Warehouses can be a boon for any business. Whether you are running a small or a large business, having your products stored in a warehouse will help you reduce costs and maximize efficiency.
Having a warehouse also allows you to expand your operation without having to buy new space, and it provides the ideal environment for logistics.
But before starting your business, it is vital to get the right setup. This involves finding the ideal warehouse space for your needs and requirements.
We discuss about different types of warehouses for rent in Singapore and how to find the ideal one for your company.
Different Types of Warehouses for Rent in Singapore
Business 1 (B1) Clean & Light Industrial Warehouses, Business 2 (B2) Heavy Industrial Warehouses, Logistics Spaces, Dangerous Goods (DG) Warehouses, Air-Con Warehouses, and High Specs Industrial Spaces are all warehouses available for rent in Singapore.
- The cost of renting a warehouse depends on the type of warehouse facility, size, and specifications.
- Traditional Warehouses are built-up warehouse spaces with high ceilings and large rooms.
- Distribution Warehouses are standardized warehouse spaces with large doorways and high-capacity elevators.
- Cross-Docking Warehouses are standardized warehouse spaces with the same specifications as a distribution center but with shorter delivery times.
- Automated Warehouses are fully automated warehouses that require no human interaction or supervision to manage.
They are commonly used for the storage and processing of goods and can be designed to suit diverse business requirements.
Businesses can choose any type of warehouse based on their requirements as they have different benefits and drawbacks as per their usage.
Benefits of Renting a Warehouse in Singapore
Renting a Warehouse in Singapore offers businesses a secure space to store materials and products.
- Traditional warehouse models offer fixed space and monthly rental plans, with a 2-3 year lease.
- Warehouse rentals in Singapore can be found through commercial sites and agents.
- Warehouse storage solutions are available in different sizes, from 2,000 sqft to more than 100,000 sqft.
- Renting a warehouse is an affordable and flexible option that allows businesses to control their own operations.
- With efficient storage solutions, businesses can manage the flow of products through their supply chain smoothly and effectively. Besides, companies don’t have to worry about costly storage space constraints.
- In terms of cost savings, renting a warehouse can also help save on operational expenses such as electricity costs and labor costs.
Moreover, business owners can focus on other aspects of their business without having to worry about storage issues. Overall, renting a warehouse in Singapore is an effective business solution for businesses of all sizes.
Finding the Right Warehouse for Your Needs
Warehouses in Singapore are vital for business owners. They can store goods ranging from raw materials to packing materials to finished goods associated with agriculture and more. Singapore’s warehouse can be used to store goods ranging from raw materials to packing materials to finished goods associated with agriculture and more.
Some businesses use warehouses in Singapore for warehouse logistics services such as receiving, analyzing, and processing returned products. LOCAD provides warehouses with multiple locations and is prepared to receive, analyze, and process returned products.
These services make it easy for businesses to receive and process their goods smoothly. Besides, effective communication is a must for the smooth functioning of a warehouse.
In short, warehouses in Singapore are essential for businesses of all sizes. They can store large amounts of goods and provide logistics expertise for project cargo and OOG shipments.
Finding skilled labor for warehouses in Singapore is difficult and the warehouse needs to be well-equipped with pallet racks, shelving, packing tables, etc. Services like LOCAD make it easy for businesses of all sizes to get their hands on affordable warehousing space without any hassle.
Rental Rates for Warehouses in Singapore
Rental rates for warehouses in Singapore vary depending on the location and size of the warehouse. The rental rates for warehouses in Singapore can range from $1.40 to $2.80 per square foot, depending on factors such as the availability of storage space, access to utilities, and the type of warehouse.
In general, the rental rates for warehouses in Singapore are higher than those in countries with a similar climate and geography. For instance, you can expect to pay between $0.35 and $0.50 per square foot for rentals in Los Angeles, but between $0.12 and $0.20 per square foot for rentals in Singapore.
Other factors such as the availability of storage space, access to utilities, and the type of warehouse may also affect the rental rates for warehouses in Singapore. E.g., the cost of an idle storage space (e.g., a building where no business is being conducted) may be higher than that of a business-active storage space (e.g., a building that houses a business).
