7-7E Station Street, Frankston
A large retail and commercial property in the heart of Frankston’s main retail precinct has sold for over $5.33 million via a tender process, on a projected yield of around 5.8%.
Marketed and sold by Sales and Leasing Executive Linda Ellis, the property comprised 7 tenancies on 7 strata titles. These include Tri Star Medical Centre and a rooftop car park managed by Wilson Parking. The whole building measures approximately 1,570sqm, plus the rooftop carpark.
Ms Ellis believes the area will become more popular with shoppers in the near future. “With the Frankston Station Precinct Redevelopment soon to be completed, and with other government upgrades in the area, Frankston is likely to benefit from more visitors and shoppers. Therefore, this property provides a unique investment opportunity for the new owner.”