Frankston City - Opportunity, Growth, Lifestyle

FRANKSTON CITY opportunity • growth • lifestyle www.worklifefrankston.com Photo by 20m.com.au

Clyde Street Mall Residential Tower Approved 10 levels Retail ground floor

Peninsula on the Bay Opened 2013 $25M redevelopment Quest Serviced Apartments Residential Apartments Serviced Offices 219 jobs created Generating $62m per annum

Regional Aquatic Centre 2014 - Under construction 60-64 Wells Street

$49.7M development

3 additional office levels

238 Jobs Generating $46M per annum

Approved

The Changing Face of Frankston

TAFE Trade Training Centre 2014 - Under construction $19M development

Monash University Recreation Centre - Opened $13M development

Generating $1.2M per annum

Airio Apartments Approved $80M development South East Water HQ 2015 Under construction $80M development Offices, Retail and hospitality & Public plaza 1,116 jobs created Generating $241M per annum

Residential Apartments Gymnasium Hospitality 35 jobs Generating $8M per annum

Frankston Hospital Stage 3 2014 - Under construction $36M development New wards, Emergency Department & Administration 282 jobs Generating $42M per annum

Frankston Park Function Centre Planning Phase $3M redevelopment

Frankston Yacht Club Planning Phase Redevelopment

Economic Benefit and Investment Frankston City Centre 2011-2015 Construction Investment: $1.16 Billion Ongoing Benefit Jobs: 1,912 Economic Output: $395M per annum

Frankston rail-line $100M and Frankston Transit Interchange $13.8M - Upgrade Announced

Peninsula Link - Opened 2013 $730M Freeway

Wages and Salaries: $135M per annum Gross Regional Product: ďƒĄ4.71% * Maximum economic benefit based on 2011 census data generated using REMPLAN economic modelling.

Eastlink - Opened 2008 $2.5B Motorway

A growing business hub that services the region

Frankston City plays a key regional role in the education sector through its diverse tertiary education offer (through Chisholm TAFE and Monash University and a range of non-government organisations). Education revenue and employment grew by 10% from 2006-2011.

Tourism is another growth industry, with Frankston City playing an important role in the internationally renowned Mornington Peninsula region. The sector has grown by 10% from 2006-2011, with significant gains in the accommodation and food services sectors in particular.

Carrum Downs/Seaford Industrial Precinct There continues to be growth in niche manufacturing, particularly in the Carrum Downs/Seaford Industrial Precinct. This growth is to a great degree as a result of the opening of the Eastlink Motorway, which connects it to Melbourne’s major industry nodes and key transport infrastructure. Despite the decline in traditional manufacturing sectors, such as automotive, the growth of niche industries and sustainable manufacturing has largely neutralised this impact in Frankston City.

In 2011:

• 40% of Frankston City’s gross revenue

• 22% of Frankston City’s employment

• 57% of Frankston City’s regional exports

Growth from 2006-2011: Total job growth: 1,356 Total growth in gross revenue: $405M Source: A ustralian Bureau of Statistics, 2006 and 2011 Census.

Data collated using REMPLAN economic modelling.

Growth in Health Care and Social Assistance in Frankston City

Health Industry Boom

Gross Revenue

Frankston City’s role as the health and wellbeing hub for the region has been consolidated over the last seven years, with enormous growth in both employment and gross revenue in the sector.

The sector is closely linked to education, with Monash University offering a wide range of health courses including nursing, allied health and paramedics. Training is well connected to local health care providers who offer a wide range of placement opportunities.

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These increases are on the back of expansion in private and public hospitals, specialist health care, allied health, residential care and community services.

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Frankston City has experienced significant economic growth from 2006-2011.

In particular, there has been significant growth in the health, construction and education sectors.

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it’s time to invest in Frankston city

Photo by 20m.com.au

Land prices in Frankston have shown similar growth to the rest of Metropolitan Melbourne in the past decade. Currently it represents investment opportunity due to its affordability. However, the quick growth and high median residential prices demonstrated by its northern and southern neighbours suggest an encroachment of demand into Frankston - especially in light of the level of recent business and infrastructure investment. A rise in price point is expected which will see larger areas of Frankston reaching parity with Mordialloc and Mornington.

Melbourne’s bayside suburbs median house value 2003-2012

What the experts say...

1,200,000 2003

“The constrained supply of land in most parts of Frankston City is expected to impact property values over time but also lead to a significant increase in higher density residential redevelopment.”

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Seaford

Frankston

Frankston South

Mount Eliza Mornington

Frankston City median house value 2003-2012 400,000 350,000 300,000 250,000 200,000 2003

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2009

“SGS identified that potential exists for the Frankston Activity Area and indeed the entire Frankston municipality to leverage from opportunities created by investments from already committed projects in the region and organic growth.”

