Scott O'Neill

There was no physical construction needed to get that done.

So the good thing about industrial properties right now, which were discussed in previous podcasts, is they're going very good with fallout of COVID.

There's a lot of people

manufacturing items, storing them, buying them online.

Like logistics is a real big aid for industrial property.

So vacancy rates have dropped.

So rents are growing.

But yeah, this South Brisbane property, it's in a growth corridor as well.

So we thought this was perfect for this client because it had a yield just under 6%, some uplift on it.

And for tenants, we'll create a bit of safety in the income as well.

So good all-around investment.

Yeah, the client will do well out of this one.

Yeah, look, I just believe it's earlier on in the growth cycle.

We've seen Sydney and Melbourne do their thing, and it's created a disparity between the prices.

So Brisbane is more affordable than Sydney,

sydney and melbourne comparably more than it has been for a long time so there's a bit of pent-up catch-up growth yet to happen a lot of people are moving up there obviously there's the big ticket item of the olympics in 10 years time so they're going to bring a lot of major infrastructure projects forward to to get the city ready yeah there's a bit of a buzz to the joint there is genuine growth happening yeah it's not slowing up just yet

Yeah, so this is an off-market purchase.

And look, at Rethink Investing, one of the only ways we can get access to enough good properties is via the offline channels.

So, we get access to these properties via just networking.

We've been doing this for many years, buying thousands of properties.