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23 hectares almost sold out with Northway Honda dealership signing to MAB’s University Hill

Business Parks, Communities

23 hectares almost sold out with Northway Honda dealership signing to MAB’s University Hill

MAB Corporation (MAB) and Northway Honda are pleased to announced a deal that will establish a $10 million dealership in MAB’s University Hill project in Bundoora. This will bring the successful business park to 85% sold out.

The deal was made amidst this year’s economic downturn… The facility will bring over 30 employees into the City of Whittlesea, bringing University Hill’s total employment to date to 700 people. Northway Honda is part of the Courtney & Patterson dealer group and is its second Honda dealership and will be a major site

“Considering the current market conditions, Northway Honda are still confident in the future of Honda in Australia and are building towards that future, we chose University Hill because of the projected population growth within the area, said Northway Honda’s Dealer Principal, Andrew Booth

The $10 million project is set on 7000 sqm and has excellent visibility with Plenty Road frontage, allowing easy customer access to the new and used cars and vehicle service facility.

University Hill as a location within Melbourne’s north is a unique mixed-use development, the boutique Business Park is now home to Continental (formerly Siemens VDO), Doncaster BMW, Bike Technologies Australia, VicRoads and many local business who enjoy the dedicated corporate environement.

David Butera selling agent at Colliers International for University Hill said, “University Hill, as a commercial and industrial destination has proven itself and time and time again, as Northern Melbourne’s premier location,”

“When the first industrial land was released to the market, 9 blocks of land were sold, which at that time, set a benchmark with figures achieved in the order of $310 per square metre, unheard of in Melbourne’s industrial environment.

Following that benchmark sale, of industrial land, commercial interest began with many sales to following, bringing the estate’s business park to 85% sold in just three short years, confirming University Hill as one of the most successful Business Park offerings in Australia,” he said.

MAB launched its first commercial office building with confidence and again setting benchmarks in the strata-office suites market and are now marketing their second office suites building “twenty enterprise”. The success of the business parks and office suites is testament to the fact that the community in the north requiring high-quality business setting to support the growth aspirations of their businesses.

With the market in a slow-down phase Jason Wood, Project Director at University Hill, said that We are continually proud of the success of University Hill. We set out to provide employment opportunities for the municipality and a platform for long term capital growth for business park occupants. We feel both of these targets have been achieved.