Residential and commercial properties were all the rage for a long time, but recent trends have shown that there is value to be unlocked in the industrial market, with lots of investors looking to purchase warehouses. In some instances, they are looking to take the warehouse and unlock value by converting the property into residential units. In other instances, however, the goal is to take an old and decrepit warehouse and to restore it to working order. Make it an option for clients to use in one way or another. Storage is one such example as the demand for storage space close to cities continues to spiral. Here are some tips to help set you on the road to success if you are looking to create a storage facility of your own.
Get maximum use of the space
One of the best things about warehouses is the height that they offer. By its very definition a warehouse is not a single volume space. It is double volume or more which means that, done right, it is a very good way to get bang for your bucks. But for this to happen you need to make sure that you have the right storage systems in place. A quick online search for something like ‘warehouse shelving Melbourne’ should be enough to get you moving in the right direction. Find a supplier who will give you want you want and set about installing and erecting it. Floor to ceiling is the way to go with just enough space to drive the forklift down the aisles. Get that right and you are winning.
To really attract customers, you need to be well located with ease of access for big trucks. As charming as an old-school warehouse is, with its lovely brick walls and edifices, if the big delivery trucks must wind through twisty old streets and narrow corners to get there it is simply not going to be attractive. So, think carefully and find something that is centrally located, near the city, near the major transport routes but also easily accessible without too many twists and turns.
Spend a bit of time and effort fixing your building up. While the old saying advises not to judge a book by its cover, the reality is that nobody will want to store their precious merchandise at a business location that looks tatty and run down. You might be able to offer the best rates in town but that is not going to cut it. So, spend a bit of time fixing and cleaning – a fresh coat of paint, pot holes filled and anything glaringly wrong spruced and fixed. It doesn’t need to cost you a fortune, that is not the goal at all, but you need to firstly help play to the strengths of the building and secondly, you need to recognise that from time-to-time you will be hosting guests. If it’s only every truck-drivers who are going to come past then so be it, but if you expect management to make appearances, even if they are very occasional, spend that time and make the repairs.