Lawyers put down roots
A RISING star in Townsville’s legal ranks has taken the step of buying a home.
Mobbs and Marr Legal has acquired a two- level office building at 471 Flinders St where the practice will relocate later this year.
Partners Jarrad Mobbs and Brendan Marr launched the firm last year and have been operating in leased premises at Suncorp Plaza.
Both experienced lawyers with young families, they felt the time was right not only to establish the firm but to put down roots and take a permanent position in the city.
“We think Townsville is a great place and we have a lot of confidence in the city,” Mr Mobbs said. “The main reason for the purchase is that we wanted to have a long- term office presence for our customers and clients. It’s also an investment in the business.”
Mr Marr said they were buying a home for the longterm but also believed now was a good time to buy with an upswing in the market on the way.
The firm is among scores of small and medium sized businesses which over the past four years have taken the step of buying their own site rather than continue to rent.
In many cases, buyers say that the cost to buy a property and to service a mortgage is lit- tle different to renting in any case.
Ray White Commercial agent Troy Townsend said the Mobbs and Marr purchase was one of many owner- occupier deals in the CBD in the past four years.
He said the trend was well established and now was at a point where it was getting harder to find property to suit buyers in the price range up to $ 1 million.
“I think people have realised they can own their own building instead of renting and can use superannuation as a deposit,” Mr Townsend said.
“It makes it very easy for these small and medium sized businesses to purchase their own buildings.
“This trend has combined with softer prices for property.”
Mobbs and Marr acquired the two- level 250sq m building for $ 630,000.
The 500sq m site provides room for six car parks with access to Sturt St.
Mr Mobbs is one of only a few accredited succession law specialists in Queensland, while Mr Marr practises in family law and litigation with a office focus on personal injury. They also provide service in commercial law and property.
The business employs eight people and has seen steady growth.
“We have been busy. ( Business) has been better than it is sometimes portrayed,” Mr Mobbs said.