AFTER a decade of uncertainty, a long-term tenant has signed on to occupy the Frankston Yacht Club building.
Since opening in 2016, the Frankston Yacht Club building has been a financial sinkhole for Frankston Council. Construction of the building and its maintenance has cost ratepayers at least $11 million, and it has largely been unoccupied over the last decade.
Last week Frankston Council confirmed that Roccella Group had signed on to establish an Italian restaurant on the top floor of the building. It is the first tenant to sign a long-term lease for the top floor since the project was finished a decade ago.
The Roccella Lido restaurant is set to open in August, with fit-out works to begin in May. The Sicily-inspired venue is expected to employ up to 90 staff in peak periods.
Frankston mayor Sue Baker said “Roccella Lido represents an exciting next chapter for Frankston’s waterfront.”
“This is about more than world-class dining, it’s about vibrancy, tourism, community pride and continuing to elevate our city as a destination to live, visit and invest in,” she said. “Tenanting this iconic site, together with the future announcement for the former Sofia’s Restaurant site, will completely transform the Frankston Waterfront, marking a level of investment never seen before.”
The Times understands that a lease has also been signed for the nearby Pier Promenade. Ecco Group is expected to take over the former Sofia’s site and the abandoned Frankston Visitor Information Centre.
Former Frankston mayor Kris Bolam oversaw negotiations for the leases throughout last year. He said “for years, the Frankston Yacht Club symbolised unfinished business. Today, we close that chapter for good.”
“Unlocking both the Frankston Yacht Club and the entirety of Pier Promenade was the final piece of the puzzle – restoring a sense of place and pride at such prominent locations that will endure for generations,” Cr Bolam said. “While we have successfully corrected the course, this project serves as a critical case study and definitely highlights the need for a post-mortem. The initial lapses in the business case, commercialisation strategy and construction oversight provide a clear roadmap of what to avoid moving forward.”
Since completing the project in 2016, council has spent additional money on the Yacht Club site to replace incompatible wooden cladding and repair age damage.
Oliver’s Corner cafe opened on the bottom floor of the Yacht Club building in 2022.
Roccella Group is run by Bruno and Joe Ceraso, Francesco Crifo, and Bernie Cuteri. It has operated more than 100 venues and franchise brands. Bruno Ceraso said “we want this venue to be part of Frankston’s story – a place where families, locals, visitors and our staff feel welcome, valued and proud.” “Food is more than what we serve, it’s how we connect with people,” he said. “Guided by our philosophy of mangia, bevi, e divertiti – eat, drink, enjoy – Roccella Lido will bring generosity, authenticity and joy to the waterfront.
First published in the Frankston Times – 2 February 2026