MAB is now in its 21st year of business, and in that time we’ve seen nearly two thirds of MAB’s 15 business parks, or two million square metres worth of land, sell to small businesses. Across the board, small business now accounts for the largest share of employment in Australia, employing 44% of the workforce1. In industrial sectors like Manufacturing and Wholesale Trade, small business climbs to a whopping 90% of businesses2.
MAB has witnessed the growth in small business first-hand, with our Alliance Business Park in Epping and Thompsons Base in Cranbourne West recording over 70% of land sales for lots under 2000 square metres. The demand for these smaller parcels of land is exceptionally strong and driven by the continuing growth of small business, something that has been recognised by Government with the recent 2016 federal budget tax announcements for small business. At the same time, the current low interest rate environment has stimulated a resurgence of individual land sale activity and investment in business parks like MAB’s.
With the rise of these small businesses come the property preferences of the small business owner: a convenient work environment close to home and staff, on top of access to supplier networks and customers. It’s all about matching customer needs with the right locational product offering and an improved work lifestyle. For MAB, this means two things. The first is investing in strategic locations close to major transport hubs, efficient road networks, planned infrastructure and a growing workforce. The second is planning and delivering an adaptable estate that meets the evolving needs of the small business owner with flexible lot sizes, quality amenity, and a first-rate business park environment enhanced by protective design guidelines that fortify our occupants’ investments. It is MAB’s unique capacity for executing these key fundamentals that have facilitated 2 successful decades of accommodating small businesses.
One of MAB’s greatest strengths is our diversity of market-led product. From a purpose-built 70 square metre warehouse at Trade Central, Epping, to a 20 hectare super lot at Merrifield Business Park; MAB is unique in its ability to offer truly customized products to all customers. Looking back on MAB’s history, I’m proud to see a long line of developments responding to the market and our occupant needs, which is something we continue to do for our business park customers.