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FRANKSTON CITY investfrankston.com


Frankston City Centre With over $550 million of public and private investment occurring in Frankston City, now is the time to leverage a once in a generation opportunity. Frankston boasts first-class health, education, retail and leisure facilities, whilst offering a unique lifestyle with Melbourne’s finest beaches and easy access to all that the Mornington Peninsula has to offer. Better connected than ever via road and rail, and with enormous growth potential, Frankston is poised to become Melbourne’s premier bayside capital.

Melbourne’s Metropolitan Planning Strategy, Plan Melbourne, sets out the vision and strategy to manage Melbourne’s growth to an estimated population of 7.7 million people by 2050. The Strategy identifies Frankston as one of the 11 Metropolitan Activity Centre’s (MAC) of Melbourne, recognised for its important role in servicing the south east by providing a diverse range of jobs, education opportunities, retail outlets, health services and apartment living. The Frankston Metropolitan Activity Centre (the FMAC) is Melbourne’s only regional centre located along Port Phillip Bay. With an influx of public and private investment in recent years, now is the time to be part of Frankston’s rapid transformation. The FMAC Structure Plan guides development, land use, movement, public realm, open space, strategic opportunities, economic and social planning within Frankston City. The Plan provides certainty for the community, business owners, developers and planning applicants regarding the level of change and types of developments that can be expected across the Frankston city centre.

Key components of the shared vision for the FMAC structure plan include: • Business growth • City centre living • The region’s health hub • Welcoming public spaces • Access to quality education • Creative, connected and proud • Celebrating the Waterfront and Kananook Creek • Diverse and inclusive community • Access for all


Bayside Shopping Centre

WE

LLS

STR

Improve Young Street by creating a high quality pedestrian streetscape.

Frankston Transport Hub

EET Provide better pedestrian connections with key destinations

T EE

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S NE AY PL

Improve Frankston Station by rebuilding the station, consolidating the buses and upgrading the subway.

YOUNG STREET Create new public plazas.

Chisholm Institute

Fankston Arts Centre and Library

Supporting initiatives • Strengthen local businesses • Deliver a range of integrated safety initiatives • Improve access and management of car parking • Promote Frankston’s strengths and bright future • Build partnerships to leverage improvements

Facilitate staged development of council and state government land

Peninsula Aquatic Recreation Centre

Frankston Station Precinct The Victorian Government has announced a $63 million upgrade for the Frankston Station Precinct. Works are due to start in the second half of 2016. The project provides opportunities for private development in the Precinct which can leverage from the significant government investment, in areas like apartments, offices and retail. Frankston City Council will work towards maximising partnerships with the private sector and other government agencies to facilitate key development projects.


Residential Apartments Frankston City is recognised as a preferred place to live for its beachside beauty, excellent connectivity and enviable lifestyle. Frankston City is part of Melbourne’s south east region which has the highest population of Greater Melbourne with 1.8 million residents. Frankston is currently experiencing its greatest increase in population growth year to year. The Frankston city centre is forecast to grow at an accelerated rate of 33 per cent by 2036, indicating a strong demand for apartment living in the future.

$500,000

Frankston City median house price

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000

2007 2008

2009 2010 2011 2012 2013 2014

2015

Frankston’s construction and real estate industries combined add over $2.5 billion annually to the local economy. In 2015, approximately 1,400 building applications were lodged. Frankston continues to attract development activity in the residential market with a growing trend towards apartment developments in Frankston’s city centre.

Offering vibrancy and lifestyle complemented by spectacular water views, exciting retail shops, restaurants, cafés and public transport, it is no surprise 250 apartments have been approved across a number of developments in the Frankston city centre, as interest starts to grow towards apartment living.

“Frankston ranked second in Victoria for annual growth rates in units under $350,000.”

“Frankston ranks 2nd as the most searched suburb in Victoria in 2015.”

Realestate.com.au

Realestate.com.au

“Frankston City ranked 22nd among most profitable municipalities in Melbourne with total profit of almost $79 million in 2015.”

“Frankston records the lowest proportion of empty rental houses across Melbourne – at just 1.1 per cent.”

The Core Logic RP Data Pain and Gain report 2015 (Frankston Leader)

Domain

“There are plenty of buyers and investors coming to Frankston and there is not enough stock to meet the demand.”

“Frankston North is among Melbourne’s best value for money suburbs.”

