A double frontage development site within Melbourne’s Frankston Metropolitan Activity Centre precinct is being offered to market, with leading agents Savills Australia and New Zealand appointed to market the site on behalf of Frankston City Council.
Located at 5 – 7 Keys Street, Frankston, the site is situated on a 394sq m corner (Keys Street and Wells Lane) directly opposite Bayside Shopping Centre and within walking distance of Frankston Beach and Train Station.
With Commercial 1 zoning, the Keys Street property has extensive development outcomes with preferred building height of 41m and potential bay views. Currently onsite is a single-level building suitable for office or retail, offering a potential purchaser a short term income stream.
In June, Frankston City Council released a structural plan designed to guide the ongoing revitalisation of Frankston’s Metropolitan Activity Centre (FMAC).
This includes the provision of pedestrian-friendly city centre environment offering more outdoor activity, extended outdoor space for dining, retail and events in the centre, a diverse range of housing types and strong night-time economy as well as street scape upgrades and increased connectivity to the city centre.
Cameron Zamora, Associate Director, CBD and Metropolitan Sales at Savills said, “With the ability to develop or keep as is for the short term, this site offers any potential purchaser the opportunity to come onboard and play a part in the Council’s vision for a revitalisation of Frankston’s city centre.”