Industrial property is a sub category within commercial property and refers to commercial property that has been specifically zoned for industrial purposes. When a property is zoned for industrial purposes it means that it can be used for manufacturing or as a plant. Industrial property also includes warehouses, hi-tech buildings, industrial office parks, distribution centres, self-storage units and other industrial buildings.
Industrial property is likely to be found in industrial office parks where there is a high concentration of other industrial buildings.
We are registered with the Australian Property Institute (API) and adhere to their property valuation guidelines. We belong to a national company and have policies and procedures in place that ensure all our industrial property valuations are completed to a consistently high standard.
NT Valuers completes industrial property valuations across the state from Darwin to regional areas such as Palmerston, Alice Springs, Katherine and Tennant Creek.
Similar to other commercial properties, industrial property requires highly specialised valuers with knowledge of the external factors that impacts the value of it. They will consider: The location;The property’s attributes;The economic conditions;Transport and infrastructure;The technology offered;Local commercial real estate developments;Future developments;Climate and environmental factors.
In addition to reviewing the external factors above we will also consider the internal factors that impact the price of your industrial property such as: Length of the tenancy;The building structure including its age and condition;Local competitors;Local residential and commercial real estate developments;Future developments planned.
Property valuations typically influence the business’s future decisions and industrial property is valued using one of three valuation methods: 1. Cost approach. The cost approach references the current price of the land, the price of the building materials and other costs involved in the construction of the building.2. Income capitalisation method. This method is where the property’s market value is taken and then the net operating income is divided by the capitalisation rate. The capitalisation rate refers to the expected rate of return generated on the real estate property.3. Sales comparison approach. This is the simplest form of valuation and simply measures the property against comparable industrial properties in the area.
Our industrial property valuers are diligent in their industrial property valuation methodology and have the expertise to complete property valuations for a multitude of purposes including: Compulsory acquisition;Estate matters;Negotiating a property settlement;Pre-purchase or pre-sale advice;Rent review or rental determinations;Tax reasons including capital gains tax, GST etc.
To have a chat about your industrial property valuation requirements, get in touch with us on (08) 8911 1505.