The fast-food giant has secured the Wyndham Vale site on an initial 20-year lease, generating about $352,000 in contracted annual net rent. Picture: Stonebridge
An unfinished Guzman y Gomez drive-through has sold for $6.6m in Melbourne’s west, about as much as 11 typical homes in its suburb — or more than 464,000 burritos.
Contracts have exchanged on the restaurant at 1 Hirata Blvd, Wyndham Vale, despite the building not being due for completion until December.
The local private investor behind the purchase has secured a property with an initial 20-year lease to the Mexican fast-food giant, providing about $352,000 in annual net rent.
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That works out to almost $6800 a week, or an initial rental yield of approximately 5.3 per cent based on the purchase price.
The extraordinary price tag is almost 11 times Wyndham Vale’s $610,000 median house price, according to realestate.com.au figures covering the 12 months to October.
It’s also about 464,788 times the cost of a $14.20 basic burrito at the fast food venue.
The off-market sale comes amid a major retail transformation around Manor Lakes, where international fast-food chains and shopping giants are establishing themselves.
US burger giant Wendy’s is also being built alongside Nando’s as part of the expanding Manor Lakes Park Hub precinct.
The Herald Sun revealed in July that construction tenders had identified a Wendy’s restaurant fit-out at Manor Lakes valued at between $750,000 and $1m.
Wendy’s has yet to announced an opening date for the restaurant.
US burger giant Wendy’s is joining the Manor Lakes precinct, with construction tenders identifying a restaurant fit-out valued between $750,000 and $1m. Picture: David Bonaddio
The expanding precinct is already home to a Bunnings Warehouse, which opened in November 2025, while Oporto welcomed its first customers in October.
Petstock, Supercheap Auto and Ampol are among the other retailers announced for the development’s second stage.
Developer Ranfurlie Asset Management has estimated the expansion will generate more than 300 jobs across construction and retail.
Across the road, a $26m retail development anchored by Harvey Norman received approval from Wyndham council in June.
The project at 2 Hirata Blvd and 462 Ballan Rd will comprise three buildings containing large-format retail premises and office space.
The approval followed a $12m acquisition of the 2.15ha site by a consortium linked to retail billionaire Gerry Harvey, first revealed by the Herald Sun in August 2025.
Together, the two separate property transactions along Hirata Blvd represent about $18.6m in sales in little more than a year.
A new Bunnings Warehouse anchored the area’s booming retail expansion when it opened its doors in November 2025.
The concentration of major retailers comes as Wyndham continues to experience substantial population growth.
Australian Bureau of Statistics figures show the municipality’s population reached 347,830 in June, 2025, increasing by 12,510 residents in just 12 months.
Meanwhile, Guzman y Gomez is already recruiting cooks and shift leaders for its Manor Lakes restaurant, with employment advertisements pointing to a late-2026 opening.
The new drive-through will occupy a 2350sq m site with 21 parking spaces but will only be accessible via Hirata Boulevard.
Stonebridge Property Group partner Rorey James said an experienced fast-food investor snapped up the $6.6m property well before its scheduled completion. Picture: Supplied
Stonebridge Property Group partner Rorey James said the developer had sought to secure a buyer before construction was finished.
“The developer approached our team seeking to secure a sale ahead of completion,” Mr James said.
“We approached a select group of experienced fast-food investors, with our longstanding relationship with the purchaser enabling us to deliver a strong result for the vendor while the property was still under construction.”
The Wyndham Vale deal adds to more than $50m in fast-food investment property sales handled by Stonebridge nationally since July.
They include a Guzman y Gomez restaurant at Thornleigh in Sydney, which sold for $12.275m, and an El Jannah outlet at Cranebrook, which fetched $5.65m.
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david.bonaddio@news.com.au