449 & 67 Nepean Highway & Wells Street
Frankston, VIC 3199

This property represents a significant commercial investment opportunity located at the corner of Nepean Highway and Wells Street in the heart of Frankston, Victoria. It is a dual-tenanted retail asset anchored by Zambrero, a nationally recognized quick service restaurant (QSR) operator with an extensive network of over 300 stores across Australia, New Zealand, Ireland, the United Kingdom, and the United States, and Hairmoves, a well-established local business with 22 years of trading history and a loyal customer base.

Situated within the Mornington Peninsula's largest retail and commercial central business district (CBD), this property benefits from massive exposure to one of Melbourne's busiest roads, Nepean Highway, which experiences approximately 150,000 vehicles daily. The corner landholding offers extensive frontage to both Nepean Highway and Wells Street, providing exceptional visibility and signage or billboard potential, subject to council approval.

The property is strategically positioned within Frankston's premier retail precinct, surrounded by major retailers and in close proximity to the Frankston Bayside Shopping Centre, the largest shopping centre in the Mornington Peninsula, located approximately 400 metres away. The location is well serviced by public transport infrastructure and is approximately 40 kilometres south-east of the Melbourne CBD, making it accessible and attractive for both customers and tenants.

Investors will appreciate the secure and diversified income stream generated by the dual tenants, each on new seven-year lease terms, with a combined net income of $149,625 plus GST and outgoings as of September 2026. The property falls under the Commercial Investment Property Transfer (CIPT) scheme, meaning no stamp duty is payable, and CIPT payments will not commence until 2035, offering a significant financial advantage to purchasers.

Recent extensive building works have been undertaken, providing potential depreciation benefits for investors. The property presents outstanding future growth potential within one of Melbourne's rapidly evolving metropolitan activity centres, making it an attractive addition to any investment portfolio.

Overall, this high-profile retail investment offers a rare opportunity to acquire a prominent, dual-tenanted commercial asset in a thriving retail precinct with strong tenant covenants, excellent exposure, and significant financial incentives.