MAB says northern corridor is booming

MAB has attracted strong sales at its commercial and industrial developments in the northern corridor, indicating solid growth in the area.

General Manager Commercial and Industrial Richard Johnston said interest in the north has been exceeding expectations and highlights a growing confidence in the sector.

“The demand in the north for quality commercial and industrial developments is high,” said Mr Johnston. “With great infrastructure and transport links, businesses are keen to relocate or expand their operations to the area.”

MAB estimates that approximately 9,300 jobs will be created at its northern developments.

“This is great news for the local community,” said Mr Johnston.

MAB’s signature office building – 240 UNI HILL – located at University Hill in Bundoora recently reported 10 sales in just two months.

“240 UNI HILL has broad appeal, attracting both investors and owner occupiers,” said Mr Johnston. “We anticipate that the development will be completed by May this year.”

In addition, the Meridian Business Park has sold ahead of schedule with just seven lots remaining at the development.

“Meridian was recently rezoned to Business 3, so we can now offer higher flexibility and attract more business to Thomastown,” said Mr Johnston.

MAB Corporation is now focused on its latest industrial offering in the north – a 62 hectare site at Epping. MAB’s investment at Epping builds on the significant portfolio in Melbourne’s north. MAB (with joint venture partner GPC) is also developing a 440ha business park within the Merrifield project at Mickleham.

“The Epping acquisition is the largest industrial land sale over the past two years,” said Mr Johnston. “Planning is progressing well and we are working closely with the City of Whittlesea to start construction as soon as possible.”

The Epping site is located within the Cooper Street Employment Precinct, adjoining the Hume Freeway to the west and in close proximity to Epping Plaza and the Northern Hospital.