5 Main Street, Mornington, VIC, 3931

Ray White Retail are proud to present 5 Main Street, Mornington for sale via Public on-site Auction on Wednesday 13 May at 11:00am (AEST)

|What|

• Rare 14-year initial lease term to national chain Betty's Burgers, expiring in 2035 (part of Retail Zoo Group)

• 2 x 10-year options to 2055, supporting long term income security

• Significant 377sqm landholding with dual street interface

• Over 9 metres of prominent Main Street frontage

• Strong rental growth profile with fixed annual increases of 3.00%-3.50%

• Significant recent capital expenditure across both tenancies

• Forthcoming office rental reversion in 2027 (currently $317/sqm*)

|Where|

• Main Street Mornington: the primary retail and hospitality destination of the Mornington Peninsula

• Positioned less than 200 metres from Mothers Beach with immediate proximity to the Mornington foreshore

• Surrounded by over 350 retail, hospitality and service businesses concentrated along a single strip

• One of Victoria's most compelling lifestyle and tourism economies (7.9 million annual visitors; $1.8 billion annual visitor spend)

|Why|

• Long-term income security underpinned by a well renowned national tenant with a strong growth trajectory

• Main Street freehold opportunity within one of the tightest held strips in Australia, where supply is extremely limited.

• Large Commercial 1 Zoned site with excellent underlying land value

• Future upside via an additional level under favourable zoning (STCA)

• Supported by proven tenant performance in coastal markets and built-in rental growth

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