438-444 Nepean HighwayFrankston VIC 3199
Property Details for 438-444 Nepean Hwy, Frankston
Last Listing description (September 2021)
CBRE Melbourne Middle Markets are pleased to present 438 Nepean Highway, Frankston to the market, offered for sale via expressions of interest closing Wednesday 23rd August at 5:00pm.
We highlight some key points below:
- Commercial investment opportunity with Central Frankston CBD activity centre location
- High profile frontages of 69m* to both Nepean Highway and Kananook Creek Boulevard
- Flexible building of 3,718sqm* with 92 secure undercover car parks
- 100% leased to national education operator Pragmatic Training Pty Ltd
- New 8 year lease + options
- Current income $1,069,056p.a* plus GST as at 1st July 2017 with fixed 3% annual increases
- Permit approval for building extension for 120 place Childcare facility and training areas
- Currently configured as education facility including office, studio, training and auditorium areas with creek and bay outlooks
- Recent refurbishments and capital expenditure, providing attractive depreciation benefits
- Large underlying land area of 3,284sqm*
- Close to vast amenity including Bayside Shopping Centre (150m*), Frankston Train Station (430m*) and bus networks, Frankston Beach/Waterfront and recreation attractions
- Linkages to major road networks connecting Melbourne CBD and famed Mornington Peninsula and tourist region
*approx
Scott Hawthorne
+61 400 861 048
scott.hawthorne@cbre.com.au
Nathan Mufale
+61 421 224 354
nathan.mufale@cbre.com.au
Alex Brierley
+61 447 974 447
alex.brierley@cbre.com.au
Jing Jun Heng
+61 411 059 116
jj.heng@cbre.com.au
David Minty
+61 422 564 199
david.minty@cbre.com.au
Property History for 438-444 Nepean Hwy, Frankston, VIC 3199
- 23 Dec 2021Sold for $16,000,000
- 02 Sep 2021Listed for Sale SOLD - Price Withheld
- 16 Apr 2019Listed for Sale Not Disclosed
Recent sales nearby
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0About 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 21,785 properties. Over the last 5 years, Houses in Frankston have seen a 14.92% increase in median value, while Units have seen a 20.83% increase. As at 30 June 2026:
- The median value for Houses in Frankston is $840,298 while the median value for Units is $574,722.
- Houses have a median rent of $595 while Units have a median rent of $495.
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