Mortgage broker finds market conditions ideal for move Upside on upsizing
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.