Once you have a checklist and determined the parameters with which you will you’re your decision on, you can take the next step in shortlisting the industrial properties.
Here, we discuss the sources you can consider or what you can do to help you locate or narrow down your ideal industrial investment property.
1. Shortlisting potential industrial real estate through online listings
One of the easiest ways with which you can start your search is to browse through the industrial property listings for sale on websites such as Commercial Guru, Edge Prop or SRX. These online platforms work very similarly to residential listings on websites such as Property Guru.
You can filter your searches by adjusting your criteria. For instance, you can specify your price range, location, industrial type (such as B1, B2, warehouse etc.), size and price per square foot. If you have a certain budget in mind, this will help you to narrow down the list of industrial properties that come within what you can afford.
2. Exploring the industrial areas
If you are not familiar with industrial property in Singapore, it’s a good idea to be hands-on and explore the various industrial estates yourself.
There are many choices in Singapore, including the Tuas Industrial Estate, Jurong Innovation District, International Business Park, Senoko Industrial Estate, Changi Business Park and one-North amongst many others. You could take a drive to those locations to compare the types of buildings and facilities available.
This would give you a greater appreciation of what the industrial estate has to offer in terms of the amenities and transport connections that are available in that area. For example, you may want to assess how long the walk from a particular building is to the nearest MRT station or whether there are industrial canteens or coffee shops nearby for employees to have their lunch breaks. An attractive location would boost the chances of getting a tenant for your unit.
3. Appointing a property broker or agent
If you are a busy individual and do not have time to do your own homework, then it’s also a good idea to appoint a property agent or broker, part of your property investment Ace team, who can do the legwork for you. It’s best to meet with the property broker to agree on the criteria for your search.
A seasoned property agent would have a more intimate knowledge of trends, pricing and what makes a good investment property. They may even have inside knowledge of potential deals which may not be listed on the market yet. The agent can arrange for site visits and tours and also help you with your pricing negotiations once the deal is at the final stages.