual) now stably exceed 40 per cent of the total, while traditional building works weigh proportionally less than in the past. The reasons are structural: increasingly complex supply chains, long lead times for specialist equipment, copper price volatility, growing demand for smart building technology.
The operational consequence is clear: the services and technology specification must be defined first, because it is the part of the budget where offers diverge most and where delivery times drive the programme. A fit-out planned without checking the lead times of air conditioning units or AV equipment starts already late.
The variables that move an office budget
Workstation density. More workstations per m2 means more services, more treated air, more cabling: density is a cost multiplier before it is a layout choice.
Certifications. The sustainability and wellbeing protocols required by investors or corporate tenants add requirements on materials, monitoring and commissioning, worth a few percentage points of budget and constraining design from the outset.
The state of the building. A fit-out in an existing building meets primary services needing upgrade, reduced clear heights and structural constraints that a new building does not impose; that is why office refurbishment costs have risen appreciably in recent years.
Future flexibility. Designing for later reconfiguration costs more now and much less at the first reorganisation: a multi-year business case decision, not a site one.
Budget example: 600 m2 floor, mid-level fit-out, 48 workstations
| Item | Calculation | Amount |
|---|---|---|
| Building and services fit-out | 600 m2 × EUR 1,250 | EUR 750,000 |
| of which mechanical, electrical, IT components | ~42% | EUR 315,000 |
| Professional fees and project management (10%) | EUR 75,000 | |
| Total | EUR 825,000 | |
| Cost per workstation | 825,000 / 48 | ~EUR 17,200 |
The cost per workstation is the metric the occupier's business plan actually recognises, and the only one that allows proposals with different densities and levels to be compared. Two fit-outs at EUR 1,250 per m2 can produce very distant costs per workstation if one provides 40 workstations and the other 60.
Note: the figures shown are 2026 orders of magnitude for the Italian market, for guidance only, based on published market references for Milan and Rome. Every project requires a specific estimate based on a bill of quantities.