Frankston Ford site to rev up investors
A site that is home to one of Melbourne’s flagship Ford dealerships is on the market, in a rare opportunity to enter Frankston’s automotive precinct.
The Overton Rd property has housed Jeff Wignall Ford since 2006 and is leased to the ASX-listed AHG Group, Australia’s largest automotive group.
Local private investor Andrew Cross currently owns the site, which is expected to be highly sought-after, given its high profile ongoing tenant.
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The 8800sqm property sits amongst Frankston’s other car dealerships on Overton Rd, and is being offered with a five-year net lease, with an annual income of $760,000 and fixed annual 4% increases.
CBRE Retail Investments’ Sandro Peluso, Joseph Du Rieu and Kevin Tong are marketing the property, which Peluso says also has scope for expanded future use.
“Ford Frankston forms a key part of the Ford sales and service offering in the bayside suburbs,” he says.
“The service centre has been in its current location in Frankston since 2006 and has built a strong following in the area.”
“Strong investor interest is expected to be underpinned by the strong covenant to a listed tenant and the sizeable landholding, which will also allow for future flexibility.”
