398 - 400 Nepean Highway, Frankston, Vic 3199

Stonebridge Property Group is pleased to present for sale 398-400 Nepean Highway, Frankston.

The property is an expansive 3,223 sqm* landholding situated at the gateway to Frankston’s Activity Centre. Recently upgraded to Activity Centre Zone, it offers flexible development potential for residential, childcare, commercial, accommodation, aged care, or a mixed-use offering (STCA).

Key highlights of the opportunity include:

- Commanding 3,223 sqm* landholding at the gateway to Frankston Activity Centre

- Recently rezoned to Activity Centre (ACZ), offering flexible development potential for residential, accommodation, retail, office, aged care, or childcare uses (STCA)

- Rezoning forms part of the Victorian Government’s Major Activity Centre strategy, supporting enhanced planning outcomes and a more streamlined approval process (STCA)

- Exceptional retail amenity just 150 m* from Bayside Shopping Centre, anchored by Coles, Woolworths, and Kmart, as well as the broader Frankston Activity Centre, home to Chemist Warehouse, Dan Murphy’s, and a variety of prominent retail and dining destinations

- Major infrastructure nearby includes Monash University’s Peninsula Campus (1.8 km*) and Frankston Hospital (1.3 km*)

- Frankston offers exceptional lifestyle amenity, adjoining the scenic Kananook Creek and walking trails, moments from Frankston Beach (200 m*), Frankston Pier (1.1 km*) and Peninsula Aquatic and Recreation Centre (800 m*)

- Located just 600 m* away from Frankston Train Station which offers exceptional connectivity to Metropolitan Melbourne, a rare convenience on the Mornington Peninsula

- Surrounded by leading educational institutions including Frankston Primary School (1 km*), St Francis Xavier School (1.2 km*), John Paul College (1.3 km*), and Monash University (1.8 km*)

- Frankston is emerging as the primary economic hub of Melbourne’s Mornington Peninsula, supported by a 20-year Activity Centre vision that promotes significant development***. This growth is underpinned by the $1.1 billion Frankston Hospital redevelopment**, the major upgrade of Bayside Shopping Centre^, and the recent completion of Castlerock’s $49 million office building^^. 

- A proven development hotspot, with leading developers such as Pace, Urban DC, Orion, and Castlerock active in the immediate area, capitalising on the location’s amenity and beachside appeal

- Frankston’s median house price of $735,000* presents an accessible and compelling opportunity within Melbourne’s current market

- Strong underlying retail metrics at this location, with a Total Retail Spend of $603 million within a 3km radius^^^

To obtain further information, or to arrange an inspection, please contact the exclusive selling agents. 

*Approximate

Stonebridge Property Group:

Andrew Milligan
+61 421 559 992

Lucas Duffy
+61 417 596 560

Chao Zhang 张超
0411625068

***Frankston City Council (2024)

**Victoria State Government (2025)

^ Vicinity (2025)

^^Castlerock (2025)


^^^ Location IQ (2025)

 *Approximately

Property Code: 1285