Selecting a good premise for the business is very important. Many enterprises suffer and even fail because they have chosen the wrong location. The choice of location is absolutely vital and is something one needs to take into consideration at an early stage of commencing a business. If the entrepreneur is buying out an existing business, then the location has already been decided and it would not be an issue, unless one needs to move into new premises or location.
The proper location is often decided by the type of business one carries on, as well as by the new business requirements.
Industrial land is the use of land for the primary purpose of conducting industrial manufacturing and assembling processes. Industrial land may, for example, be occupied by factories, metal foundries, wood treatment facilities, mines, refineries, hydroelectric dams, metal smelters, automotive assembly plants, rail car or locomotive maintenance facilities, railcars, non-retail breweries and bakeries, roads and highways, wastewater and sewage treatment plants, electrical transformer stations and salvage yards.
JTC Industrial Premises
- Any individual or business can rent premises from JTC.
- At least 60% of the gross floor area (GFA) of the rented premises should be used for industrial activities, while the other 40% can be used as ancillary offices, showrooms, neutral areas and communal facilities.
- The period of tenancy varies. Usually, tenants make an agreement for a period of 3 years. For some types of property, there is a minimum tenancy period of 1 year.
- Tenants of JTC flatted factories are granted a 2 month rent free period (when they take up a non-fitted unit) in order to be prepared for business.