Karingal revitalisation accelerated with $5m redevelopment
Published on 01 August 2025
Frankston City’s transformation into a thriving investment destination continues, with Nivad Property Group commencing Stage 1 of a $5 million redevelopment of The Karingal Village shopping strip at 110 Ashleigh Avenue.
The two-stage project will deliver a vibrant new precinct featuring fresh food, services, dining and entertainment – all centred around a revitalised communal mall and public space.
Frankston City Mayor Kris Bolam said Council’s proactive planning and investment attraction initiatives have helped position the city as a magnet for high-value investment.
“Council identified improvement opportunities for Karingal Village in our 2021 Local Shopping Strip Action Plan, but these plans from Nivad Property Group far exceed our expectations,” Mayor Bolam said.
“This is yet another significant private investment in Frankston – a clear sign of our ongoing evolution as a major commercial centre and one of Victoria’s most promising investment destinations.”
Stage one works include internal and external alterations to the Karingal Village shopping centre to create 12 new commercial spaces.
Stage two works will see the addition of new ground floor retail, undercover parking and a first-floor early learning centre built within the existing car park.
Mayor Bolam said investor confidence in Frankston is on the rise, with several major private sector projects gathering momentum.
Contact: Matthew Mollett, Matthew.Mollett@frankston.vic.gov.au
“Just up the road in Seaford, Brix Property Group and Costa Asset Management are progressing with the Compass Business Park at 300 Frankston-Dandenong Road. These kinds of projects show that investors are not only backing Frankston’s future – they’re helping build it,” he said.
Frankston Business Collective CEO Bernadine Geary said the redevelopment of Karingal Village was a powerful signal of confidence in Frankston’s future.
“It’s more than just a construction project — it’s a clear investment in local jobs, innovation, and community vibrancy. This bold vision not only revitalises a key precinct but signals a broader shift toward Frankston becoming a dynamic economic centre — a place where businesses flourish, communities thrive, and new ideas take root,” she said.
Frankston City is home to 23 local shopping strips across Frankston, Frankston North, Frankston South, Langwarrin and Seaford – each acting as a key community hub and investment opportunity.
While the Karingal Village redevelopment is privately led, Council continues to play a vital advocacy and community support role.
“Residents were concerned the local post office would be lost in the redevelopment, but we’ve worked closely with the developer to ensure it stays – and moves into a larger tenancy within the site,” Mayor Bolam said.
“We’ve also secured several new retailers to be announced shortly, and ensured existing businesses can continue trading throughout the works.”
Council has recently completed safety and landscaping improvements at the nearby intersection at Skye Road, Onkara Street and Carramar Drive, including raised pedestrian crossing, and relocated school crossing and installed CCTV coverage at key locations along Ashleigh Avene.
For more information, visit:
https://hubpropertygroup.com.au/projects/karingal-village-shopping-centre