302-308 Nepean Highway, Frankston, VIC 3199 | Land for sale | OnTheHouse
 
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302-308 Nepean Highway
Frankston VIC 3199

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Land area: 2137m2
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Landmark Development Opportunity in the Heart of the Frankston Activity Centre

Seize this rare opportunity to acquire a prominent development site on Nepean Highway, Frankston, positioned within one of Melbourne's fastest-evolving metropolitan activity centres. Occupying a substantial 2,137sqm* landholding, this strategically located property presents an exceptional opportunity for developers and investors to capitalise on the continued transformation of Frankston's city centre.
A planning application is currently before council for the development of eight luxury architect-designed townhouses, providing a valuable foundation for a premium residential project in a location experiencing significant public and private investment.
Key Highlights:
• Significant 2,137sqm* development site.
• Prime Nepean Highway frontage with outstanding exposure.
• Located within the Frankston Activity Centre Zone.
• Planning application currently lodged for 8 luxury designer townhouses.
• Strategic position within Frankston's designated growth and urban renewal precinct.
• Walking distance to Frankston CBD, transport, retail and lifestyle amenities.
• Strong underlying demand for quality residential accommodation.
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Property Details for 302-308 Nepean Hwy, Frankston

Building Type
Land
Land Size
2137m2
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About Frankston 3199

The size of Frankston is approximately 19.8 square kilometres. There are 72 parks, covering nearly 21.2% of the total area. The population of Frankston in 2016 was 36097 people. By 2021 the population was 37331 showing a population growth of 3.4% in the area during that time. The predominant age group in Frankston is 30-39 years. Households in Frankston are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Frankston work in a professional occupation.In 2021, 58.30% of the homes in Frankston were owner-occupied compared with 56.80% in 2016.

Frankston has 21,848 properties. Over the last 5 years, Houses in Frankston have seen a 11.22% increase in median value, while Units have seen a 16.96% increase. As at 31 July 2026:

  • The median value for Houses in Frankston is $829,312 while the median value for Units is $572,690.
  • Houses have a median rent of $599 while Units have a median rent of $500.
There are currently 134 properties listed for sale, and 77 properties listed for rent in Frankston on OnTheHouse. According to Cotality's data, 1048 properties were sold in the past 12 months in Frankston.

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Pushpinder P Bajwa
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Satyaveer Jodha
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Raine & Horne Land Victoria
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