The home of one of the country’s highest-performing Mazda dealerships, leased to an ASX-listed operator, is now up for sale.
Fitzroys agents Chris James, Chris Kombi and Ben Liu are marketing 50 Wells Road, Seaford on behalf of a private owner.
The Expressions of Interest campaign closes Wednesday, 14 October at 3pm marking the first time the property has been offered to the market in nearly 40 years.
Expectations are of around $9 million.
The property comprises a significant 6,442sqm freehold landholding with 235m of triple street frontage, improved by a full-service dealership with 2,275 of buildings. The tenant recently invested around $1.5 million into extensive showroom and service centre upgrades.
Trading as the highly regarded Frankston Mazda, the site has been trading as a Mazda dealership for over 50 years and was the long-term home to the well-known Graham Powell Mazda. One of the most awarded dealerships in Victoria, the business has won 17 Mazda Master Dealer excellence awards.
The business is operated by Peter Warren Automotive, the third largest Australian ASX-listed motor group, which has a strong presence across the eastern seaboard and reported an annual revenue of $2.49 billion for the 2026 financial year. On the expansion path, the company has just been given the green light by the Australian Competition and Consumer Commission to acquire Wakeling Automotive Group in a $28 million deal.
The Frankston Mazda property is offered with a secure long-term 10-year lease with a 5-year option, returning a net income of $501,500pa plus GST. Land tax is recovered from the tenant on a single holding basis. “Automotive dealership sites with such incredible fundamentals are rare in the current market,” James said.
“Local, interstate offshore investors, syndicates and investors are expected to show interest given the quality of the tenant covenant and the considerable underlying land value.
“Frankston Mazda is very well-regarded in the automotive industry, being one of the marque’s top-performing dealerships in Victoria.
“This dealership was hand-selected by a listed entity knowing full well the strength of the business and the location, with their confidence and commitment further reflected in their extensive capital outlay in upgrading the property.”
Kombi said, “The Mazda brand resonates very strongly with this bayside location’s demographic. This dealership services a really responsive and broad catchment - it’s one of the last dealerships to service down through Frankston City and the Peninsula to Blairgowrie and Sorrento, and further into the east.”
Liu further commented that the Seaford and Frankston area is widely considered a sought-after bayside location.
“More people are being attracted to this area’s lifestyle options, including the beaches, an enhanced shopping, hospitality and dining scene, and growing commercial market,” he said. Seaford and Frankston house prices have shown notable growth over the past 12 months.
This strategic bayside location further benefits from excellent connectivity to Melbourne CBD and the Mornington Peninsula via key arterial networks, with Frankston Highway, Frankston-Dandenong Road and Peninsula Link all close by.