Inventive. Invigorating. Dynamic. Different.
Frankston City is changing. With purpose designed initiatives successfully supporting and encouraging businesses of all kinds, Frankston City has emerged as the ideal location to live, work, learn and play.
The city has been experiencing significant capital investment over the last few years, benefiting from catalyst investments, including a major $63 million rail station and streetscape upgrade, new tertiary education facilities and the new $80 million HQ for utility South East Water.
There has been renewed interest from developers of multi-level mixed-use developments and new hospitality and retail entrants are enhancing the vibrancy of the central city.
Co-working spaces are on the rise and more investors are looking to expand their office accommodations.
The nearby Carrum Downs Industrial Estate has been a runaway success, with a number of significant local and multi-national businesses based there. Further developments are due to start, providing additional modern industrial space for occupiers to lease or buy.
The $160 million Karingal Hub Shopping Centre redevelopment has commenced transforming the centre into a shopping, dining and entertainment destination for Frankston and the Mornington Peninsula.
Karingal Hub owners, ISPT, have partnered with ProBuild to deliver the expansion which will add approximately 30 per cent of additional floor space including three supermarkets (Woolworths, Coles and Aldi), a market-style fresh food precinct, 150 specialty retailers and a vibrant dining and entertainment precinct.
With a fast-growing skilled local workforce of over, 45,000 and an economy that generates over $6.2 billion per annum, the city has a bright future, why not take a closer look.
Frankston City’s economy, like all cities nationally and globally, has been significantly impacted by the pandemic. However, as we all move into the recovery phase, the city’s strong, dynamic and inventive economy is on the mend and ready to bounce back.
Frankston City is still known as the Lifestyle Capitol of Victoria and plentiful opportunity for growth and investment continues.
Many businesses during this difficult time have adapted to change and have actually thrived during this crisis, turning adversity into productivity. Developments are still going ahead as planned and the recently endorsed Frankston City Council $6.434 million Relief and Recovery Package will help provide many businesses with security, solidity and even opportunity to grow post pandemic.
Supporting our Economy and Employment
Rebuilding a strong local economy will be vital to Frankston City’s ongoing recovery, ultimately having a positive knock on effect to individual and community recovery. Council’s support includes, but is not limited to:
- An additional $270,000 pool of ‘fast grants’ for business directly impacted by COVID-19, increasing the total Council Business Grant Program pool to $450,000
- More than $50,000 in outreach support, information and tools for local businesses to help them plan, prepare, adapt, upskill and communicate to their customers
- Council has moved forward our supplier payment dates, to ensure suppliers are receiving payment as quickly as possible to help with cash flow
- $130,000 in rent relief to business operators within Council owned buildings
- $40,000 to develop loyalty programs targeting local business and buy-local marketing campaigns.
- Up to two hours free parking, in Council owned and managed city centre off-street car parks (commencing 1 July 2020)
- Waiving around $160,000 worth of operational fees such as Food Act registration and kerbside trading fees
Invest Frankston work to actively facilitate investment with the underlying aim of employment creation and street activation.
Council is keen to hear from businesses or commercial property investors and developers who are interested in establishing a new business in Frankston or undertaking a new development.
If you are considering an investment in Frankston, please complete the online form linked below:
Property Investment Updates and News
There are a number of ways you can stay updated and informed about the latest Invest Frankston news, resources, support services, programs and grants.
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Business Program and Mentoring
Frankston City Council
30 Davey Street
PO Box 490
P. 1300 322 322
F. 03 9784 1094