Developing an Industrial property

[sueleigh]

Hi ,
I'm new to all this,just love this site.I have a composite Industrial block, and am making plans to develope it,and would apppreciate any feedback.
It's in a town of about 20,000.50km south of Bunbury near a by pass and a Highway, on a back St(for now) 1km from Bunnings ,Makro etc. The industrial section is about 1600 square meters, Have spoken to 5 real estate agents, there is no general work shops for rent. I am thinking maybe strata-later,I can lend $100K without lending against this title,hesitant about lending against commercial title.1 unit@ 2oo square meters and the other the same, or divided in two? Any suggestions. Sue

 

[Macca]

Hi Sue,

Welcome to SS, there is a wealth of knowledge is in the archives, try a search on industrial.

My only suggestion would be to do some leg work first and find out what is needed in the area.

There could well be an agent with a client looking for X amount of space that would be a ready made tenant if you build to suit.

Whatever you build, I would build something that is easy to change sizes by adding walls if needed at a later date.

It may even be that you end up with 2 amenities in the one shed if someone wants a big one, but it does give you the option of subdividing later.

Good luck

 

[rossv]

Hi sueleigh,

and welcome,

I would do both at 200 sq M and market as 200 or 100 and put in a dividing wall if requested by a tenant.

As for strata title .. make sure all walls are complying fire rated walls and why not go through the council process of strata title but don't register with land titles office ( so you only pay one lot of rates)

My memory fails me... but i think there is a time restriction on registration with the titles office, so check that.



rossv