A rare investment opportunity has emerged in Melbourne’s affluent bayside suburb, with the sale of  Scicluna’s Fresh Produce freehold in Mentone.  

The freehold of the highly regarded, family-owned supermarket chain is being marketed by Kelemen  Commercial’s Rudy Kelemen and Burgess Rawson’s Raoul Holderhead offering investors an income  stream backed by a well-established retail brand, while also offering both owner occupiers and  developers an exceptional opportunity given Scicluna’s lease tenure comes to an end in 2029, meaning  that this renowned retail position and or commercial site is up for grabs across all angles.  

Mr Kelemen said it is a rare opportunity to find a development site which literally ticks all the boxes. It’s  superbly located across the road from the Mentone Railway Station, in an area with a recognized shortage of housing and the median price which warrants substantial quality development. Mr Holderhead remarked on how rarely Burgess Rawson had the privilege of selling an investment  property which stood out due to the quality tenant and a superb long-term growth forecast.  

Positioned at 2-4 Como Parade West (Granary Lane), Mentone, the property spans 725sqm with dual  22-metre frontages, including direct exposure to the Woolworths car park. Scicluna’s, known for its  premium fresh produce and delicatessen offerings, operates successful stores in Tooronga, Sorrento,  and Mentone, reinforcing its reputation as a trusted name in Victoria’s grocery sector. 

“We understand that given the tenant has been trading successfully on this site since 2003 and having  recently spent a massive amount on their rustic warehouse type fit-out, are super keen to remain  forever at this site,” said Mr Holderhead. 

The asset is underpinned by a lease tenure through to 2029, featuring annual 4% rent increases on a  net lease structure, ensuring reliable rental growth. The property generates a net income of $245,670  per annum. 

Zoned Activity Centre 2, the site also presents strong future development potential. 

The agents said Mentone continues to be a sought-after commercial hub, benefitting from an annual  economic output exceeding $1.625 billion. The suburb’s thriving retail and lifestyle scene, combined  with its bayside location, make it an attractive proposition for investors seeking secure, high-performing  assets. 

The asset will be auctioned on-site at 2pm AEDT on Friday, 21 March 2025.