Industrial property has some common factors that will make the property prime and much more attractive to most tenants. It is important to know what the most common and desirable factors in an industrial property are:
- Proximity to good road and highway access. Consider the types of deliveries that will be coming and going from the property. How far away from the main freeways is the property located and can large trucks get to and from the freeways easily?
- Abundant labour supply is fundamental to the function of any industrial business. You should identify where the labour supply will come from and how they will get to the property. Remember that the access to the property may be necessary at any time of day for the staff and labour. Could any nearby public transport be of some use?
- Car parking on the property is a premium and high priority for many businesses today. When the staff arrive at the property by motor vehicle is there sufficient parking for the staff without interfering with customer car parking and truck access?
- Availability of extra land and hardstand area on the property is important to some businesses. The storage of materials, containers, and machinery is a critical issue for many industrial businesses.
- Proximity to harbour and air ports may also be critical for some businesses.
- Rail transport hubs for large and heavy goods transport should be known. If heavy goods are to be transported to and from the property, much of that transport will firstly be on the rail system if it is available. The distance from the rail system to the property will be bridged by trucking. The shorter distance the trucks have to travel from the rail hub, will help the business with operational costs. Areas such as Epping. Montague Gardens, and BellvilleSouth have rail sidings that are still used today.
- Services at the property should include water, three phase electric power, tar roads, telephone lines and internet access. All businesses today need these services as a minimum to remain operational and competitive.
- Proximity to raw materials should be known. This will be specific to the business in question, although the answer should be considered. Can the raw materials that a business needs be accessed easily and how will that be done?
- Onsite improvements are important based on the business to be located there. The improvements will include modern and flexible office space, high floor to eaves warehousing, and hardstand storage. With industrial property the focus is generally on production and hence the warehouse design, layout, and size will be critical to the business function. Large trucks should be able to be directly loaded and unloaded in, from, or to, the warehouse. Double handling of goods to the warehouse is not practical and is expensive.
- The zoning of the property will have relevance to the type of business that can operate from the property.
- Area for future expansion on the property is always desirable. A successful industrial business will want that space at some future time and relocation costs are high. Knowing that the property could provide expansion of improvements and operational capability for the occupant is an advantage.
- Proximity to associated businesses is sometimes important. Knowing that access is easily available to suppliers will keep costs down for the property occupant.
