All Topics / Help Needed! / What do I do with this industrial shed?

Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of CloseClose
    Participant
    @billyjc
    Join Date: 2015
    Post Count: 4

    Hi All
    I am new to this forum but am looking forward to learning and getting input from all you experienced investors out there.
    About 6 years ago we built an Industrial shed out in a rural community in Queensland about 2 and a bit hours west of Brisbane
    We originally built it with a plan of 2 tenants who were going to rent it out.
    But there were some dramatic circumstances that happened which has caused us to be left with a shed with no tenants.
    Problem we have had is that we have not been able to sell the property without giving it away which I do not want to do.
    We also have not been able to attract anyone to come and tenant the property as local business and industry is real slow.
    The shed is around 350m2 has kitchen and offices, Toilets, shower. on an acre of land. Zoned industrial.
    Does anyone have any suggestions or ideas of what we can do with the property?

    • This topic was modified 5 years ago by Profile photo of Close Close.
    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Hi there

    Hm that is a shame. Careful to have more than one tenant strategy next time I suppose.

    Not knowing precisely where it is makes it tough to make appropriate suggestions (consider mentioning the name of the town in order to attract more relevant suggestions), but I wonder … if it is conveniently on the path from Brisbane to popular caravan destinations, maybe you could offer it as a caravan storage facility.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of CloseClose
    Participant
    @billyjc
    Join Date: 2015
    Post Count: 4

    Yes thanks for your thoughts JacM
    The property is at Wondai.
    Interesting you should say caravan storage, am thinking that way

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    You would need more than 1 customer obviously, so you’d have to figure out the logistics of that. In other words figuring out insurance, figuring out if it would need to be a manned facility, and figuring out how to let different folks in if there is no staff.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of CloseClose
    Participant
    @billyjc
    Join Date: 2015
    Post Count: 4

    Yes thought about that,
    Have someone who lives in the area to manage caravans coming and going.
    Thinking of having a Grey Nomad to stay at property to give a presence at property.
    We already have pub liability on property but do need to look at what other insurances we would need.

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Great – well before you steam ahead and spend any money on this plan, you need to determine if indeed there is a suitable demand for this product, and if so, if there is a demand for it in this particular location. There is nothing to stop you utilising free media tools such as facebook and gumtree to determine the level of interest. You could also get in touch with caravan retailers, clubs and caravan parks to seek information on whether people are enquiring about storage options for their caravans. If it turns out to be a goer, there is also the advertising channel of caravan and camping shows, caravan-ing magazines etc,

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of CloseClose
    Participant
    @billyjc
    Join Date: 2015
    Post Count: 4

    Thankyou JacM
    This will be my next stage of action.
    It certainly is worth a go

    Profile photo of markymarkdennismarkymarkdennis
    Participant
    @markymarkdennis
    Join Date: 2013
    Post Count: 5

    Mate, secure it, make sure it meets all the minimum needs of a business/storage then take a drive around and see what the biggest/most competitive businesses are in the area. At least that’s a good place to start then you’ve got some businesses you can talk to and they may even give you some ideas. Without living there it’s hard to tell you what the needs of a tenant will be…

Viewing 8 posts - 1 through 8 (of 8 total)

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