Frankston site likely to fetch $1 million at auction

A potential development site on the Nepean Highway at Frankston on Melbourne’s south-eastern bayside is going under the hammer on November 11.

It is expected to fetch around $1 million.

The site at 360 and 360A Nepean Highway comprises a 1,114 square metre block of land, zoned Commercial 1. It will be sold as a vacant possession.

The two, semi-detached, single-level buildings on the site have previously been used as medical consulting rooms and car parking.

The site is suitable for a variety of uses subject to council approval. It is within walking distance to the Frankston city centre.

The listing agents are Teska Carson’s Matthew Feld and Michael Taylor.

"Frankston has become one of Melbourne’s premier satellite cities with a mix of industrial, residential and commercial development, including modern lifestyle and entertainment facilities, which has underpinned rising property values and contributed to strong capital growth," said Taylor.

"This site, which also benefits from its proximity to the beach, would suit owner-occupation. However, further development, subject to council approval, to maximise its potential, via the flexible zoning regime, would seem to be its most efficient use."