RACV Reaps $2 Million From Frankston South Site Sale

THE Royal Automobile Club of Victoria is some $2 million richer, after selling a 9711 square metre development site in Frankston South (pictured, right).

The undeveloped block at 6 Robinsons Road sold to an investor, and is expected to make way for a residential redevelopment in the medium to long term.

The asset derives annual rent of $110,000 from leases to five telecommunication companies. It’s next door to the Village Baxter retirement village and a caravan park and is close to what will be an onramp to the $759 million Peninsula Link freeway, which is under construction.

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