“Improved accessibility to these employment nodes combined with the lifestyle potential of the FAA provides a strong basis for attracting a new generation of residents. Given that the potential lifestyle opportunities offered by the FAA will be a key component in attracting new residents…”

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Frankston City is fast becoming Melbourne’s prime bayside investment location. The combination of employment growth, connectedness and lifestyle reinforces as the bayside capital of the south east.

There are excellent opportunities for white-collar employment, combined with medium density living (particularly in and around the Frankston city centre).

2012

we’re going places Frankston City has never been better connected to all parts of Melbourne and the Mornington Peninsula. Investment in major arterials - including Eastlink and Peninsula Link - continues to generate significant commercial development opportunity along adjoining precincts.

“The dramatically reduced compound freight and delivery times have boosted business efficiency and profits right along the corridor bordering these roadways. Proposed upgrades to sections of the Westernport Highway and the development of Port of Hastings will further enhance the attractiveness of the area to business investment.”

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“The benefit of investing in transport infrastructure to relieve economic bottlenecks is demonstrated daily by the reliability and travel time savings delivered to many thousands of motorists since the opening of EastLink.”

Dennis Cliche, Managing Director - Connect East

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Recent announcements for upgrades of the Frankston rail-line ($100M) and Frankston Transit Interchange ($13.8M) will consolidate the Frankston city centre’s role as a regional employment, education and health care hub.

Complementing the significant infrastructure investment, Frankston City’s location boasts unrivalled access to internationally renowned wineries, golf courses and restaurants throughout the region.

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AUSTRALIA

VICTORIA Melbourne

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Frankston Beach Less than 5min

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Golf Courses Less than 10min

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Wineries 22min

Victoria’s cleanest, friendliest and most popular beach

Access to the finest Sand Belt Courses in Australia

Internationally renowned Mornington Peninsula wineries

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Bayside Shopping Centre Less than 5min

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Monash University & Chisholm TAFE Less than 5min World Class Tertiary Education

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Dandenong Industrial District 15min

Port of Hastings 22min

Melbourne’s logistics and manufacturing hub

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Melbourne CBD 45min

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Melbourne International Airport 60min

Melbourne’s sixth largest regional shopping centre

Melbourne’s second Port

A great place to live

A corporate destination

One of Frankston City’s most appealing feature is its bayside location. Even though the bay is readily accessible from all parts of the municipality, property prices remain affordable, particularly when compared to neighbouring bayside locations.

Frankston city centre (one of only six designated Central Activities Areas in metropolitan Melbourne) is positioned to become the preferred corporate employment destination for the south east growth corridor, with population expected to exceed 550,000 by 2031 – growing at a rate of 3.5% p.a.

Frankston City’s accessibility and reduced travel time across Greater Melbourne enhances its attractiveness as a destination to live, work and invest.

The residential growth corridor provides a pool of workers for the established and emerging employment nodes in the city centre and Carrum Downs. The city centre has been selected as the location for the new South East Water headquarters for this reason. A study showed the majority of the water supplier’s employees lived within a reasonable commuting distance of the chosen site.

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Frankston City is well serviced by transport infrastructure, it boasts excellent natural amenity, regional retail centres, quality education facilities, public and private health centres and growing employment nodes. The map below highlights these features.

Frankston city centre will also play an important role as a corporate hub for the future deep water Port of Hastings. It complements major industrial precincts such as Dandenong, which will service the Port of Hastings as a logistics and container storage centre.

Industrial

South East Growth Corridor

Major Retail Centre

Regional Employment Centre for South East Growth Corridor and Port of Hastings

Frankston City Centre

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Major Highway (including EastLink and Peninsula Link)

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CULTURAL and natural ASSETS One of Frankston City’s cultural flagship is the Frankston Arts Centre. The facility holds performances ranging from circus acts, to drama and opera, seating 800 patrons in a venue regarded as amongst the finest in the State. Over 800,000 people visit the venue over the course of a year.

McClelland Sculpture Park + Gallery in Langwarrin attracts over 130,000 visits a year with its sculpture collection regarded as the best in Australia.

Major events in Frankston City such as the Frankston Waterfront Festival, Christmas Festival of Lights, Ventana Fiesta (Latin festival) and Pets’ Day Out attract over 180,000 visitors every year.

The Ironman Asia-Pacific Championships attracts 30,000 visitors and a worldwide TV audience.

Photo by 20m.com.au

2013 Ironman Asia-Pacific Championships

Frankston City forms the nothern part of the internationally renown Mornington Peninsula tourism region, which attracts 1.4 million overnight visitors and 2.9 million day trippers annually.

Frankston City boasts unrivalled natural assets. The waterfront was the most visited Victorian beach in 2012 and has regularly won state and national awards for being the cleanest beach.

Kananook and Sweetwater Creeks offer boating and bushwalking walking experiences in beautiful natural surrounds just minutes from the city centre.

