Finding a suitable industrial space for your business in Singapore is one of the most important decisions that will affect your company's success. Whether you're looking for your first industrial location or need a larger building for your industrial office, choosing the right space is a critical decision. Here are the crucial factors to consider before you seal the deal on an industrial office rental.
The location of your industrial space is the most important factor to think about. Your business’s distribution needs will determine whether you lease or buy. You need to consider how accessible the area where your office or warehouse is located is. Check out if the roads around you are in good condition and if they are properly connected to major parts of the island. The place should also have clearance for large trucks, and the traffic around it should have proper routing and management.
Proximity to Major Linkages
In an industrial space, the transportation of goods and people will be required day in and day out. So, you need to make sure it is easily reachable. Check out the mode in which you transport business goods. Is it via air or water? Your space should be in close proximity to an airport or port if you want to minimise travel time and transportation costs.
Another factor that you must consider is the proximity of your clients and customers. For example, if you have active sales in the west Singapore area, you can get an office rental with a fulfilment facility near that area. In this way, you can reach your destination hassle-free and deliver products faster.
Similarly, it is imperative for you to have convenient railway and highway access if most of your products follow the sea export route and the rest are sent by road to the retail locations. If the goods are less perishable, opting for rail transport is ideal. Remember that goods transportation accounts for more than 20% of your total cost. High fuel prices or driver wage increments may prompt you to choose rail transport instead of truck shipments.
Industrial spaces are usually quite large, so choosing the right size will be an obvious criterion. While you would ensure ample storage space for your office, you will also not want a small, jam-packed office with shelves stacked to the top with stuff.
You need to confirm whether the space matches your business requirements or not. Be specific about the space measurements you need for your industrial office to get a clear idea of the space availability.
Determine the rental cost based on the unit size that you require. Set a budget and then proceed to invest in your office rentals.
Once you select the industrial unit for your office, you need to focus on its layout. You may need to decide whether you want to use the office only as an administrative spot or wish to conduct warehousing operations from it as well. The design of your industrial office will be determined by the type of operations you will run inside it.
Remember that the old buildings, if not refurbished, may have old features that may hinder the material flow of any business. In addition, factors like column spacing and ceiling height can restrict the equipment type you may wish to accommodate in the given space.
Hence, if you intend to choose a refurbished industrial office space, find out if it provides enough room to maneuver large equipment and machinery. Check out your storage requirements and if the industrial area can accommodate the type of operations being conducted.
Parking and access for heavy vehicles
Parking space is another important criterion for your industrial office space. You may use a parking lot for various purposes, such as pickups and deliveries, employee parking, regular parking, and overnight parking. Confirm if you can allow trucks and other vehicles to park overnight in the lot if necessary.
The parking space around your industrial office rental must be large enough to accommodate your business. For example, if your company uses tractor-trailer or truck deliveries, the parking lot width should be sufficient enough to accommodate these vehicles.
Some landlords will charge you extra for the parking lots. Hence, check beforehand what the lease has to offer. In addition, repairs to the parking area will be a long-term cost, and you need to consider that when calculating potential property value.
Does it meet your business expansion timeline?
A B1 industrial space for rent will provide you with adequate space to set up your business. At the same time, you need to be mindful of the direction your business is heading in. Your choice of industrial office rental should meet your business expansion timeline.
For example, if you foresee your business's growth in the coming years, you will likely need more space. However, too much space can also become under-utilized. If you have an office space bigger than your requirements, you will have an unused and empty square area for which you will have to pay extra.
As a business owner, you also need to check whether the industrial space for rent in Singapore provides all the basic amenities or not. These may include things like the drainage system, elevators, air conditioning system, and fire security arrangement.
Remember that if an amenity is missing, you will have to pay for it out of your own pocket once you have secured the office space rental.
From 18 Tampines to 43 Keppel Road and 34 Boon Leat Terrace, we have industrial space for rent in various parts of Singapore. Our experienced industrial real estate team can help you choose the best industrial space for your business.
Contact the Space Resource leasing team today for more information.