A landmark residential project proposed for Frankston could trigger a property boom.

Peninsula Project Group says its Allure Bayside development, at 10-12 Davey St, will be first high-rise residential development in the Bayside/Mornington Peninsula region, and with the area primed for growth it’s unlikely to be the last.

The 14-storey development will include 77 one, two and three-bedroom luxury apartments and penthouses above a single-level podium incorporating existing heritage buildings, with a four-level basement carpark below.  One heritage façade will contain a gymnasium, golf and yoga room, the other incorporating café space with a garden terrace.

“The hero of these apartments is the bay views from the Melbourne CBD to Sorrento,” a PPG spokesman said.  “This sets Allure Bayside apart from other similar priced low-rise apartment buildings in the area.

“Now is the time to invest in Frankston property, while property prices are still low, rental demand is high and property value is only just commencing its incline. The trick is to invest in areas that have not yet experienced their property ‘boom’. This is where property owners will make significant returns.”

Forty-five per cent of the apartments have already been sold, mostly to owner-occupiers. Construction is forecast to start in May.

PENINSULA PROJECT GROUP
A: 10-12 Davey St, Frankston
T: 1300 336 542
E: [email protected]
W: www.allurebayside.com.au