Nepean Highway site in Melbourne to go under hammer

A site with development potential on the Nepean Highway in Melbourne’s Frankston is up for auction on July 15 and is expected to fetch around $1.3 million.

The 345 Nepean Highway property comprises a 1,303 square metre block of land zoned Commercial 1, with a single-level 225 sqm commercial building and on-site parking.

The property will be sold subject to a short-term lease to Lifeworks Relationship Counselling & Education at an annual rental of $67,090 net.

It is suitable for various uses subject to council approval, according to a media release.

The property is being marketed by Teska Carson’s Matthew Feld, who expects the Nepean Highway to be key to the property’s value.