If you're thinking of buying an industrial property to expand your commercial real estate portfolio, there are many aspects of such a purchase that are the same, but some that also make this kind of building unique in the investment realm.
With that in mind, you need to enter the process with a firm knowledge of what differentiates a good industrial investment opportunity from one that might not quite be worth your time. That includes the following:
Perhaps the biggest consideration you need to make when it comes to industrial properties is how close it is to highways, railways and other critical infrastructure. Industrial companies tend to need easy shipping, but also easy access for employees so they don't have to go through a long, difficult commute every day.
Industrial companies come in all shapes and sizes, and the sheer range of work they can do – from simple warehousing to advanced manufacturing – is significant. You need to invest in a property that allows for any kind of operation, or can be changed to suit a new tenant's needs as time goes on.
Likewise, it's important to make sure your facility has modern amenities, or could be easily upgraded to encompass them. Because industrial companies have all kinds of different needs, they will expect to be able to move into a space that's suited to them on Day 1. If you're not able to make those upgrades, you may not see the kind of interest in such a space that you'd want.
Finally, the more you can do to make life easier for your tenants, the more interested they are likely to be. That could include having more doors for your loading bay, ample office space adjoining the job floor, added security, newly paved parking lots and so on. Some of these features may be more attainable than others, but in any case you should explore all possible options for upgrades.
When you want to expand your commercial portfolio, it's important to have an expert in your corner. The professionals at Ray White Surfers Paradise can help you achieve your investment goals with the exact right property for your needs. Get in touch with us today.
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