Storage

[pappuller]

As above, speaking to a neighbour over the weekend who has a fair number of storage/workshop units on his yard demand is increasing and he's just added another 5 bay building which is already taken.
We are less than a mile from j17 of the m6 and I've often wondered what sort of interest would we generate if we were to look at some or various forms of storage in the future.
Currently in dairy with approx 45000 square feet of modern portal frame buildings and 14000 of concrete yard area reasonably good access, would be interested to hear people's thoughts and ideas.

 

[Woody j]

As above, speaking to a neighbour over the weekend who has a fair number of storage/workshop units on his yard demand is increasing and he's just added another 5 bay building which is already taken.
We are less than a mile from j17 of the m6 and I've often wondered what sort of interest would we generate if we were to look at some or various forms of storage in the future.
Currently in dairy with approx 45000 square feet of modern portal frame buildings and 14000 of concrete yard area reasonably good access, would be interested to hear people's thoughts and ideas.

Commercial rates

 

[pappuller]

Commercial rates

Very possibly but I really wouldn't have a clue about that or the way of going about starting

 

[bobk]

@robs1

 

[thorpe]

the council have just clicked on to my neighbour, his hgv parking has already gone, struggling with his units and his workers chalet thats been there over 20 years, he might of pushed the boundries a bit but the b4stards that don't know how to earn a shilling have right got tier teeth into him!

 

[robs1]

Very possibly but I really wouldn't have a clue about that or the way of going about starting

The council will get the valuation office ( part of HMRC IIRC) to value each unit, if they are below a certain level there is currently nothing to pay, but I wouldn't be surprised if reeves changes that

 

[Doing it for the kids]

As above, speaking to a neighbour over the weekend who has a fair number of storage/workshop units on his yard demand is increasing and he's just added another 5 bay building which is already taken.
We are less than a mile from j17 of the m6 and I've often wondered what sort of interest would we generate if we were to look at some or various forms of storage in the future.
Currently in dairy with approx 45000 square feet of modern portal frame buildings and 14000 of concrete yard area reasonably good access, would be interested to hear people's thoughts and ideas.

Look at local comparables to see what yours are worth.

Anything between £4 to 12 psf possible.

If starting from scratch think infrastructure, internet, sewage water etc. Access is important too. Your privacy will suffer if you live on site.

Depending on your buildings condition you may need to returb them, I always have a tenant recruited ready to move in,

Done right it makes farming look daft.

Converted quite a few here with more to do.

Might be worth getting planning for any more ag sheds you may need before converting to commercial, hard to get them back after

 

[jackrussell101]

Depends whether you want to do it properly and go into it in a biggish way, or just rent the odd shed out under the radar.

Planning is very laborious now. To get change of use from ag to commercial you will need a new fully verified commercial entrance with visibility of 150m each way. No joke it will cost towards £100k of which £30k will just be fees alone to the council in various forms.

There's no doubt its easier and better money than farming, but think business rates, voids, unwanted guests, inheritance tax issues, losing farmer reliefs, planning fees, objections etc etc.

We did our small development properly, and it's cost a heck of amount in fees etc. Whilst up and running now, If I'd had my time over again would probably have just rented a cheap farm shed out under the radar like many farmers do and not incurred many of the fees from doing properly.

 

[warksfarmer]

As above, speaking to a neighbour over the weekend who has a fair number of storage/workshop units on his yard demand is increasing and he's just added another 5 bay building which is already taken.
We are less than a mile from j17 of the m6 and I've often wondered what sort of interest would we generate if we were to look at some or various forms of storage in the future.
Currently in dairy with approx 45000 square feet of modern portal frame buildings and 14000 of concrete yard area reasonably good access, would be interested to hear people's thoughts and ideas.

Keep it simple to keep your rent charges down and you will fill the units - concrete floor, secure, dry and accessible is all you need. Best sizes seem to be 100sqft upto 1000sqft. Big demand for these. Anything bigger is harder to let as your moving from domestic storage into business storage. Lots of joe bloggs around with overflowing garages and to0 many cars. These will take the stuff under 1000sqft.
Keep the rent under the local going rate of business parks which is very area dependent but around £5-6/sqft + vat + rates.
The easiest thing with rates is dont get involved yourself. Majority of people will get full rate relief if the unit is their only business premises. If you have say 10 units and pay the rates yourself then you will have to pass that cost on to the tenant because you wont be able to get rate relief due to the number of units in your name.
Remember though if the units are rated and become empty you are then liable for them after a 6 month grace period.

So your 45,000 sqft if converted into letable sized units should return you around £250k. Your concrete yard will only achieve around £1/sqft but will need to be secure as well.

However its very much area dependent so do your homework. A good website for price guides for your area is boxpod.com