439-447 & 82-88 Nepean Highway & Wells Street
Frankston, VIC 3199

This exceptional commercial property located at 439-447 Nepean Highway and 82-88 Wells Street in Frankston presents a landmark opportunity for investors, developers, or land bankers. Situated in the heart of the rapidly evolving Frankston Activity Centre, this site offers commanding corner positioning with close proximity to a wide range of retail, lifestyle, and recreational amenities.

The property comprises a significant triple-fronted landholding of approximately 2,198 square meters spread across four titles, with a total land area and building area both measuring approximately 2,975 square meters. The site benefits from a huge combined frontage exceeding 140 meters along Nepean Highway, Wells Street, and Wells Lane, enhancing its visibility and accessibility.

The existing buildings on the site total 2,975 square meters across four structures, featuring rear access and on-site parking facilities. The property currently generates a diversified passing income of $532,381 per annum plus GST as of September 2026, derived from ten separate tenancies, providing a stable income stream for prospective purchasers.

Located within the highly desirable Activity Centre Zone 1 (ACZ1), the site has a preferred building height of 41 meters, equivalent to 12 storeys. This zoning offers outstanding development potential with scope for a variety of multi-level outcomes, subject to council approval. The surrounding area is characterized by several recently approved developments exceeding 14 levels, including notable projects such as 'Harbour' by Urban DC and 'Solene' by PACE, underscoring the strong growth and development momentum in the precinct.

The property's high-profile location provides immediate access to key amenities including the Bayside Shopping Centre (approximately 60 meters away), Frankston Beach (200 meters), Frankston Train Station (400 meters), Peninsula Aquatic Recreation Centre (550 meters), and Frankston Hospital (900 meters). Additionally, excellent connectivity to major arterial roads facilitates direct access to the Mornington Peninsula and Melbourne's Central Business District, making this an ideal location for a range of commercial and mixed-use developments.

This offering represents a rare and substantial opportunity to acquire a prominent site in one of Melbourne's key activity centres, combining strong income with significant development upside. Interested parties are invited to submit Expressions of Interest by the closing date, with further information available upon request.