In today’s world of e-commerce, logistics real estate is thriving because having the right elements will not only help you find the right people that will rent in your area but also help them streamline their operations that will ultimately boost the profitability of your business. This presents as an asset to your company, especially with the vast geography that Australia has. So to keep yourself from impending headaches and stress, we are here to guide you so you can be sure that the next logistics real estate solutions you choose sets your business up for success.
What is logistics real estate?
If you are familiar with the distribution of goods and storage spaces, these are what you call the logistics real estate. These properties might be warehouses, industrial facilities, and even parcel distribution centres that are strategically located to transport links and hubs to ensure the efficiency of movement of your goods.
Here’s what you need to check:
Location, location, location. This may sound cliché, but proximity not only to transport networks but also to your suppliers and target markets significantly reduces your ongoing transportation costs.
Space and scalability. It may sound too soon, but you’ll never know how much the development in the area will grow or how expansive the business you want to achieve, so it’s best to check for facilities that offer flexibility in your operations and if it can accommodate its evolving needs.
Infrastructure and connectivity. If there’s another thing you need to reiterate other than location, it’s efficiency, efficiency, efficiency. For sure, the developers of these facilities have already assessed the benefit of the location and will boil down to if these energy-efficient designs as industry standards will be strategic to your business as well.
Workforce Availability. Let’s be real—logistics real estate is dead without the accessibility and availability of skilled laborers. Local employment can offer you affordability in terms of employment rates as well as overhead charges related to skillsets.
Cost considerations. Of course, budgeting will always be the priority; however, you need to look beyond what is estimated and always ask questions regarding expenses. Investing in utilities and other things that will benefit you in the long run can help you gain savings over time. You might also want to consider signing up for government incentives or grants to promote the economic development of the locality.
Sustainability and future-proofing. In itself, these indicators already mean that you are looking for a warehouse enough to keep your business sustainable. Other factors that hold value in keeping sustainability at its core also help businesses like yours future-proof the operations in the long run.
Collaboration is key to success.
We know that success does not come overnight. And while you want to succeed on your own, business growth is about making informed real estate decisions. Keep in mind that this will still depend on how your business fits into the best logistics. Don’t be afraid to ask and research, and take your time to finalise your decision for the sake of your operations.