Stonebridge's marketing materials say the new drive‑through at 1587 Thompsons Road, built in 2025, features dual lanes and a lease to Nando’s Australia until 2040, with options to 2060. The buyer, a New South Wales private investor, was attracted by the 5.3% yield and the fixed 3% rent‑rise clause. The transaction was announced today after a formal agreement with Nando’s Australia.
The sale comes just $355,000 shy of the $6.2 million record set earlier this year for a Nando’s drive‑through in South Australia. That property yielded 5.16% on a $320,000 annual rent. The Cranbourne property will generate $319,035 in 2026, with rent rising by 3% annually.
Stonebridge partner Kevin Tong said the new building and long‑term lease made the site attractive to investors seeking stable returns. He added that fast‑food sites tend to perform well during economic downturns. The deal reflects a growing trend of interstate buyers shifting to Victorian commercial assets amid favorable tax adjustments introduced in May 2026.
Knight Frank economist Ben Burston noted that negative‑gearing changes have left few avenues for investors, making fast‑food leases an appealing niche. He warns that the upcoming audit of property tax exemptions could influence future deals. The buyer plans to submit transfer documents to the Victorian Land Registry by June 15, after which the property will officially change hands.
The transaction is expected to spark further interstate interest in Melbourne’s commercial market, as investors eye the high yield and long‑term security of the Nando’s lease. The sale also underscores the resilience of the fast‑food sector, even as construction costs rise.