Permit-ready Frankston apartment site trades off-market
A sprawling low rise healthcare complex with a rooftop car park opposite Frankston Library has quietly sold for $9.1 million.
The Young Street Medical and Dental Centre was offered permit-ready for a 13 level, 146-unit apartment complex, controversially approved in 2024 by the Victorian Civil and Administrative Tribunal.
An Axon entity is the buyer.
It is unknown whether the group will proceed with redeveloping the Activity Centre 1 zoned 2536 square metre parcel, at the north east corner of Playne St, also near Peninsula University Hospital.
Franky Investments was the seller (continues below).
It was represented for the sale by Savills’ Julian Heatherich, Benson Zhou and Michael Lang.
Years ago the property, 89-97 Young St, was believed to have been held by interests associated with the Dendy Cinemas chain.
Frankston is a major metropolitan activity centre, c55 kilometres south east of Melbourne’s CBD.
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