Scott O'Neill

Probably not.

On the other side, you've got industrial.

Industrial is right now from coast to coast across Australia, probably the strongest subsector of the commercial market because all these businesses that have been forced to close their doors with COVID, they buy and store and sell

a lot of their products online now.

So this e-commerce boom actually contributes to tighter leasing markets for the actual industrial spaces.

And on top of that, build costs are going through the roof.

So to build more of this stuff, it costs more.

So there's actually quite rapid capital growth happening right now to the tune of over 15% per annum in some markets for industrial.

On top of that, you're going to get, you know, five, six, you know, maybe even 7% net yield.

So overall, the returns are fantastic in that space.

But-

Like any asset, you don't generalize.

All industrial is not great.

All of it's not good or poor rather.

The other one is retail.

So, retail is a massive field.

You could talk about supermarkets.

That's essential service.

But retail is also high-end shoe shops.

You can't compare all retail in the same barrel as being a