Scott O'Neill
speaker
1,140 appearances
15 recordings
2 series
first heard Jan 2022
last heard 12 May
Scott O'Neill’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in May 2026 with 1.
Appearances
They wanted to sell because they're redeploying their funds in another country.
So an off-market opportunity came up.
This shopping center, it's a $5.18 million purchase, which is very entry level for a shopping center because obviously you can...
you know, a Westfield might be a billion dollars and a Coles or Woolworths centre could be 20, 30, 40, 50 million.
So, you know, 5 million is at base of that, which is one of the reasons I like it because people like shopping centres where you've got convenience.
This had a mix of food-related type tenants and some, you know, a good mix of tenants and lots of car spots.
And you've got to think with COVID, what did...
worse than other types of retail and cvd type assets didn't do too well because people stopped traveling there the big air-conditioned malls and that were not beneficiaries but convenience centers where they had a little supermarket and stuff like that did very well because people still needed to eat they still needed to see their dentist they still needed to effectively buy their groceries and these centers did perform quite well yeah look the property was freehold as well this is in southeast queensland as well so we do like the growth story
But the return on it was 6.1 net, which is quite good because a lot of these assets are selling sub 5% these days.
So we feel like we've got the client a good deal.
The client was a busy professional, which they would not have the time or inclination to do all the due diligence or even source an asset like this.
Interestingly, the due diligence, we were able to negotiate a further $75,000 off the price because we found some of the numbers were incorrectly stated.
So this is one of the things you've got to be very careful when buying a shopping center.
You've got to make sure all the numbers are the numbers because there's a lot of outgoings you've got to account for because everything from cleaning to rubbish removal to maintenance to air cons, all of that needs to be quantified to make sure that net return is the true net return.
And that's obviously what we do at Breathing Investing to help people.
Yeah, look, it just takes a lot of time.
Everyone can sort of work through it, but the trick is doing it within the time period you've
you're given and you've got to remember like there's potentially a lot of other buyers trying to buy the same asset especially if it's online so yeah you you can quickly make mistakes in this if you don't know what to look for very quickly you've got to have a builder on hand you you know like that strata title opportunity we mentioned we know town planners and you've got to get them in almost the first day to check the viability of the product or the project yeah there's just a lot of a lot of networking just to get it done
But look, the results speak for themselves.
You are going to get a better return out of this.
Showing 581–600 of 1,140 · page 30 of 57
← Previous
Next →