Mort­gage bro­ker finds mar­ket con­di­tions ideal for move Up­side on up­siz­ing

Townsville Bulletin - - NEWS - TONY RAGGATT

A 312sqm of­fice/ ware­house unit at 45 Keane Street, Cur­ra­jong, is for sale for $ 370,000 plus GST through Troy Townsend of Ray White Com­mer­cial. An in­dus­trial prop­erty of 2414sqm on 5876sqm of low im­pact in­dus­try land. at 320 Woolock Street, Gar­butt, is for sale through Knight Frank Townsville A 146sqm of­fice and work­shop fa­cil­ity on a 607sqm site at 6 Wool­cock Strett, Hyde Park, has sold for $ 410,000 through Knight Frank Townsville A clas­sic style, two­s­torey her­itage- listed build­ing of 300sqm at 181 Flin­ders Street, Townsville City, has sold for $ 570,000 through Troy Townsend of Ray White Com­mer­cial.

Tony Raggatt tony. raggatt@ news. com. au MORT­GAGE Choice Townsville fran­chise owner David Ly­nam loves his new digs.

The long- time bro­ker, who only re­cently ac­quired the fran­chise, has re­lo­cated to larger premises to ex­pand the busi­ness and says his choice of leas­ing her­itage- style of­fices at 673 Flin­ders St has made go­ing to work a plea­sure.

“It has been re­fur­bished in her­itage style with French doors and lots of tim­ber,” Mr Ly­nam said.

“It’s re­ally quite beau­ti­ful. It’s a plea­sure go­ing to work.”

The fran­chise has taken a five- year lease over about 160sq m of of­fice space at Flin­ders Ter­races op­po­site the Hon­ey­combes Prop­erty Group’s Cen­tral Vil­lage cin­ema com­plex.

While the prop­erty has been con­verted to of­fices, it was be­lieved to have been used pre­vi­ously for short­term lodg­ings close to the city.

Mr Ly­nam said their pre­vi­ous of­fice had been too small and in the cur­rent mar­ket of high of­fice va­can­cies and at­trac­tive leas­ing of­fers, they had been spoiled for choice.

They opted for Flin­ders Ter­races be­cause of the larger space, its lo­ca­tion at the en­try to the city and its ac­cess to car park­ing.

“Where we were be­fore, it was a pokey lit­tle of­fice where there was no real room to grow,” Mr Ly­nam said.

“This gives us a bit more scope to ex­pand to hold sem­i­nars and in­for­ma­tion nights and work with ac­coun­tants and so­lic­i­tors.”

Mr Ly­nam has worked in the fi­nance and prop­erty sec­tors for 20 years, in­clud­ing the past 13 years as a bro­ker with Mort­gage Choice.

He ac­quired the Townsville fran­chise from Chris and Leti­tia Vi­tale ear­lier this year.

Mr Ly­nam pro­vides lend­ing across the spec­trum of residential and com­mer­cial prop­erty, per­sonal and car lend­ing and lend­ing for self- man­aged su­per funds.

He has seen three sig­nif­i­cant down­turns and says the cur­rent en­vi­ron­ment presents un­be­liev­able buy­ing op­por­tu­ni­ties.

“Ob­vi­ously it is not the boom pe­riod of the pre- GFC but we are still go­ing well,” Mr Ly­nam said.

“Our busi­ness changes depend­ing on what the mar­ket is do­ing at the time.”

Where lend­ing for ren­o­va­tions had been a big part of the busi­ness, prop­erty lend­ing is pick­ing up.

“It’s un­be­liev­able buy­ing in Townsville at the mo­ment with ( low) in­ter­est rates and prices where they are.”

Troy Townsend of Ray White Com­mer­cial said Mort­gage Choice had taken ad­van­tage of a soft leas­ing mar­ket and had been able to ne­go­ti­ate a rent­free pe­riod of six months for a five- year lease.


DE­LIGHTED: Mort­gage Choice’s David Ly­nam.

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