It really Depends on your budget & on what skills you have, Given the budget & the space you have - I would partition off a section for metal work, with a small lathe and mill + grinder & mig welding - if you think that will be needed.
The lift is a good idea - I would have one if i had space.
Insulation, lots of light, lots of power sockets are a must
A good level Painted floor also makes things easy.

Some decent work benches & a good amount of shelving..