In industrial property agency sales and leasing, the prospecting process can be quite specific.  In the main you are connecting with business owners and property investors with a basic asset.  The property type is not complicated, but it is specialised.  Here are some tips from our newsletter.

That being said, you do need to know about things such as:

  1. Development costs for an industrial property will vary from location to location based on access to land, services and amenities, plus construction materials.
  2. Land costs for industrial development land will be based on availability of land.  Get to know what prices have been doing locally over the last few years.
  3. Warehouse design for modern and convenient industrial property use will be specific to the industry and property.  Inspect a property comprehensively to understand the best target market of tenants or buyers that may be suitable for the property.
  4. Rents, lease types, lease terms and lease conditions for industrial situations will change between large, medium, and small industrial property.
  5. Prices and methods of sale for industrial property today should be studied and tracked.
  6. Transport corridors for goods delivery and despatch.  That will include ports, seaports, airports, rail heads, and highways.
  7. Transport costs for typical deliveries and raw materials supply will be special for a particular industry.
  8. Services and amenities for local industrial property should be checked out including the communications capability such as internet and telephone.  A lot of business today is done remotely and industrial tenants or occupants must be able to tap into the system that helps them make sales and connect with customers.
  9. Raw materials access points for manufacturing industry will be specific to your area and business type.  The mining industry is a case in point.  Understand what an industrial business needs by way of raw material and just how they will get access to it.
  10. Labour access and public transport so you can staff the business with suitable skilled labour force
  11. Car parking for staff and customers will always be essential to business function.  Ask the business or industrial property owner what they need and on what basis it will be accessed (all day parking, or customer short term access)
  12. Access and turnaround requirements for  deliveries and modern transport vehicles
  13. Ratios between office and warehouse layouts
  14. Hardstand for storage in industrial situations
  15. Loading and unloading strategies for warehouse design
  16. Floor loadings in warehouse design will have relevance if they store a lot of goods in the warehouse.
  17. Pallet storage requirements for industry today

It can be said that industrial property is a unique property type requiring dedicated sales and leasing people.  Those special salespeople should have the industrial property skill to list, market, and negotiate comprehensively, no matter how big the shed or warehouse.

All of the above factors will be part of the skill mix and knowledge of the industrial property agent.  You can get more tips like this in our newsletter.