Space is a huge issue when it comes to storing items that are no longer in use or bulky items that take so much space in the first place. The choice for homeowners who don’t want to dispose such items will store it to hidden closets within their homes. But eventually homes will have no space for other clutter or additional unused items, pushing homeowners to resort to storing old unused items to storage units.
This is the case of Melbourne’s central business district (CBD). The city brimming of people and buildings are vying for a spot in storage units. According to Commercial Real Estate, there is a strong demand for the city’s storage units as the people living within Melbourne are continuously seeking for more spaces to store their items. As for businesses, owners thought that storage units made financial sense to business owners who are also storage unit owner-occupiers.
“Owner occupiers are paying a premium to secure a space close to their existing property holdings or business. Boutique retailers often struggle to accommodate storage into the shop layout when they are paying thousands in rent per square [metre] every year, [so] purchasing a conveniently storage nearby for a similar rate makes sense,” Hewett Commercial’s Andrew Hewett told Commercial Real Estate.
Prices are definitely high due to demand. Mr Hewett mentioned that he recently sold a 21-square-metre unit within the Capitol House. Located within Swanston Street, he said the price tag reached was $44,000 plus GST due to a lot of interest of people who want to secure the property.
Another example is a unit located at 601 Little Collins Street. The property is already listed for $12,000 even though the size is only five and a half square metres.
“A lot of city dwellers come in and need storage… With apartment living storage is always a concern and to have a storage unit located nearby is something people really value,” Dingle Partners’s Robert Eggers told Commercial Real Estate. He was the one who listed the property.
Billy Bi, an agent with Ray White Melbourne CBD, also has listings within the same area as Mr Eggers. Mr Bi has 11 units for sale, with the asking prices ranging from $9000 for a one square metre unit to $35,000 for a seven square metre unit. For his clients, the demands come from law firms looking for storage spaces to place their archives and restaurant owners who want a place to store their excess equipment.
It’s strategic for businesses to get storage spaces near the business as it gives easy access for goods tucked away from plain sight. Aside from the proximity, it also allows businesses to free up clutter or excess inventory and store it into a warehouse. Storage spaces are easy to locate because these are also properties. So, businesses will know where they stored their items.
On the other hand, if you’re a storage unit owner and is planning to maximise this property by starting a business, there are three options to consider: first is to start from scratch; second is to franchise a business; third is to buy a business from a legitimate real estate agency. There are various listings that provide information about Business for Sale Australia within your area.
National Brokers Network provides updated listings that show comprehensive property description to give an idea about the business. These listings have a We also provide the contact number of the agent handling the property to properly facilitate enquiries and negotiations. Start making your dream business a reality with NBN. Visit our website at https://www.nationalbrokersnetwork.com.au to see our business listings.
