New Warehouse Project
Project Development
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These then result in the financial, qualitative and scheduling framework conditions for the project. A project can have various characteristics, such as being competitive in microeconomic terms, creating/securing jobs or being socially and environmentally compatible in macroeconomic terms. Project developments of logistics real estate are most likely to have the first two characteristics.
Logistics real estate is the term used to describe buildings that are constructed in particular for the storage of goods. In addition, the space can be used by a logistics service provider for picking and handling. Examples of this:
- Storage Hall
Important for project planning: simple construction, usually single-storey; the focus is on the function of storing goods - Cross docking center
Important for project planning: short storage times, goods transshipment area; short distances and many gates for optimal goods receipt and goods issue - Distribution warehouse
Important for project planning: requires more space, thus higher and larger than simple warehouses; the focus is on the order-picking activity of order- and production-related goods before distribution and after storage - Logistics centre
Important in project planning: different types of storage in one place; goods logistics must be coherent and optimised by project management
Other logistics real estate types could still be listed, e.g. high-bay warehouse, block warehouse, cold storage, hazmat warehouse, etc.
Today, a standard logistics hall is described as follows:
- Halls have a height of 10.30 m UK trusses
- Sprinkler system
- Roof and wall insulation according to EnEV
- Floor load at least 5 t
- Ten ramp gates + one ground-level gate every 10,000 m²
- Can be divided into sizes of 5,000-10,000 m² (multi-user capability)
- Design and landscaping are becoming increasingly important
- Ecological sustainability should be given
A project has a defined beginning and end, is clearly distinguished from similar work processes and has a defined purpose or goal.
Who is involved in project development?
Project development requires a great deal of know-how from various technical, legal and economic fields. This therefore requires the involvement of selected participants, such as architects, civil engineers, business economists, lawyers, urban planners and geographers.
Various participants with special expertise work on a project in a team with a specific organisation.
Phases of project development
The first phase of project development involves the project development calculation. In this frontdoor approach, the expected minimum rent for the property is calculated from the total costs of the project and adjusted to the market. In the backdoor approach, the total costs are derived from the market rent, whereby the construction costs are usually fixed and at most the land costs can be adjusted/negotiated.
The costs of a real estate project represent a long-term capital commitment that is dependent on a cyclical market.
Every project is marked out by specifications and limitations
In the project conception phase, various feasibility studies are carried out in order to clearly define the specifications for project management and the goal of the project and to identify risks.
The market analysis serves to analyse the supply-demand situation, i.e. to determine the need for storage, handling or production space and to classify the environment legally, socio-culturally and economically.
In the project development of logistics real estate, the location analysis is more concerned with hard factors such as good transport connections (including rail/port connections), the possibility of 24-hour operation, the industry mix at the planning location, the topography and the building law.
The utilisation analysis plans the size and nature of the property. This also includes the space concept or the layout of parking spaces for cars and/or trucks. Technical facilities must also be taken into account here, which is particularly important in the case of hazardous goods warehouses, for example. For example, extinguishing water ponds or sprinkler systems must be planned in the right position.
In addition to the market, location and utilisation analysis, a competition analysis is carried out in which competing properties are identified and evaluated.
The next step in a project is project management. This is not officially the responsibility of the project developer. However, it has become established in practice that project management tasks are also taken over by project developers.
Project marketing is an ongoing process that is started with the project approach and is only completed when the entire area of the property has been let or sold.