Blue-Chip Large Format Retail Investment | Significant 5,015 sqm* Freehold Offering
CBRE is pleased to present Planet Fitness & The Salvation Army to the market, situated within the newly constructed Compass Business Park, located at 17/300a Frankston-Dandenong Road, Seaford VIC, for sale via Expressions of Interest closing 3pm AEDT Thursday 5th November 2026.
The investment has the following key highlights:
Planet Fitness
+ Ten (10) Year lease to August 2035 plus Three (3) further Five (5) Year options to August 2050.
+ Impressive 1,800sqm* leisure & wellness centre with significant $2m tenant funded fit-out.
+ Fixed 3% compounding annual rent increases.
+ 5,500 current memberships underpinned by a globally leading & affordable membership model.
+ Planet Fitness: Founded in 1993, One of the world's largest and fastest-growing fitness franchises, with 2,896 clubs globally, 20.8 million members and $1.32 billion in FY2025 revenue. (1)
+ Planet Fitness is operated in Australia exclusively by Bravo Fit, the national master franchisee operating 32 clubs with exclusive area development rights for up to 100 locations nationally.
+ In July 2026, New York-based private equity firm Franchise Equity Partners (FEP), with USD $1.5 billion in assets under management, acquired Bravo Fit, injecting significant institutional capital to strengthen the lease covenant and stimulate an aggressive growth strategy. (2)
Salvation Army
+ Seven (7) Year lease to November 2032 plus Three (3) further Five (5) Year options to November 2047.
+ Significant 807sqm* building in line with Salvation Army's corporate fit-out.
+ Fixed 3% compounding annual rent increases.
+ The Salvation Army: One of Australia's most trusted charitable organisations, generating approximately $1.3 billion in annual Australian revenue across every state and territory, backed by a global presence spanning 130+ countries. (3)
The Property
+ A-grade defensive investment with dual income streams underpinned by national and global brands on one freehold title.
+ 2025 Build, offering maximum depreciation benefits of up to 45% of year 1 rent potentially tax free. (4)
+ Significant 5,015 sqm* freehold offering with 96m* frontage and exposure to Frankston-Dandenong Road, servicing over 189,000 vehicles passing weekly. (5)
+ Valuable 72 on-title car parks.
+ Situated within Seaford’s newest integrated business park, located in Melbourne’s tightly held Southeast growth corridor, anchored by Guzman Y Gomez, Wendy’s, Starbucks and Storhub, accessible via a brand-new signalised intersection.
+ Seaford/Frankston: Established bayside precinct 36km* from Melbourne CBD, serving 160,000+ residents across Government designated Central Activity Area forecast for significant population growth. (6)
+ Mornington Peninsula: holds 10% of Victoria's coastline, spans 29 coastal towns, and draws 8 million visitors a year and drives $1.8 billion into the local economy. (7)
+ Total Net Income: $664,568 pa* + GST (As at Nov 2026)
This is an exceptional asset that truly must be seen to be appreciated. Scheduled inspections are available or by appointment. Please contact one of our exclusive selling agents to arrange your inspection.
Matthew Wright - 0458 290 588
Jamie Perlinger - 0413 860 315
Rick Jacobson - 0413 830 083
*Approx
(1) Planet Fitness
(2) Franchise Equity Partners
(3) The Salvation Army
(4) JM Advisory
(5) Gapmaps
(6) .id
(7) Mornington Peninsula Shire
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