Thomas Larkin, Barry Plant Frankston Director (Frankston Leader)

Christina Zhou – Domain


Office Frankston City is more than just a beautiful bayside capital, boasting over 36,000 jobs, almost 10,000 businesses and a Gross Regional Product (GRP) of over $5 billion. The Frankston city centre is rapidly emerging as the corporate capital of the region, connected better than ever to Greater and Melbourne by road and rail. Frankston is strengthening its position as the preferred corporate employment destination for the south east, with the expected population growth of up to 480,000 by 2031. This growth provides a pool of workers for established emerging clusters such as the Frankston city centre and Carrum Downs/Seaford industrial precincts. The relocation of South East Water’s headquarters to Frankston was largely due to a study revealing that the centroid position of where their workforce is located is Seaford. In addition to its 650 strong workforce it is expected the development will indirectly generate 400 plus ongoing jobs. With Frankston currently experiencing a limited supply of quality office space, there is opportunity for new office facilities, refurbishments and retrofitting of commercial spaces for office use.

Photographer: Steve Brown


302 Nepean Highway APPROVED

$4m development • • • •

4 levels 18 apartments Café Active street frontage

Clyde Street Apartments COMMENCING 2016

$30m development • 5 levels, 63 appartments • Active street frontage • Next to railway station and Bayside Shopping Centre

TAFE Trade Training Centre OPEN

$19m development • Will service secondary and tertiary students across the region.

Unprecedented levels of investment Over $550m worth of construction Ongoing economic benefit Jobs: 3,850 Economic output: $850m per annum *Maximum economic benefit generated using REMPLAN economic modelling.

44 Beach Street OPEN $2m development • 3 levels • 14 apartments • 2 retail frontages

411 Nepean Highway UNDER CONSTRUCTION $5m development

446-450 Nepean Highway APPROVED

Peninsula on the Bay OPEN

• Aged care and education facility • 5 levels • Walking distance to railway station and Bayside Shopping Centre

• 11.000 sq/m of office space • Active street frontage • Approved by Council in under 60 days • Designed by Doig Architects

• • • •

$45m redevelopment

$25m redevelopment Quest Studios Private dwellings Serviced offices Over 200 jobs created

South East Water Headquarters OPEN $80m development

• 1,111 jobs created • 8 levels • Offices, retail and hospitality

Frankston Station Precinct Redevelopment UNDER CONSTRUCTION $63m upgrade

• Partnerships are sought on the key investment opportunities and supporting initiatives.


Chisholm Frankston Peninsula Aquatic Recreation Centre Upgrade OPEN COMMENCING $51m development 2016 $70.5m redevelopment

• New advanced manufacturing and trades facility • New centre for health and community services

• • • •

Over 200 jobs created Olympic size pool Health and Wellness Centre Exercise pool, spa and sauna

38 Playne Street COMMENCING 2016 $5m development

• 22 apartments • ground floor commercial space • Walking distance to railway station and Bayside Shopping Centre

Allure Bayside APPROVED

$30m development • 91 apartments • Ground floor commercial space • Designed by Denton Corker Marshall

Frankston Private Hospital Upgrade UNDER CONSTRUCTION

6 Davey Street APPROVED

$40m development

$25m development

• 4 level hospital ward • 3 levels basement car park • 96 beds

• 63 aprtments • Commercial space on ground floor • Active street frontage • Designed by Finnis Architects

Frankston Hospital - Stage 3 OPEN $81m development

Frankston Football Club Function Centre OPEN

• Two new 32 bed wards to increase surgical and medical multi-day impatient bed capacity on site • A new and expanded emergency department and additional beds

• Operated by Frankston Football Club • Function centre accommodating up to 350 people

$4m development

Frankston Yacht Club COMPLETE $11m development

• Located on Frankston Waterfront • Will feature a fine dining restaurant, café, function room and club facilities

Information as at July 2016


Health and Education Precinct Recognised in Plan Melbourne as a Health and Education Precinct, Frankston City has seen both the private and public health sectors flourish. Over the past decade, Frankston has become a regional health hub servicing the Mornington Peninsula and south east region of Melbourne. Frankston’s fast growing health industry presents a range of opportunities for primary and allied health businesses. Frankston City Council wants to facilitate health developments for specialists who can expand Frankston’s role as a health hub. With an ageing population and increasing population growth more services will be required to keep up with the rising demand for health services. A snapshot of Frankston City’s growing health sector: • Demand for general practitioners has grown 70 per cent faster than population growth. • Local demand for health services outstrips supply.

• One in every four jobs in Frankston City is in the health sector. • Population growth of people over 65 in the Frankston and Mornington Peninsula regions is forecast to grow by 20 per cent by 2021. • Frankston ‘Health Hub’ status has been boosted by upgrades to two of Frankston City’s private hospitals, totalling nearly $100 million in construction, in addition to the $81 million upgrade to Frankston Public Hospital (completed in 2015). • Monash University’s Peninsula Campus has a focus on primary and allied health. Courses offered include Paramedics, Nursing, Physiotherapy and Occupational Therapy. • There was a 20 per cent growth in Frankston City’s health industry, in both employment and gross revenue from 2006 to 2011. • The health industry will service 62,000 locals, aged over 65 by 2021 and over 72,000 by 2031. • Health Care has overtaken retail trade as the largest employer in Frankston City, with over 7,000 jobs.

