Frankston on the up

neeko

neeko

As ive just heard a new multi story building will be built right in the centre of frankston right next to maccas on the nepean hwy. it will have apartments restaurants and office in the complex . The development site at 446-450 nepean hwy will be one more of many renovations for frankston including the new deck bar which overlooks port phillip bay and whoch will cater for 500 patrons

And these peopke doing these developments ARE local people who see frankston having alot of potential.
 
There's been steady improvements going on there for several years now.

Still too high a representation of feral skankdom though for it to shake off the stigma any time soon.
 
Spiderman said:
Dimmeys: Gone (to much smaller premises)
Spotlight: Gone
Lincraft: Gone
Savers: Gone

All these were major CBD floor space users.

Is anything taking their place?
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Savers gone?

I was there only six weeks ago and the escalators didn't work. Got in the lift and it almost chopped me in two

Wonder if we will see some big business move down to frankston in the coming years? Property is cheap and it wouldn't be that hard to get good employees
 
havent you all seen that where dimmeys is a new carpark.on the other side there is a major apartment complex going up & on davey st airio apartments are underway

frankston definately on the move and local investments are pouring in!!!!! everyones seeing the potential. to all those shallow people i pity the fool


  • Local developers pouring money in.
  • New cafes left right & centre
  • FCC pouring money in
  • The new deck restaurant (and been a major hit since its arrival!!!)
  • New SEW (south East Water) headquarters moved in frankston
  • Airio Apartments and the new apartments being tendered for next to maccas on nepean hwy (where pint & pickle used to be)
  • The New $50M aquatics pool on frankston / cranny rd.

Also the marina still in talk but been told it looks like a goer for sure.


Frankston is definately seeing big changes already
 
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neeko said:
Also the marina still in talk but been told it looks like a goer for sure. Frankston is definately seeing big changes already
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Frankston is definitely a strong buy, especially at the lower end of the market. Plenty of dual occ sites selling for pennies.

Slowly but surely, the bogans are moving out of Frankston, headed inland. It may take a few years but this suburb is definitely undervalued.

I own a Frankston house that is subdivisible. Easy enough to build another house in the back when plans and permits are approved. It cost me less than $300,000. Yields 5%.
 
Frankston may be on the up, but so is all of Victoria right now. Yes, it's a cheap suburb but I'm inclined to disagree that it is an out performing area on the basis of past performance.

Let's look at that shall we?

Frankston over the last 10 years has returned a gross capital growth of 4.7%, with a total return of ~9.5%. This is poor.

I'd suggest that a property should return at least, more than 11% overall with at least a 7% CG, or 7% yield depending on your focus/strategy.

Buying and holding in Frankston for CG/Yield doesn't make financial sense. The forward predictions for the next 5-8 years are 2% - 3% which is below Greater Melbourne...

If an investor wants to be active and subdivide and/or develop properties, this area can work. Ultimately, that is the only reason the suburb should be considered by investors... Or perhaps someone who is on a high income can buy something new to save tax dollars :p

See attached report courtesy of Residex.
 

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neeko said:
I certainly do!
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My wife works at Franga's Hospital a couple of shifts per week, and we go through Frangers regularly.

It's still full of sub-humans - from both our observations.

This'd be why the values there aren't moving as Jake pointed out.

The higher-end humans won't move next to skanks.

South Frangers is a different story, of course.
 
BayView said:
My wife works at Franga's Hospital a couple of shifts per week, and we go through Frangers regularly. but you dont live there, bit hypocritcal dont you think????

It's still full of sub-humans - from both our observations. thats YOUR observation, not someone elses.

This'd be why the values there aren't moving as Jake pointed out. whats that got to do people and values? what a crock a ****, so brighton is so expensive cause all the smart people live there. what a joke.

The higher-end humans won't move next to skanks. id beg to differ. media will make frankston look better than it is.

South Frangers is a different story, of course.oh cause its "on the hill"
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so tell me about frankston north then, must be some real slum living there...? dont judge a book by its cover.
 
neeko said:
and that shows a shallow mind. how sad
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Not really. Frankston doesn't have a good reputation for a reason. People tend to talk it up because 'it is cheap' and is 'bayside' but apart from that people like Bayview (and myself) wouldn't buy there for the demographic reasons. It's not about being shallow minded - you can buy there if you wish, but others choose not to.
 
Aaron_C said:
Not really. Frankston doesn't have a good reputation for a reason. People tend to talk it up because 'it is cheap' and is 'bayside' but apart from that people like Bayview (and myself) wouldn't buy there for the demographic reasons. It's not about being shallow minded - you can buy there if you wish, but others choose not to.
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either does footscray, brunswick or melton so what? remember when chelsea was like this also? chelsea was the roughest area going around many years ago. its people that think frankston wont change are the people who are the ones that have the shallow minds and i pity the fool indeed.

seaford 10 years ago was a mega dodgy!!! look at it now bloody expensive to buy on any side of it! youve got all the poshies moving into seaford sipping on their "lattes" and clogging up all the cafes on a sunday morning.
 
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Frankston reminds me of Armadale in Perth, which coincidentally you can purchase subdividable blocks for circa $300k with 5%+ yields. Now I haven't spent much time around Frankston but Armadale is a hole, and even with the Armadale Redevelopment Authority injecting money into it, the bad reputation is still there and so too are those duplex blocks for $300k..
 
neeko said:
so tell me about frankston north then, must be some real slum living there...? dont judge a book by its cover.
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Hey, dude; why are you taking it so personally? Chill out.

My SIL lived in The Pines for about 10 years, until last year...absolutely dead centre of "car wreck front yard-ville".

She subdivided her block, sold the block to a builder, and sold the house.

She then moved to Bali a year ago with her husband. Still there, and won't be back.

I know The Pines quite well.

We also had a unit ourselves in Frangers Central until last June.

We bought it in 2003, for $155k, and sold it in June 2012 for $213k.

So, like Jake said; not a lot of cap growth compared to other places.

I generalise about Frangers being full of skanks, but the element of the lower end (of humans) is still strong in my opinion.

I didn't say there aren't some good points about the place, however.

Incidentally; I worked in the Fangers Hospital ICU for 3 odd years.
 
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Aaron_C said:
Neeko - the view held by Bayview is very common....perception is reality in Sales.
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My view is not the same as the folks who only hear about Frangers on the teev.

The frickin media are just as much to blame for the perception. When was the last time you heard a good piece of news on the teev or radio about Frangers Hospital - which in my opinion is a bloody good public hospital.

Only ever hear crap like; they have no beds, the waiting lists are huge, someone got a wrong dose and other gems. They never mention that every welfare recipient under the sun treats the ER like a bulk bill medical clinic. That's where a large chunk of the problem is - the other half is they can't get nurses, so they can't staff beds, so beds stay empty, so folks have to wait. Simple.

Most on this site have never been to Frangers, but slag me for having a crack at the place.

Suit yerselves.

But it's true; the perception of a place will affect sales.
 
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