In this episode of Inside Commercial Property, host Phil Tarrant is joined by Scott O’Neill, CEO of Rethink Group, to kick off 2026 with a comprehensive outlook on where commercial property markets are heading and how sophisticated investors should be positioning capital in the year ahead.

Building on the momentum of a strong 2025, the conversation unpacks the major structural forces shaping commercial property today – from constrained development pipelines and rising construction costs to increased private and offshore capital flowing into Australian and New Zealand markets. Drawing on hundreds of active buyers and transactions across the Rethink platform, Scott provides a real-time, ground-level view of how investors are deploying capital and where competition is intensifying.

The episode delivers a detailed asset-by-asset outlook for 2026, including industrial, retail, and office markets. Scott explains why secondary industrial assets are expected to deliver some of the strongest risk-adjusted returns, supported by owner-occupier demand, replacement cost pressures and yield expansion. Retail is also assessed, with neighbourhood shopping centres and large-format retail emerging as standout performers due to severe supply constraints, resilient tenant demand and improving investor sentiment.

Listeners will gain practical insight into:

- How to think like a family office when allocating capital.

- Why blended portfolios across asset classes outperform concentrated strategies.

- Setting minimum yield thresholds to protect downside risk.

- Balancing income security with long-term capital growth.

- Which asset types and deal structures to avoid in the current cycle.

Scott also shares a disciplined perspective on interest rates, reinforcing why short-term movements should not drive long-term investment decisions, and how investors can build portfolios that remain resilient across changing economic conditions.

This episode is essential listening for investors seeking clarity on where value exists in commercial property today, how professional capital is being positioned, and what a disciplined, long-term investment strategy looks like as markets move through the next phase of the cycle.

Learn more: https://www.rethinkinvesting.com.au/ https://www.rethinkinvesting.co.nz/ https://www.rethinkresidential.com.au/Book a consultation: https://www.rethinkinvesting.com.au/l...

In this episode of Inside Commercial Property, host Phil Tarrant sits down with Scott O’Neill, CEO of Rethink Group, to review the performance of the Australian commercial property market in 2025 and unpack what investors should be preparing for as the market moves into 2026.

This in-depth discussion revisits early-year predictions and holds them to account, analysing how interest rate cuts, supply shortages, lending conditions and investor sentiment shaped outcomes across key asset classes, including retail property, industrial property, and office assets. Drawing on insights from hundreds of transactions completed throughout the year, Scott provides a ground-level view of how capital has actually been deployed in the commercial market.

Key commercial property trends from 2025

The episode explores why large format retail and neighbourhood shopping centres emerged as some of the strongest-performing commercial asset classes, supported by yield appeal, limited new supply, and resilient tenant demand. Scott also explains how secondary industrial assets continued to outperform prime industrial stock, driven by higher yields, owner-occupier demand, and replacement cost pressures.

Office markets are also assessed, with commentary on stabilising conditions in select suburban and freehold office assets, contrasted against ongoing challenges in secondary CBD office stock. The conversation extends to regional and residential property markets, highlighting which capital cities delivered the strongest growth and how government incentives influenced late-year momentum.

Investor strategy, portfolio construction, and risk management

Beyond market performance, this episode dives into commercial property investment strategy, focusing on how experienced investors are:

Consolidating portfolios rather than accumulating smaller assets.

Prioritising cash flow resilience over speculative growth.

Diversifying across asset classes and geographies, including New Zealand commercial property.

Actively refinancing to improve servicing and capital efficiency.

Scott also shares practical lessons from 2025 around asset management, due diligence, development feasibility, tenant risk, and knowing when to exit underperforming properties – reinforcing why commercial portfolios must be managed like businesses, not passive investments.

This episode is essential listening for anyone looking to understand where commercial property sits in the current cycle, how professional investors are positioning capital, and what disciplined commercial property investing looks like in a maturing market.

What to expect in episode 69

In Episode 69, listeners will gain clarity on which asset classes are expected to deliver the strongest risk-adjusted returns, how interest rate cuts and lending competition are reshaping opportunities, and the strategic considerations disciplined investors should be making as they optimise portfolios and protect downside risk heading into 2026.

In this episode of Inside Commercial Property, Phil Tarrant is joined by Sam Saad, managing director at Rethink Property Lawyers, for a detailed exploration of the legal frameworks that underpin successful commercial property transactions. This conversation breaks down the essential legal safeguards investors must establish before committing capital, from contract conditions and heads of agreement, through to lease analysis, outgoings, title searches and statutory compliance.