• Emerging gaps in the local health offerings include growing demand for specialists.

• Frankston City also offers education facilities for families, tertiary students, businesses and those seeking further education for career development and lifelong learning.

For families there are 44 public and private schools and a range of high-quality options for preschool learning.

The campus has around 4,000 students undertaking study in the areas of business, education and health.

This includes the much sought after Frankston High School, one of Victoria’s high demand zoned schools. It joins three other top independent schools, Woodleigh School, Toorak College and The Peninsula School.

Chisholm is one of the largest providers of vocational education and training in Victoria, and has specialised facilities in six regional centres, including Frankston. Chisholm offers short courses through to certificate, diploma and advanced diploma, and has several industry-specific degrees to match world’s best practice in each field.

Monash University’s Peninsula campus is unique in that it is a large ‘Group of Eight’ University and yet small enough to offer its students an intimate and personal learning experience.

Chisholm’s Frankston campus has over 12,000 students enrolled in courses including health and wellbeing, building and construction, hair and beauty, hospitality, art and design.


Industrial Unlike other industrial regions across Melbourne, Frankston City has already transitioned away from automotive manufacturing. Employment in the Industrial Precincts from 2006 to 2011 increased by 1,583 to a total of 5,946 jobs. The Precinct stretches from Seaford in the south to the new business parks located in Carrum Downs. The Carrum Downs Industrial Precinct has grown to become one of the most progressive industrial clusters in Melbourne’s south east. It is now the economic centre of Frankston City, generating $2.2 billion in 2015. Carrum Downs offers a dynamic mix of manufacturing, construction, engineering, trades and professional service firms easily accessible from the Melbourne CBD via EastLink.


Why Frankston?

Frankston Waterfront | In the heart of the City Centre

Bayside Shopping Centre | In the heart of the City Centre

Victoria’s cleanest, friendliest and most popular beach

Melbourne’s sixth largest regional shopping centre

In the heart of the City Centre World Class Tertiary Education

Golf Courses | Less than 10mins

Dandenong Industrial District | 15mins

Port of Hastings | 22 mins

Access to the finest Sandbelt Courses in Australia

Melbourne’s logistics and manufacturing hub

Melbourne’s second port

Melbourne CBD | 45mins

Melbourne International Airport | 60 mins

Wineries | 22mins Internationally renowned Mornington Peninsula wineries

Monash University & Chisholm TAFE


Priority Planning Frankston City Council has developed an innovative program called ‘Priority Planning’ to facilitate economic development within the Frankston City Centre, Industrial Precincts and potentially other parts of the municipality which demonstrate significant economic benefit. The process seeks to ‘cut red tape’ by ensuring more efficient planning decisions are made on applications that drive employment or activate parts of Frankston, whilst encouraging quality developments. This is achieved through high quality project management, assisting with issues during the pre-application phase and dealing with external processes promptly. Several major developments have undergone the priority planning process, including the 450 Nepean project at 446 – 450 Nepean Highway, an 11 storey $50 million office tower, approved in just 58 days by Council.

Frankston City – Open for business Frankston City is one of the best places in Australia to start a business. Frankston City Council offers a wide range of programs that are dedicated to helping new businesses to succeed. With access to funding, support, regulatory assistance and training, Council is a great place to start a conversation about new enterprise.

Small Business Grants

Commercialising Your New Idea

Startups, green businesses, emerging exporters, home-based enterprises looking to move into a commercial premises or a business looking to relocate to Frankston City can apply for a grant of up to $15,000.

An intensive course over two evenings on how to turn your idea into a profitable enterprise.Participants learn how to objectively assess the business potential of their idea, innovation or invention and get the right support and advice.

The application window opens for submissions from Monday 29 August 2016 to Friday 7 October 2016.

Frankston City Entrepreneurs’ Network

Small Business Investment Program Through this program, Council assists businesses with regulatory processes such as statutory planning, environmental health, building and local laws. There is a particular focus on assisting startups to gain all the necessary approvals in a timely manner.

A forum that startups can tap into for growth advice and networks.It provides an opportunity to connect with innovative, high-growth local enterprises. Access this support by visiting: frankston.vic.gov.au/business or email: business@frankston.vic.gov.au


investfrankston.com Telephone: 1300 322 322 (Australia) +61 3 9784 1888 (International) Email: business@frankston.vic.gov.au Mail: PO Box 490, Frankston VIC 3199, Australia Designed and printed in Frankston City

Photographer: Adam McClelland

Invest Frankston - Investment Prospectus 2016  

With over $550 million worth of public and private investment occurring in Frankston City, now is the time to leverage a once in a generatio...

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