REAL VALUE

IF you think real estate in Frankston is already hot property, wait till you step inside the box.

While buyers are finding huge value in housing and development in this satellite city, interest also extends to its shorelines and beach boxes.

In its latest real estate boom, Bathing Box 10 on Frankston foreshore sold in mid-November for $165,000 with a starting bid at $100,000 for this brightly coloured weatherboard asset.

The coveted beachfront six metre by four metre box is only six years old and was a collaborative project between Frankston City Council and the Rotary Club of Frankston Sunrise.

Another recent real-estate bargain was for a fire-damaged uninhabitable house in Frankston which sold for $245,000 – a whopping $105,000 above its reserve.

Five active bidders fought it out for the block, with most interested parties being builders and developers looking to rebuild; the investor with the keys is planning to build a house on the site to add to his portfolio.

With in-person inspections firing up again, more gems are expected to pop up in the Frankston City property market, so be sure to keep your keen eye peeled for an investment jackpot.

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