Scott O'Neill

$5 million range.

And above that is your high net worth individual space.

You're going to find that yields are actually a little bit better than those super high $50 million type properties out there because investors individually are going to be more fussy, I think, than someone who's parking up endless amounts of money.

And just the true nature of those types of larger assets can dictate they need lower yields because they potentially have longer leases or even more blue chip locations.

But to answer your question, the lower end of the market is holding up very well in certain asset classes.

And for example, small warehouses, which is sort of that example, I was using that million dollar property.

Warehouses start from around the 500 grand mark.

There is a huge shortage in some areas of these smaller warehouses because there's a lot of tenants looking to store their trade related supplies.

You might have plumbers with a few trucks, they need to store stuff.

You might have little online companies that need to...

Store a bunch of pallets in there.

There is a need for these spaces and they're holding up very well.

And if anything, there's a lot more types of businesses moving into them.

They can be reverted to office.

They can be trade desk related things where you've got a retail component.

Even your big fast food joints sell as low as two, three million.

That's your KFCs, Hungry Jacks, stuff like that.

No, but look, you're quite right.

The big thing I find that holds a lot of people back is just the lack of knowledge.

Compare that to residential.