Real Estate

frankston wedding chapel seeks cashed up suitor

Written by The ReReport

A LONG-neglected wedding chapel in a prime Frankston spot has been renovated and restored ahead of being sent to auction.
The 500sq m 51/325 Nepean Highway site has two levels and 10 parking spaces.
It is adjacent to a former reception centre and the former Ambassador Hotel turned apartment block.

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Is this Victoria’s most fun rental?

The site looks across the water.

51 325 Nepean Highway FrankstonThe decorative windows have been retained.

Last purchased in March 2017 by investors for $462,000, the property has been renovated and fitted out to suit a variety of uses.
It also sold in 2009 for $440,000 and the vendors are seeking a sale in the $1.25 million price range.
“This is a unique offering and the property had been vacant and dilapidated for some years,” Hocking Stuart Frankston agent Anthony Sansalone said.
“The owners have retained the shape of the building and also the original decorative windows.”
Mr Sansalone said the double-storey building had multiple uses and now had a separate title to the former reception centre.

51 325 Nepean Highway FrankstonThe space could be turned into medical or professional suites.

It could be used as a wedding chapel, medical suites or offices to take advantage of a central location close to shopping, the foreshore, train station and amenities.
Mr Sansalone said the site was an iconic landmark at the gateway to Frankston, and came with main road exposure and features such as a winding staircase with decorative windows.
Seven of the parking spaces are covered and the property can return $90,000 a year with low overheads.
It heads to auction on October 20.

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