Positioned directly opposite the sands of Frankston Beach and within the Frankston High School Zone, 543 Nepean Highway presents a substantial 1,701sqm (approx.) landholding offering immediate income and exceptional long-term potential (STCA).
A rare additional opportunity exists to secure the adjoining 545 Nepean Highway, representing a further 2,011sqm (approx.) of land and significantly expanding the overall scope and flexibility of the site.
The property comprises two separate dwellings, creating a unique opportunity to secure a significant coastal site while maintaining income during planning or design stages.
Dwelling One is a well proportioned four bedroom brick residence, featuring hardwood timber floors throughout, ducted heating, and a welcoming front veranda that captures beautiful afternoon sun. The home includes a functional kitchen with gas cooking, a central bathroom with separate toilet, and the convenience of a garage, offering comfortable accommodation and strong rental appeal.
The front residence is currently leased, returning $2,737 per calendar month.
The rear dwelling is currently occupied, with scope to formalise a lease arrangement should a purchaser wish.
From a development perspective, the scale and configuration of the land present compelling possibilities. The site could comfortably support the creation of a small collection of luxury coastal residences (STCA). Beyond its scale, the property carries a remarkable story tied closely to Frankston's early coastal character. Dwelling Two, built circa 1921, was constructed by two sisters who lived on neighbouring properties, with both homes remaining within the same family for the better part of a century.
Several original features remain as quiet reminders of that past. The beautiful herringbone timber ceiling within the main living area, originally the underside of a rooftop deck, has been carefully preserved and restored. The ceramic face of the original wood fired oven also remains intact, while the site's historic beer bottle retaining walls still exist behind the newly installed retaining structures at the rear of the property.
One of the site's most compelling attributes is its exceptional north facing aspect. The adjoining northern boundary is lush and cannot be built out, creating a rare opportunity to design a future residence or development that captures uninterrupted northern light, greenery and open outlooks. In a coastal setting where many sites sacrifice sunlight or privacy, this orientation provides a remarkable canvas for architecture that embraces natural light, landscape and outlook in equal measure.
The rear dwelling has also seen thoughtful improvements including Rylock double glazed windows, ABB digital home automation, and LED lighting throughout, undertaken as part of a careful restoration process with a long term view to preserving the character of the property.
Opportunities that combine scale, beachfront position, income and genuine historical significance are seldom seen in this tightly held pocket of Frankston.
543 Nepean Highway represents not only a remarkable holding today, but a site capable of shaping something truly special for the future.
