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$70m commercial property development earmarked for Frankston

On Apr 04 2013
Tagged as:
  • VIC


A major commercial property development in Frankston may add value to the area's real estate, ...

A major commercial property development in Frankston may add value to the area's real estate, with the region tipped to become the business centre of Melbourne's southern suburbs.

The $70 million eight storey green star office building will include 11,000 square metres of floor space, and is expected to become the workplace of up to 700 people.

Giving the sustainable project the go ahead yesterday (April 3), planning minister Matthew Guy said the approval comes after a request from Frankston City Council to fast track the development.

"Frankston has a great potential to become the go-to business centre for Melbourne's southern suburbs. This building will be a great boost to the Frankston city centre," the minister said.

"The Frankston CBD will be revitalised with hundreds of workers coming in every day, benefiting local small businesses."

With the development creating jobs in the region, the surrounding areas may see increased demand on residential real estate - potentially driving up home values as a result.

As part of the project, the Kananook Creek foreshore will be enhanced through the creation of new open spaces and cafes.