CONSTRUCTION on Greater Springfield's newest business precinct is now under way.
The new kid on the business block, Hub 23 is the second stage of the Vicinity business project at Augustine Heights.
Springfield Land Corporation Commercial Development Manager, Sean Ranchigoda said the new development would be ideal for small to medium businesses wanting to move beyond the home office.
"Our motto with Hub23 is why rent when you can buy and we believe this development will be perfect for small business owners who are working from home and looking to go to that next stage," Mr Ranchigoda said.
"There aren't a lot of products around where you can buy a commercial premises, so this is one part of Springfield where you can do that.
"Proximity to amenities and the Springfield CBD access via Augusta Parkway is also what makes this business park address great."
With construction expected to be completed by September, Hub 23 comes off the back of the stage one Strata development which now includes financial advisors and a veterinarian hospital.
"The first Vicinity project offered space for 15 small to medium businesses which was really well received by local businesses," Mr Ranchigoda said.
"This new development is suitable for both white collar workers such as mortgage brokers, accountants, small legal firms and real estate agents, as well as blue collar workers like builders, tradies and people who are looking to use the warehouses.
"There's nothing else this close to the town centre, so you can't get this sort of product anywhere else."
Consisting of 10 units, the $2 million development will be split up into six offices and four warehouses and a total of $4 million has been spent on infrastructure to open up the land with the extension of Gateway Drive.
Mr Ranchigoda said affordability was another key factor of Hub23 and believed the business park aligned with a developing trend of small business owners changing the way they operate their business.
"There is definitely a trend developing now where small business owners are breaking away from the traditional model of occupying an old corporate office," he said.
"Small to medium businesses need flexibility and want to be masters of their own destiny and not paying rent to a landlord.
"I feel business confidence is there and that's why people are looking to take that next step and to move out of the home office."
Three offices are now sold, with another two more going under contract.
Prices for office and warehouse spaces start at the $360,000.