Step one: the operational brief
Everything starts with the tenant’s brief. What does the building need to do? How much hardstand? What clear height? What power supply? How many truck docks, and what turning circle do they need? What office-to-warehouse ratio? And where in South-East Queensland does it need to sit for your logistics to work?
A well-formed brief is the single most important input into the entire process. Vague requirements produce vague proposals and slow, circular negotiations. The more precisely you can describe how your operation actually moves, the faster and more accurately an investor can respond — and the more likely the finished building is to fit.
This is also where involving your operational people pays off. The supervisors who run the floor will flag things that never occur to whoever signs the lease — and catching those at the brief stage costs nothing, where catching them after handover costs a great deal.
Step two: site identification
With a brief in hand, the investor identifies sites that can accommodate it. In South-East Queensland that typically means appropriately zoned industrial land with the right road access, adequate power capacity, and sufficient size, in locations that suit the tenant’s logistics and workforce.
Sometimes the tenant already has a preferred location, or even an option over a parcel of land. That’s not a problem — the investor can acquire from the tenant, or work with a site the tenant has identified. The agent network is often valuable at this stage, and we work alongside agents who bring both requirements and sites to us.
Due diligence on the chosen site happens here too, and it isn’t something to rush. Contamination history, the capacity of power and other services, flood and planning overlays, and the realistic road access for heavy vehicles all need checking before anyone commits. A site that looks perfect on a map can carry constraints that only surface under proper investigation — and finding them now is far cheaper than discovering them mid-build.
Step three: design and lease negotiation, in parallel
Design and commercial terms move together. The investor engages architects to translate the operational brief into a building design, while the lease terms are negotiated alongside — usually starting with heads of agreement before moving to the long-form lease.
The commercial terms — rent, term length, options, the rent-review mechanism, any capital contributions or fit-out arrangements — are documented before construction starts. Both parties need that certainty before anyone commits capital or gives notice on existing premises. Getting the lease right at this stage is as important as getting the building right; it’s the document you’ll both live with for a decade or more, so it’s worth taking your own legal advice on it.
The rent-review mechanism in particular rewards thought now rather than later. A review structure that’s fair and transparent keeps the relationship healthy across the term; one that protects a number in the short run can sour it. A permanent-hold owner has every reason to favour the former, because we’re the ones who live with the tenancy long after the building is finished.
Step four: development approval
Development approval is the least predictable phase of the whole process. Council assessment timeframes vary by area and by the complexity of the application, and a difficult site or a design that sits at the edge of the planning scheme can extend the timeline. This is normal — but it’s the phase where early assumptions about timing are most often tested.
Code-assessable applications generally move faster than impact-assessable ones. Experienced developers know how to structure an application to minimise the risk of a drawn-out assessment, and an investor’s familiarity with the relevant council and planning framework makes a genuine difference here. It’s one of the reasons a local track record matters more than it might first appear.
Step five: construction
Construction proceeds against a fixed programme. A quality principal contractor working to a clear, settled brief will deliver a predictable outcome. The investor manages the build; the tenant watches progress and starts planning the operational transition into the new facility.
Regular communication between investor and tenant through this phase is what prevents nasty surprises. If the tenant’s requirements evolve during construction — and sometimes they do — flagging it early is far cheaper than a late variation. Weather and trade availability are the usual sources of variation, and a well-structured contract with sensible milestones gives the investor the tools to manage both.
Step six: handover and the long-term lease
At practical completion, the tenant takes possession and the lease commences. From that point the investor is the permanent landlord — responsible for the building’s structural integrity and capital maintenance — and the tenant operates without the distraction of property ownership hanging over them.
For Walter Taylor, handover is the start of the relationship, not the end of a transaction. We hold our assets and we manage them actively. A building we’ve designed for your operation is one we want to keep maintained to the standard it was built — because we expect to own it long after the keys change hands.
Two things make the whole sequence run more smoothly than it otherwise would: a clear, stable brief at the front, and experienced parties on both sides who’ve done this before. Neither removes the unpredictable bits — approvals especially — but together they take a great deal of friction out of the rest.
If you’re thinking through a move and want to understand how these phases would map onto your own timeline, that’s exactly the kind of conversation worth having early — whether directly or through your agent. The earlier you start, the more genuine options you have.