Assessing Your Industrial Property’s Fire Safety? Latitude Can Help

Assessing Your Industrial Property’s Fire Safety? Latitude Can Help

Due to the size of investment required to purchase or lease an industrial property, there are few businesses that would be willing to settle into a new building without some kind of property inspection. Unfortunately, these traditional assessments don’t always take into consideration the importance of the life safety and fire systems, especially where the property’s purpose has been changed.

A warehouse or buildings used for manufacturing may not have required the same safety systems that are needed when the purpose is altered, making a new assessment of the building and subsequent safety protocol a necessity.

Industrial properties have a much greater fire risk than the average residential building, which is why Latitude Property Ltd. has developed a comprehensive industrial real estate property management system which includes a fire safety plan.

High-risk Industrial Real Estate

Depending on the nature of your business, the buildings your company occupies need to be assessed according to various different hazards. Certain types of real estate and industries carry a much higher risk than others and if you occupy any of the following or own a business that requires the handling of combustible or flammable liquids, you need to be particularly vigilant when it comes to your fire and property management systems. High-risk real estate includes:

  • Office towers and condominiums
  • Warehouses and storerooms
  • Facilities used for manufacturing

Owning up to the Responsibilities

The business owner is responsible for ensuring their company’s premises meet the current safety standards, particularly when it comes to protecting their personnel and assets from potential fire damage.

Any business considering buying or leasing a new property needs to be aware of all the potential pitfalls of the safety and fire protection system and safeguard their employees within the building.

Once a lease or sale agreement is signed, these problems become the sole responsibility of the new owner or tenant, and can be costly if significant upgrades are required. Often, such issues are only identified when local authorities perform an inspection or an insurance audit is required. If the company has failed to budget for the necessary upgrades, they often find themselves struggling to meet the safety requirements without compromising the financial well-being of the business.

Firing on all Cylinders in the Workplace

Of all the potential issues arising from the occupation of the industrial real estate, the most important are related to fire safety. Fires and explosions can cause widespread damage and threaten the health and well-being of personnel and people within the neighbouring communities. It is not only the flames that are hazardous but also the smoke and thermal radiation.

By getting professionals to assess the potential consequences of hazardous fire-related emissions, it is possible to assist hazmat teams, firefighters, and other emergency service personnel in responding quickly and efficiently in the event of such an emergency.

To ensure you have correctly and comprehensively assessed the potential risks and devised an effective situational analysis, contact Latitude for more information about their industrial real estate property management system.