An industrial property is an essential part of many businesses, and choosing the right one can have a big impact on the success or growth of a company. Factors such as warehouse size, location, cost, and more can determine whether the property you’re looking at will help you meet the business goals you’ve set.
Like with any other commercial property, you should think carefully about where your business currently stands and where you see it going in the coming years before deciding on an industrial property. This stops you from making a decision that could cause problems or stop your business from reaching its full potential within your current plan.
Given how important industrial property is to many industries, we’ve taken a look at some of the factors that you should consider when deciding on which site to choose.
What Is An Industrial Property?
Industrial properties are designed and built for different uses than other properties. Much like residential properties are for living in, and commercial properties are for revenue generating activities, industrial properties are for other aspects of business. This includes producing goods, storing them, completing processes, and readying items for delivery.
These are not revenue generating activities, but enable businesses to carry out their tasks, whether that’s deliveries, sales, running services, providing solutions, or any other number of tasks. In many ways, an industrial property is what lets properties generate their revenues from other locations, and is a crucial part of the business chain.
What Is An Industrial Property Used For?
Industrial properties can be used for a wide range of purposes, depending on the owner and the industry they work in. While it is common to think of them as warehouses used for the storage of goods meant for stores, an industrial property can also be used for:
- Light manufacturing
- Heavy manufacturing
- Research and development
- Production lines
Where the industrial property is located, what you need to do with it, and the equipment required to accomplish those tasks will determine which industrial property for sale you should ultimately choose.
What Factors Make An Industrial Property For Sale A Good Choice For Your Business?
With a clear idea of what industrial properties are, and how they’re used, we can look at the factors that determine whether a site is going to work well for your business. The basics of this choice will be the same for any property you look at, whether it’s residential, commercial, or industrial:
With this in mind, you can work to a budget that suits your situation while giving yourself the ability to grow into an industrial property without paying too much for empty space you’re not ready to use at the time of choosing it.
The Warehouse Size
Warehouse size plays a big part in determining whether that industrial property is a good choice for your business. The ability to hold a large amount of equipment or products is essential, but you don’t want a warehouse that’s too big or too small.
A small warehouse won’t give you the freedom you need to prepare for seasonal events or big sales, while a space too large will cost more than you need to pay – and you might not be able to fill such a big space anyway.
You want to leave enough room for your business to grow, and finding the right warehouse size is key to smooth business operations. Read more about getting the most out of your warehouse space.
Access To The Industrial Property
When choosing an industrial property, you should think about how easy it is to access. Check for how many entrances there are, how big they are, and how easy it will be to load and unload goods from or into vehicles. This also means there should be parking for the vehicles and space to manoeuvre them.
Access for workers and equipment is also important, so as not to disrupt the flow of goods through larger exits and ensure they have safe passage in, through, and around the industrial property. This ensures they can do their jobs properly without fear of accident or injury.
Your warehouse locations will depend on your business: whether you operate locally or nationally, where your products and goods come from, and where you need to deliver them.
Operating from a store, or group of stores, means you want your warehouses to be close enough to deliver products quickly. Operating online means your business has a potentially larger area to cover so good warehouse locations can make delivering products much more efficient. Larger companies might have multiple warehouses to make sure delivery times are kept down and to increase their storage capacity.
Good access routes to the area – and beyond – is important when choosing an industrial property for sale for your business.
The Cost Of The Industrial Property
As with any commercial property you choose, the price plays an important role when choosing the right one. It’s one of the big expenditures a business will face. Larger industrial properties in sought after locations will cost more than others, and you need to decide if this cost can be recouped by operating from that space.
Warehouse size and location both impact the cost of an industrial property for sale, but other factors can impact the price, too, such as any future developments, and access routes available (or being built).
Make sure that the cost of the industrial property doesn’t impact the organisation’s ability to operate and meet its goals, or it will take a long time to recover.
How You Will Use The Space
Warehouses are normally used to store goods, but depending on the type of items the business trades in, there might need to be equipment in place to reach or transport them inside the unit.
Vertical space is an important access, but this means products can be stored high, and having good processes in place to keep products being rotated will make it easier to access the most relevant and important items easily.
Storing equipment is another option, however, these machines need to be easily accessible whenever they’re needed. This can also impact what industrial property is right for your business.
Should You Think About An Industrial Property For Rent?
If buying a warehouse isn’t feasible, then consider an industrial property for rent as an alternative. You’ll avoid the upfront cost, and gain some flexibility in where you keep goods and products at different times.
You’ll need to plan ahead to make sure that when a lease comes to an end, you have another lined up if you’re moving to a new location, or you’ll have a lot of goods to look after with nowhere secure to keep them.
If your business is still finding its feet, then an industrial property for rent can be a smart choice as it gives you the chance to find where the best industrial property is for smooth and efficient business operations.
Find The Right Industrial Property For Sale For Your Business
Our team of experts at Williams Sillitoe know where to find the best industrial property for sale for your business. We take the time to understand you, your business, and what you’re hoping to achieve in the future before using our local knowledge of the area to find the best solutions.
We know how important an industrial property is to making your business a success, so we’ll listen carefully to what it is you’re looking for and make sure you are only told about properties that fulfil your needs. This is what sets us apart from other commercial property agents. Get in touch with the team today to find out more about how we can help you.