The rental rates for warehouses may also be high or low based on basic renovation requirements or other services required by tenants such as forklifts or security guards
Important Considerations When Renting a Warehouse
When renting a warehouse, there are certain factors you must consider to ensure an optimal rental experience. One of the most important factors is space utilization. Ideally, you should store excess furniture, products, and items in your warehouse so that it’s ready and available when needed.
This will help your business save money and time while also ensuring that your facility is efficient and clutter-free.
Another important consideration is the type of warehouse unit. A traditional warehouse model requires heavy upfront capital, a two-to-three-year lease, and monthly rentals based on a $ PSF basis.
The size of the warehouse may vary from 2,000 sqft to 100,000 sqft depending on the business operations and needs.
You can sign a lease/license agreement and place two-to-three months of the security deposit to secure a unit for your business.
Frequently Asked Questions
How much is it to rent a warehouse in Singapore?
If you are looking for warehouse space in Singapore, you can find it for $2.80 PSF per square foot. This price only applies to the Jurong Industrial Estate and may vary depending on the location and size of the warehouse you are looking for.
Most warehouses in Singapore are either short-term or long-term storage solutions. When looking for a warehouse, it is important to consider what kind of items you want to store (e.g. bulk goods, storing electronic equipment), as well as how long you need the storage for. Lastly, always contact an Omni Global representative to get more information about our available storage solutions in Singapore.
Do you need a freight forwarding company or warehousing services in Singapore?
Generally, all supplies of services made in Singapore in the course of your business are subject to GST at the prevailing rate. Freight forwarding services are extensive, involving a host of logistics ranging from coordinating the loading and unloading of goods.
If you are planning to operate freight forwarding, courier, or other transportation services in Singapore, it can be a lucrative venture.
A freight forwarder is ideal for small to medium-sized businesses that want to transport goods that will fit in one full container. If you are new to the world of logistics, a freight forwarder is a company that arranges where your goods go after they leave your warehouse.
If you plan to use a bonded or our warehouse in Singapore to optimize your supply chain, contracting both types of warehouses can be beneficial.
What Are The Various Types Of Warehouses?
In Singapore, there are two types of warehouses: those used for long-term storage and those that handle the complete order fulfillment process.
Additionally, there are three types of 3PL Licensed Warehouses (LW) approved by Singapore Customs:
Licensed Warehouse Type I; Licensed Warehouse Type II; Licensed Warehouse Type III.
Licensed Warehouse Type I is a license granted by Singapore Customs to qualified companies for storing imported dutiable goods in a designated warehouse or area. The warehouse must be licensed by Singapore Customs as a Zero-GST Warehouse (Type I or II license) or Licensed Warehouse. This allows for the storage of non-dutiable goods for long periods of time while deferring tax payments until they enter the market.
Licensed Warehouse Type III is an approved company that stores imported dutiable goods, such as liquor, tobacco, motor vehicles, petroleum and biodiesel. It also allows operating of multiple Zero-GST or Licensed Warehouses under a single licence of the respective scheme and goods can be stored indefinitely.
Which are the 3 types of warehouses?
There are three types of warehouses in Singapore that can be used for storing goods: Traditional Warehouses, Business Parks, and Air-conditioned Warehouses.
Traditional Warehouses are leased on a fixed space, a monthly rental model with a 2-3 year lease. This type of warehouse is best used for general cargo and spirits storage.
Business Parks and HDB industrial properties offer rental spaces for general cargo, spirits, food, milk runs, and cross-country deliveries. These warehouses can be used to store items like furniture, electronics, or automobiles.
Conclusion
A warehouse is the best option for small-scale businesses and entrepreneurs. It helps to streamline operations, improve efficiency and enhance productivity. You can store a variety of inventory in a warehouse, ranging from materials to finished products.
This allows you to ensure that your product is always readily available for purchase. A warehouse can help your business save time, money, and resources.
If you are looking for a warehouse to rent in Singapore, contact us today! Our team will assist you in finding the perfect space for storage!
