2024 Retail Fit Out Cost Guide

GCs continued to see some material lead time delays, based on Cushman & Wakefield’s sentiment survey. A third experienced slight (25%) to significant (9%) delays in the last six months. One in 10 saw some loosening in these material lead times, and that optimism extends to the next six months. The majority (75%) of GCs expect material lead times to remain the same in the next six months, while 12% expect them to decrease slightly. However, since lead times are already extended, an expectation of status quo means that they are overwhelmingly expected to remain longer than pre-2020.

KEY TAKEAWAY

Lead times for some systems remain extended,

which may be a “new normal” for projects.

However, the worst may be behind us, as lead times for components and materials are unlikely to grow longer than they were at the height of the pandemic.

Project execution times, which are already extended, are expected to remain unchanged (89%) in the next six months.

PROJECT EXECUTION TIME IS NOT EXPECTED TO SHORTEN CUSHMAN & WAKEFIELD CONSTRUCTION CONTRACTOR SENTIMENT SURVEY, FALL 2023

Decreased Significantly Decreased Slightly No Change Increased Slightly Increased Significantly

100%

4%

9% 4%

9%

11%

12%

80%

25%

60%

75%

89%

84%

40%

58%

20%

12%

9%

0%

Material Lead Times Project Execution Time

Material Lead Times Project Execution Time

PAST 6 MONTHS

NEXT 6 MONTHS

Source: Cushman & Wakefield Research

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Cushman & Wakefield