Frankston City boasts over 500 parks and designated open spaces. The city centre is surrounded by wonderful parks – Beauty Park and the George Pentland Botanic Gardens in the south, Jubilee and Ballam Parks in the east and the Long Island reserve and the Kananook Creek trail to the west and north.

Photo by Steve Brown

2013 Ventana Fiesta

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Frankston Waterfront

An ambitious Council

Our Priority Planning track record:

…and we’re open for business Frankston City Council has developed innovative programs to facilitate investment and support local business, whilst leveraging its lifestyle attributes.

Priority Planning

South East Water HQ Average processing days for delegated planning decisions

120

Planning applications located in Frankston’s Central Activities Area (CAA), or applications that demonstrate significant economic benefit are eligible to go through Council’s Priority Planning process (below).

To be located in Frankston’s city centre the landmark development will overlook Kananook Creek and Port Phillip Bay, with a public promenade activating the creek frontage.

The eight level building will house 700 staff, providing a groundbreaking economic boost for Frankston City.

Council worked with State Government to ensure the development was approved within South East Water’s required tight time frame.

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Council’s Planning Department is determined to be the best in Melbourne, with demonstrated improvement in processing times over a five-year period (refer table right).

The Peninsula on the Bay The redevelopment of the former Peninsula Centre in the CAA is a critical boost for Frankston.

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For the full Priority Planning guidelines, contact us at property@frankston.vic.gov.au or phone 1300 322 322.

2009/10 2010/11 2011/12 2012/13

Central Activities Area application & Applications demonstrating significant economic benefit

Council identified this development as a priority for Frankston City and streamlined the applications.

Airio Apartments

Streamlined

Fast-tracked

The nine level building will house the largest accommodation facility on the Mornington Peninsula, to be run by Quest Studios. The facility also has private apartments, serviced offices and a landmark restaurant and cafe, operated by renowned restaurateur, Paul Mathis.

MINOR APPLICATIONS

MAJOR APPLICATIONS

Fast-track Process

Stream 2 Process

- Further information not required - Notification not required - External referrals not required

- Applications without officer delegation - Application for development of three or more storeys - Applications with a development cost of $5 million or more

MODERATE APPLICATIONS Stream 1 Process - All other streamline applications

The 14 level apartment building in Frankston’s CAA was approved by Council following close consultation with the applicant and award winning architects, Denton Corker Marshall.

The development includes over 90 residential apartments, with a gymnasium and retail ground level.

This groundbreaking approval was the first development of its magnitude to be streamlined by Council.

By working directly with Council throughout the preapplication process, the developer was able to establish a design that satisfied the needs of all parties involved.

How Council can help Development feasibility service Frankston City Council offers a free assessment service to determine the development potential of your site. The service can also feed into Council’s Priority Planning process for properties in the city centre or applications that demonstrate significant economic benefit to Frankston City. The service includes local market analysis, site specific spatial analysis, brief and yield analysis and regulatory advice.

Business Development Council’s Build Your Business program allows businesses of all sizes to get ahead.

Businesses looking to start-up or relocate to Frankston City should contact Frankston City Council’s Economic Development Department to have a package specifically tailored to their needs.

Pre-application meetings Discussing your proposed development is critical to the Priority Planning process. Developers are encouraged to meet with Council about their proposal as early as possible to determine if it qualifies as a Priority Planning application and what stream it should fall under.

A multi award winning Council is putting Frankston City at the forefront.

Frankston Visitor Information Centre: Qantas Australian Tourism Awards Visitor Information and Services Category Winner 2012. RACV Tourism Awards - Visitor Information and Services Category winner 2012.

Finalist 2008, 2009, 2010, 2011.

Frankston TV: ALGA - National Awards for Local Government Innovative Infrastructure Category winner 2012.

Ironman Asia-Pacific Championships: Keep Australia Beautiful Victoria Community Government Partnership Category winner 2012.

Splash Card: ALGA - National Awards for Local Government - overall winner 2011. ALGA - National Awards for Local Government - Inspired Cities Category winner 2011. EDA - National Awards for Economic Development Excellence Marketing Strategy Category winner 2011.

Contact Frankston City Council’s Economic Development Department today to set up an appointment.

Focus on Frankston Photography Competition: Finalist 2009 - AMI Awards.

Finalist 2009 - Hall of Fame AMI Awards.

Email: property@frankston.vic.gov.au

Destination Frankston: Finalist - Consumer Insights 2008 AMI. Frankston Beach: Keep Australia Beautiful Victoria Awards Clean Beach of the Year winner 2011 and 2012. Clean Beaches Friendly Beach Award winner 2011.

Phone: +61 3 9784 1888 Property and Investment web site: www.worklifefrankston.com www.facebook.com/worklifefrankston http://twitter.com/wklifefrankston General Council web site: www.frankston.vic.gov.au

Frankston City, the preferred place to live, learn, work, visit and invest...

8 E: property@frankston.vic.gov.au

www.worklifefrankston.com