Mackay business' $1M Paget move
AS THE region's economy continues to improve, one Mackay business is more than doubling both their workforce and their premises size.
Sarah and Leigh Jones of LS Hydraulics are the latest local business owners to join the growing owner-occupier trend sweeping the region, spending about $1 million purchasing an industrial property at Paget and relocating their expanding operation.
Previously located at a leased site in Prospect Street, the pair recently purchased 28-30 Ginger Street and have plans to hire up to eight new staff.
Mr Jones, who has owned and operated the hydraulics repair business with his wife since 2013, said it was the perfect time to take the plunge.
"The market is down a bit so we wanted to try and get in and buy while we can before it goes back to what it was about five years ago," Mr Jones said.
"We had to expand either way and a lease wasn't feasible, the cost of the lease per square metre was the same as paying off a loan with the bank.
"The size of our workshop at Prospect Street was 300sq m and here is 400sq m but now we have an office and land as well."
With a total land size of 1886sq m at their new Ginger Street premises, including 577sq m under roof with a 290sq m warehouse, Mr Jones said there was plenty of space for expansion.
"Owning is fantastic, we have only been here two weeks but we will try and expand the building and grow the business," Mr Jones said.
"We are seeing a flow on from the resource industry resurgence. We don't deal directly with mines but any contractors and the likes we work with, and in the sugar (industry) as well.
"Business is picking up but we need to get a few more employees to take the work load because it is increasing. We are looking to hire six to eight staff at the most.
"At the moment we have three staff, two full time and a school based apprentice. We'd like someone to hopefully help Sarah in the office, as well as some young fellas and experienced fellas to take the pressure off me."
Knight Frank sales and lease executive Mark Kelly, who handled the sale of the site, said it was rare to find a industrial property with so much potential for growth.
"What Leigh and Sarah chose here is a real rarity. To have a premises of this size with balance land, even the big sites are fully built out and have 40-50 per cent site cover in Paget," he said.
"The property was on the market for quite a long time for lease but we didn't get the right level of interest. We got to the point where the owner decided to sell instead and Leigh and Sarah just had the right timing."