CBRE is pleased to offer to the market Peninsula Diesel, located at 373 Racecourse Road, Mornington VIC 3931 for sale via Portfolio Auction 186.

This opportunity has the following key investment highlights:

+ Renewed Five (5) Year Lease through to 2029 plus further Five (5) year option through to 2034.
+ Peninsula Diesel, servicing & repairs for trucks, 4WDs, commercial & bus fleets across S/E Melbourne. The Peninsula’s only licensed heavy vehicle roadworthy centre.
+ Attractive net lease structure with tenant responsible for usual outgoings.
+ Fixed 3% annual increases, ensuring compounding rental growth.
+ High profile 2,602sqm* site with direct frontage to Racecourse Road, directly opposite Mornington Racecourse.
+ Versatile 1,427sqm* high clearance facility with capital intensive fitout incl. roller brake test machine, multiple 20 tonne hoists, modern office space plus huge hardstand.
+ Surrounded by important social infrastructure including 13 schools servicing a combined 9,877 full-time students. (1)
+ Mornington: affluent seaside south-east Melbourne location with a median house price up over 12% in the last twelve months to $1,200,000. (2)
+ Mornington Peninsula: Home to 176,389 people, supporting 62,311 jobs and has an annual economic output of $23.646 billion. (3)
+ Net Income: $195,467pa* + GST

To be sold by Investment Portfolio Auction
10:30am AEST Wednesday 5 August 2026
Promenade, Crown Casino, Melbourne

* Approx
1. GapMaps
2. realestate.com.au
3. REMPlan/Mornington Peninsula Shire