Description

JLL Retail Investments is pleased to present the opportunity to acquire Zone Bowling Frankston – a landmark freestanding retail investment with significant future upside, located at 228 Cranbourne Road, Frankston, offered via Expressions of Interest.

The asset occupies 5,142 sqm* of prime arterial land with a commanding 36m* frontage to Cranbourne Road. The property delivers daily exposure to 26,000+ vehicles in Frankston's established retail and commercial precinct, 2.5km west of the Frankston CBD and 40km south-east of Melbourne CBD.

The investment is secured by a 5-year lease to TEEG Australia Pty Limited, one of the world's largest family entertainment operators with 350+ venues across the Asia Pacific, featuring fixed 3.5% annual rent increases and one further 5-year option to June 2034 delivering strong income with clear future flexibility.

Key Investment Highlights:

+ 5-year lease to TEEG Australia with one further 5-year option to 2034.

+ TEEG: World's largest family entertainment operator with 350+ venues globally, including 30+ Zone Bowling centres across Australia and New Zealand.

+ Substantial 5,142sqm* landholding improved by 2,500sqm* of building, commanding prominent Cranbourne Road frontage capturing 182,000+ vehicles weekly.

+ Significant repositioning potential – site profile suited to conversion/redevelopment for large format retail, medical/allied health, childcare, hospitality, or alternative uses (STCA).

+ Strong rental reversion opportunity – current passing rent of ~$139/sqm* sits well below typical retail benchmarks, offering genuine potential future upside.

+ Fixed 3.5% annual rent increases throughout the term, underpinning income certainty.

+ NET lease structure with tenant responsible for all usual outgoings, excluding land tax.

+ 70* on-site at-grade car parks.

+ Established retail precinct adjacent to KFC, McDonald's, St John of God Hospital, and under 800m from the Woolworths-anchored Karingal Hub.

+ Longstanding entertainment venue with decades of trading history on-site.

+ Net Income: $337,198 pa + GST.*

Zone Bowling Frankston - 228 Cranbourne Road, Frankston VIC is being offered for sale via Expressions of Interest closing on Thursday 24^th of September 2026 at 3:00pm (AEST).

For further information, please contact the exclusive selling agents:

Romanor Falconer | 0400 757 171

Dominic McGrath | 0416 440 525

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