Drawing on real transaction examples, Sam illustrates how specialist commercial property legal advice strengthens investor protection, prevents hidden risks from slipping through due diligence, and stops costly surprises emerging after settlement. This episode underscores the tangible value of tight clauses, accurate documentation and comprehensive legal reviews – all of which materially influence risk exposure, valuation and long-term cash flow. 

Listeners will gain practical guidance on:

• Why commercial investors must engage a specialist property lawyer rather than relying solely on a conveyancer.

• How to structure heads of agreement and due diligence clauses to maximise flexibility and reduce exposure.

• The line between legal due diligence and commercial due diligence – and the distinct roles of a lawyer versus a buyer’s agent.

• Key lease mechanics that influence returns: outgoings, make-good provisions, incentives, options, retail leasing legislation and cost allocation.

• The critical searches required before purchasing (title, PPSR, environmental, planning, notices, asbestos, cladding, flooding, and more).

• How to avoid common pitfalls with security deposits, bank guarantees and settlement handover to ensure legal protections hold up when needed.

From interpreting complex lease packs to identifying gaps in recoverable outgoings and strengthening contract conditions, Sam explains how rigorous legal due diligence can protect hundreds of thousands of dollars over the life of a commercial asset.

This is essential listening for any investor seeking to acquire commercial property with full clarity, robust protections and the right legal structures in place long before settlement.

In this episode of Inside Commercial Property, Scott O’Neill and Phil Tarrant break down one of the most critical yet misunderstood aspects of commercial property investing: due diligence.

Drawing from thousands of transactions completed through Rethink Investing, Scott explains how a structured and independent due diligence process can safeguard investors from financial risk and strengthen long-term portfolio performance.

Listeners will gain practical insights into:

• How to conduct commercial property due diligence that goes beyond the surface numbers.

• The importance of separating acquisition and due diligence to avoid bias.

• Key lease, tenant and legal checks every investor should understand.

• Common red flags hidden in contracts and rent statements.

• Why detailed financial verification can be the difference between a good deal and a costly mistake.

From analysing outgoings and tenant ledgers to understanding lease terms and market-based yields, Scott shares how Rethink Investing’s due diligence framework ensures every property is thoroughly assessed before purchase.

This episode is a must-listen for anyone serious about commercial property investment. You’ll learn how to approach due diligence like a professional, with structure, objectivity, and the right data to make confident investment decisions.

In this episode of Inside Commercial Property, Phil Tarrant and Scott O’Neill sit down with Dan Gallen, executive director and CIO of Pallas Capital, to discuss one of the biggest shifts in commercial investing: the rise of private credit.

With banks tightening lending and investors demanding faster, more flexible solutions, private credit has surged as a key funding option in the commercial property market. But does it always serve investors best, or does it add too much risk?

Dan shares his perspective from more than $10 billion in structured transactions, while Scott explains how financing decisions can transform long-term investor outcomes, from cash flow and yields to equity growth and risk exposure.

Key topics covered:

The commercial property funding landscape: Banks retreat versus private credit expansion.

Private credit explained: Flexibility, higher leverage, and where it beats the banks.

Risks investors must weigh before relying on non-bank lending.

Real-world examples of deals made possible by private credit.

Why financing strategy is central to long-term wealth creation.

Listen now to discover how the right funding strategy can accelerate growth and safeguard your portfolio.

In this episode of Inside Commercial Property, Scott O’Neill and Phil Tarrant tackle one of the most hotly debated topics in Australian property investment: regional versus capital city property. Investors are often told that regional markets promise higher yields, while capital cities offer long-term growth, but is that really the full story?

Drawing on real client examples and market data, Scott and Phil explore the strengths and pitfalls of both strategies. From the cash flow benefits in regional centres to the capital appreciation trends in metro markets, they unpack the truth behind the headlines and expose the risks investors often overlook.

Key topics covered in this episode include:

Why regional properties appear attractive on yield but can lack long-term growth consistency.

How infrastructure spending and population migration are reshaping regional opportunities.

Why capital city assets remain the cornerstone of many high-performing portfolios.

The investor profiles best suited to regional versus metro strategies.

The overlooked costs and risks that can turn a “bargain” regional property into a poor investment.

Whether you’re weighing up your next purchase or rethinking your portfolio strategy, this episode provides clarity on the regional versus capital city debate. Packed with sharp insights and grounded in real-world investing experience, Scott and Phil cut through the noise to show you how to align your property strategy with your financial goals.

Listen now to discover the truth about regional versus capital city property, and learn how the right strategy can position you for stronger returns.

In this episode of Inside Commercial Property, we welcome Patrick Casey, managing director of the newly launched financial planning business, Rethink Wealth, for an in-depth discussion about the future of strategic financial advice and why it’s time property played a leading role.

