804/1 Plowman Place, Frankston VIC 3199
804/1 Plowman Place, Frankston VIC 3199
3 bed 3 car luxury apartment | Horizon completed 2024 | resort amenity | Frankston High zone | bay proximity
This unit is an unusually large, new apartment for Frankston, offering three bedrooms and three car spaces in a recently completed premium building. Its size, secure basement parking, and access to a resort-style amenity deck make it a rare product in a suburb dominated by older detached houses and modest units. The building’s design and finish standard, combined with the Frankston High School catchment and the short walk to the bay and town centre, position this as a low-maintenance lifestyle purchase best suited to downsizers, school-zone buyers, or owner-occupiers seeking a lock-and-leave home without sacrificing space.
Value may be most influenced by the floor level, aspect, and whether the unit captures bay or city views, as larger apartments in this development have shown a wide range. The three-car allocation is a distinct advantage, but ongoing strata fees for a full-amenity building should be weighed carefully. Demand might soften if the current premium for new, amenity-rich stock cools, but the combination of size, parking, and the school zone is likely to hold interest from a specific buyer pool.
Detailed Independent Property Report prepared by PropCred Analyst team for 804/1 Plowman Place, Frankston VIC 3199
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Frankston, 40km south-east of Melbourne’s CBD, is a bayside centre anchored by the Bayside Shopping Centre and a heavily visited beachfront. Demand is strong, with houses selling in a median 15 days and units in 22, supported by 676 house and 463 unit sales in the past year. House prices have risen sharply, with medians between $825,000 and $838,000 and annual growth of 11.5–14.8%; units sit at $565,000–$577,500, growing 6.2–6.9%. Weekly rents are $580–$590 for houses and $480–$490 for units, producing gross yields of 3.7% for houses and 4.5–4.6% for units. The retail and beach infrastructure, alongside the sub-$600,000 unit entry point, underpins future demand.
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PropCred Estimated Value
Comparable Sales: 704/1 Plowman Place sold at $2.1M; 507/1 Plowman Place sold at $595K | Property Price Band: $1.3M–$1.4M | Value Drivers: floor level, bay views, three car spaces
Bedrooms
3
Bathroom
2
Parking
3
Land
2017m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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