Castlerock celebrates structural completion of Frankston project

Narrowly avoiding an afternoon rain shower, the Castlerock team and valued partners stood together with their high-vis vests and hard hats to celebrate the topping out of our five story, 7,650m², state-of-the-art office building at 383 Nepean Highway, Frankston.

The top out milestone, a celebrated tradition in construction, marked the structural completion of the project and signified a significant leap forward for this environmentally sustainable development set to transform the Frankston CBD. The gathering buzzed with excitement and a sense of achievement, highlighting the importance of this pivotal moment.

Adam Bronts, Castlerock’s Director of Business Development, shared his excitement about the project’s progress. "We are excited about the future phases of this development and the positive impact it will have on Frankston’s community. We are currently on track for the grand opening in March 2025, having secured a long-term lease agreement with the Victorian State Government."

State Member for Frankston, Paul Edbrooke, attended the ceremony and emphasised the benefits for the local community. “It’s fantastic to witness the progress of the development and the future opportunities this will bring for the community, including generating investment and creating local employment opportunities.”

Our ongoing commitment to partnering with local communities and traditional owners continues through this project. In collaboration with the Bunurong Land Council, we are incorporating culturally significant visual installations into the project to honour the traditional stories and rich history of the area. Instead of the top out tradition which sees a pine tree hung upside down, we have chosen a native Banksia plant which is currently being cared for onsite and will be planted at the end of the construction phase.

This asset is the latest addition to our Castlerock Government Property Fund, which currently includes 13 high-quality State and Commonwealth Government-leased properties, managing a total of $526 million in assets.

To find out more about the Castlerock Government Property Fund, visit https://www.castlerockproperty.com.au/funds/castlerock-government-property-fund.