With a career spanning traditional financial planning and a track record as a commercial investor, Patrick joins Scott and Phil to discuss how Australia’s financial advice landscape has failed to evolve alongside the country’s property market. Together, they explore why most financial planners still overlook real estate in favour of stocks and insurance, and why that’s no longer good enough for today’s investors.

Key topics covered in this episode:

- How the advice model is broken, and what a truly tailored wealth plan looks like.

- Why unregulated property advice and influencer culture are putting Australians at risk.

- The truth about “getting rich slow” and how to build long-term wealth with confidence.

- How Rethink Group’s ecosystem empowers clients from their first investment to full financial independence.

- Why younger investors are arriving with unrealistic expectations and what they actually need.

Whether you’re a seasoned property investor hitting a fork in the road, or a high-income earner seeking clarity on your next move, this episode is a must-listen. With sharp insights, practical examples, and a refreshing take on holistic wealth planning, Patrick and Scott highlight how the right advice, grounded in property strategy, can change everything.

In this episode of Inside Commercial Property, Phil Tarrant and Scott O’Neill are joined by Jed Gould, senior buyer’s advocate at Rethink Group and former elite tennis player, for an insightful and deeply personal conversation on property strategy, mindset, and the realities of building enduring wealth.

From representing Australia on the global tennis stage to overcoming career-ending injury and launching successful international businesses, Jed shares his remarkable journey and how it ultimately led him to commercial property investing and now to advising clients on their own wealth creation journeys.

Together, the trio explore the mindset parallels between elite sport and property investing, the discipline behind successful portfolio building, and how to balance risk and growth with long-term cash flow strategies.

They also touch on:

The critical shift from residential to commercial property investment.

Why cash flow, not just capital growth, is key to retirement-ready portfolios.

What Jed learnt from managing tennis academies across Asia and mentoring 200,000+ children.

The rising demand for sub-$2 million commercial assets.

How high-net-worth clients think, act, and invest differently.

The importance of transparency, resilience, and emotional intelligence in wealth creation.

This episode is packed with valuable takeaways for investors who want to think bigger and build smarter.

In Episode 61 of Inside Commercial Property, host Phil Tarrant sits down with Mina O’Neill for a rare and revealing conversation about what it truly takes to run a high-performing commercial property portfolio behind the scenes.

While most conversations focus on the excitement of acquisition, this episode goes deeper – into the daily decisions, systems, and strategies that keep a portfolio running profitably long after settlement. As the driving force behind the O’Neill family’s multimillion-dollar portfolio, Mina offers her perspective on what happens behind the scenes – managing assets across multiple states, tenant types, and property classes.

From structuring for growth and staying across the detail, to thinking like a business owner – not just an investor – Mina unpacks the practices that turn good portfolios into great ones.

This episode covers:

Running your first property like a business – not a side hustle.

Diversify smart – locations, tenants, and asset types.

Tools that work – how Mina keeps control with simple systems.

Vacancies, leases, and maintenance – how to stay ahead of the curve.

Finance that fuels growth – getting the most from your broker.

Build to last – strategies for long-term wealth and resilience.

If you’re serious about building a sustainable commercial portfolio – or want a practical look at what it takes to manage one – this episode is essential listening.

In this milestone 60th episode of Inside Commercial Property, hosts Phil Tarrant and Scott O’Neill reflect on five transformative years in the commercial property landscape. From the early days of helping everyday Australians understand commercial investing to today’s complex, fast-paced market – this episode captures how much has changed and what investors need to know moving forward.

Together, Phil and Scott examine what $1 million could buy back in 2020 versus what that same figure secures today, revealing the compounding effects of inflation, competition, and yield compression. They discuss real client case studies – including Phil’s own Perth industrial asset – offering firsthand insights into valuation, lease negotiations, and smart portfolio strategy.

Also featured is a breakdown of three standout recent deals, ranging from a $1 million industrial entry point to a $34 million off-market asset, showcasing the breadth of opportunity for investors at every stage.

Key topics in this episode include:

- Then versus now: the dramatic shift in commercial property values over five years.

- $1 million starter assets versus multimillion-dollar syndicate plays – and how to approach both.

- The rental market and supply equation – why low stock is fuelling future growth.

- Lessons from real deals: pricing, valuation uplift, and cash flow strategy.

- Navigating 2025’s economic signals – from tariffs to rate cuts and beyond.

- This episode delivers critical insights and context to help you invest with clarity in a changing market.

Subscribe now, leave us a review, and connect with the Rethink team if you’re ready to take your next step in commercial property investment.