143 Frankston-Flinders RoadFrankston VIC 3199
Property Details for 143 Frankston-Flinders Rd, Frankston
Last Listing description (August 2023)
FOR SALE BY EXPRESSIONS OF INTEREST CLOSING THURSDAY 27TH JULY AT 2PM
This impressive substantial medical centre has been held by our Vendor client for many years. This is your opportunity to buy the freehold and continue that tradition.
Towerhill Medical Centre (TMC) has operated here since 1984. They pride themselves in having a time honoured commitment to Frankston, Bayside and the Mornington Peninsula's communities.
The company trading as TMC is an exceptional reliable tenant on a lease of 5 years with two further 5 year options.
TMC sits prominently on the Corner of Frankston-Flinders Road and Bruce Street Frankston. Directly opposite is Towerhill Shopping Complex which houses Ritchies IGA, Ritchies Liquor, Brumby's, a Pharmacy, Lotto agency and other specialist stores and food outlets. Ritchies is currently undergoing a major building upgrade. The $12 million redevelopment will be a Ritchies' superior Fine Food and Wine Merchant's hub.
The unique octagonal building has a light filled and flowing layout which consists of a large waiting and reception area, 7 consulting rooms, surgery room, pathology room, staff kitchen, office and three WC suites. There are 17 car parking spaces on site.
Key features include:
* Lease until 30/11/2026 with two 5 year options
* Current annual rent $98,877
* Rent reviews: annual increases to CPI, to market at options.
* Tenant pays all outgoings (except Land Tax)
* Land area: 1,110 sqm*
* Building area: 274sqm*
* 209m* double street frontage
* 17 car parks
GST: The property will be sold as a going concern.
Terms: 10% deposit, balance 30/60 days.
Inspections: By appointment only.
For further information or to arrange an inspection, please contact:
Linda Ellis 0400 480 397
Michael Crowder 0408 358 926
PLEASE NOTE:
* All information and measurements are approximates. All images subject to copyright. Unauthorised use is strictly prohibited.
Property History for 143 Frankston-Flinders Rd, Frankston, VIC 3199
- 04 Aug 2023Sold for $1,835,000
- 28 Jun 2023Listed for Sale Contact Agent
- 15 Nov 2002Sold for $822,000
Recent sales nearby
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About Frankston 3199
The size of Frankston is approximately 19.8 square kilometres. It has 72 parks covering nearly 21.2% of 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 21,755 properties. Over the last 5 years, Houses in Frankston have seen a 38.00% increase in median value, while Units have seen a 33.85% increase. As at 31 December 2025:
- The median value for Houses in Frankston is $863,752 while the median value for Units is $590,364.
- Houses have a median rent of $575 while Units have a median rent of $490.
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