Warwick is in the thick of some fast moving changes with new businesses moving into the region, existing businesses growing and expanding their operations and an influx of local and out of town investors. As a business owner or manager in a fast growing business, you may have found yourself tasked with the job of finding a new commercial property as part of business expansion.
With large infrastructure projects preparing to begin or already underway in and around the region, the flow on effect from these regional projects provides an opportunity for existing small businesses to expand and for new businesses to emerge and capitalise on the opportunity. This may mean that the commercial properties that Warwick businesses are currently in may no longer be suitable and that new businesses will be seeking to move into commercial spaces.
The Warwick region itself has three key benefits for businesses and individuals alike; affordability, location and opportunity.
Commercial property prices for purchase and lease are significantly lower than Toowoomba and Brisbane property prices, yet our location positions us right on the National Highway, making transport in and out of Warwick easy, reliable and accessible. The Warwick region is also a future facing community and as such, opportunities are embraced and encouraged.
Over the last 18 months, out of town investment in the Warwick real estate market has in-part been fuelled by a population surge due to regional migration, infrastructure projects and the recognition that commercial investment in a growing region like ours is a promising business investment. Local investors are also contributing significantly to the growth and success of our region through their own expansion and forward thinking outlook.
The ACCIONA MacIntyre Windfarm located in Cement Mills, just south-west of Warwick is one of the most exciting projects about to launch in the Southern Downs Region and brings with it a multitude of opportunities for local businesses to benefit from. With a total investment of AU$1.96 billion, the MacIntyre Wind Farm Precinct will be one of the largest onshore wind farms in the world. It is set to power 700,000 homes, provide up to 400 jobs over the life of the project, contribute substantially to the Southern Downs Regional Council through the payment of rates, provide a diversified income for wind farm host landowners, provide employment and procurement opportunities for local residents and businesses and inject significant economic activity across the Goondiwindi, Southern Downs and Toowoomba Regional Council Areas.[1] ACCIONA has also tipped that its local spend during construct will exceed $500 million.[2]
With all of the growth in and around the region, business owners and managers may find themselves growing and expanding due to the demand for products and services.
If you’re one of those business owners or managers in a business that is expecting growth or currently expanding and are looking to lease a commercial property in Warwick, we’ve put together some key considerations to make before signing a new commercial lease:
- Parking: One of the most overlooked areas is calculating the amount of parking required for staff as well as clients.
- Access: Industries like transport, processing and manufacturing should look for properties with sufficient ceiling/roof heights, wide roller door access, close proximity to outbound roadways, a large enough office space and appropriate kitchen and toilet facilities.
- Starting costs: Ensure you have a cash buffer for improvements, legal costs, council applications, fitouts, and other expenses.
- Advice: Talk to business owners in the region and take advantage of the collective insider perspective and knowledge.
- Location: Businesses that do not require foot traffic may not need a commercial property that is centrally located and may save money by moving outside of these locations.
- Time: Trades are very busy currently and if your commercial property requires a fitout, you’ll want to negotiate with the landlord the timing of the lease based on the availability of the tradespeople.
To further assist business leaders, we’ve developed a guide on what to consider before signing a commercial property lease that you can download below.
Click here to discover the current commercial properties for sale and lease.
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[1] https://mediacdn.acciona.com/media/cxvnyhd5/op_macintyre_project_australia_november_2020.pdf
[2] https://www.queenslandcountrylife.com.au/story/7219046/two-wind-farms-given-green-light-near-warwick/
