Warehouses are used to store products and goods, but they can also be used for anything else that needs to be stored and secured. Many warehouses are in Brisbane, as the city has many warehouses because of its location on the Brisbane River that leads to the ocean. If you are considering buying a warehouse in Brisbane, there are several things you need to consider before buying warehouse for sale in Brisbane. Here are the top 4 things to consider before purchasing warehouse space in Brisbane.
- Zoning laws
A zoning law restricts the land use and activities that can occur on the land. Before you purchase your new property, you should check its zoning laws for certain limitations and restrictions (i.e. about permitted hours of operation). Zoning laws may also regulate parking lot size, height, area restrictions, construction materials, age limits, signage requirements and other criteria that can restrict or allow certain operations on the property.
- How much do I need?
If you’re considering renting or buying an industrial property, it’s worth getting your head around how much it would cost. Given that industrial rents and property prices have been steadily increasing, the reality is that it may be better value over time to purchase a property rather than rent one. But this decision will depend on what kind of business you run, the location and any other relevant factors. You’ll also need to check whether there are any conditions attached to the title such as covenants or easements and make sure that you’ve got enough capital for not only purchase but also for any renovations required. Here are some questions to think about when deciding whether or not to buy: How much space do I need? What features should my space have?
- What am I allowed to store?
You should find out if the building you are interested in is subject to change of use. For example, a property may be zoned for office but you need it for manufacturing. This is important as it can restrict what you can store and require expensive modifications and/or planning consent. You should also look at the physical structure of the property itself – is there enough space on-site or off-site? You may want to assess parking and loading access, both on-site and off-site. It’s vital that the building has loading bay(s) to accommodate large deliveries – this will affect your overheads too so think about how much stock you want up front.
- How long can I keep it?
A lease can range from 1- 10 years, and you’ll want to think about how long you need it for. If you’re looking for a storage facility for your business, there’s not much of an advantage to having a long-term lease. However, if you’re renting out office space, it might be more beneficial as the cost of rent goes up as the time left on the lease goes down.
Additionally, many developers require large deposits up front. This means that if your situation changes, this money will have been wasted and will hurt your business’s cash flow position. So make sure that these terms are set beforehand so that you don’t get into any unexpected situations when signing with the developer.