When it comes to the important step of inspecting an industrial commercial property what do you need to look out for? As we have written about previously, there are a plethora of do's and don'ts when it comes to commercial property purchasing and they all start with the property inspection. How can you ensure that your new industrial space is the perfect place for your business to excel?
Use your senses
Use all your senses each time you go through a property.
What can you see, what is the general appearance of the property, what defects can you see clearly, what do you see when you walk through the main entrance?
What can you smell? Is there evidence of mould, mildew, water leaks or a wet small in the building, are there any other mysterious smells that need your attention, or is there a strong smell that seems to be used to mask another?
When you touch surfaces are they sturdy or when you open doors are they smooth opening?
What can you hear in the building? For example, a dripping tap, wind rustling through cracks, traffic noise.
What to look for in the structure
For anyone who has watched The Block, the hosts wax lyrical about the building and its surrounding areas being up to "Code". The code relates to each building meeting specifications that ensure it is a safe, sustainable and liveable structure. Cracks in bricks and concrete are usually a sign of building construction defects. These are the sorts of things the National Construction Code work to identify and instruct builders to eradicate.
Fit-outs and repairs
When looking through an industrial property most individuals have a clear idea in mind about what they would like to transform, change or update. Make sure your dreams are realistic and within the total price of what you can afford to spend. Especially when it comes to repairs that will need to be considered well before you work on the aesthetics of your new industrial space.
Security, accessibility and alarms
Considering you are looking at a commercial space it’s likely you have invested in a pile of expensive equipment. Ensuring that the new space you are looking at has security to keep your materials safe is a no brainer. Over and above keeping it all safe you must also make sure that your equipment fits. Not only fitting in the building itself but also fits in the entrances available to you.
Surroundings and environment
When looking at an industrial space it may be tempting to just focus on the main building and not fully consider sundries like balconies, awnings, patios, external sheds or buildings but these are all part of the industrial purchase and may cause you undue costs if they need to be repaired or torn down if they do not meet building codes.
Top tips from the professionals:
- Ensure you have a personal involvement in the properties
- Make sure you inspect each property yourself
- Take the time to ask the agent leading questions that will provide you with plenty of answers to show you what the property can deliver to your business
- Check out similar properties in the area
- Look at your competition and where they are positioned
- Make sure you do your research on the area