Transforming Bayside into the Mornington Peninsula’s lifestyle destination

A major redevelopment is underway to transform Bayside into the Mornington Peninsula’s lifestyle destination, connecting retail, business and leisure. The mixed-use development will bring modern workspace solutions and a curated mix of retail and dining to the community, ensuring Bayside meets the evolving needs of the community today and into the future.

More than 3,500 sqm will be reimagined as contemporary workspaces on level two of the centre, leveraging the retail and dining options at its doorstep. Office suites will deliver modern office space, with glazed panels to optimise natural light and a new office lobby, seamlessly bringing together a superior workspace and retail experience.

A new coworking space is visioned to follow, providing a range of facilities including individual desks, offices, private meeting rooms and event space. The level two transformation responds to the growing ‘work near home’ movement and the changing expectations of the community.

Guided by customer insights and growth trends, there is a vibrant retail reconfiguration underway that will deliver elevated homewares, athleisure and aspirational fashion precincts and a recharged entertainment, leisure and dining precinct to ensure Bayside continues to meet the evolving needs of the community. Stay tuned for new tenants to be announced soon, all curated for the Frankston community.

Office suites


We’re excited to announce that stage one of our level two development at Bayside is now complete, with ~1,200 sqm of modern office space, offering the ultimate in convenience and unbeatable amenities.


The second ~470sqm tenancy is now leasing. For more information please click here.

Station Street


Stay tuned as we unveil the new Station Street Precinct, an array of food and beverage, connecting Frankston’s laneways with Bayside Centre and Bayside Entertainment.

The Centre will be repainted and there will be new lighting, alfresco dining and streetscape improvements.

We can’t wait to bring you the new Station Street Precinct. A place to connect, meet friends and family for coffee, lunch and dinner. 



Complementing these significant centre upgrades is a suite of new speciality retailers that we are welcoming to Bayside.

Frequently Asked Questions

What is your vision for Bayside?

Our vision is to transform Bayside into the Peninsula’s lifestyle destination, connecting retail, business and leisure. The redevelopment will evolve precincts across Bayside to create a fully integrated, mixed-use destination with elevated retail offerings, increased amenities and state-of-the-art workspaces that meet the evolving needs and expectations of the community. This vision responds to evolving consumer preferences for an enhanced shopping experience, and convenience of well-connected offices that are close to home to facilitate the growing ‘work near home’ movement.

Does Vicinity need to purchase any additional land to bring the vision to life?

No. Vicinity owns the land that Bayside is located on. 

Why such a large project at Bayside, and why now?

Bayside is a key retail destination surrounded by a rapidly growing business and residential area. Identified as Metropolitan Activity Centre in Victorian Government’s Plan Melbourne 2017 to 2050, the time is now right to maximise the value of Bayside for customers, retailers and our business. Bayside’s transformation into a retail-led mixed-use precinct will capitalise on Frankston’s nearby rail and bus transport hubs, as well as its convenient location at the gateway to the Mornington Peninsula, well-served by major freeways, M3 and Peninsula Link.

COVID-19 has accelerated changing attitudes to work, progressing many businesses move to the ‘work near home’ model which requires more suburban-based high-quality office space. Vicinity is in a unique position to not only deliver high quality office space but also unbeatable office amenity with the convenience and easy transport links of a major shopping centre just next door.

What other developments are there in the area?

In addition to Vicinity’s investment in Bayside, the following local projects are underway: 

  • Frankston Hospital redevelopment - $1.1-billion redevelopment and expansion. Largest ever health infrastructure investment in Melbourne’s south-east. 12-storey tower expected to complete works in 2025. Located approximately 600 metres from Bayside. 
  • Chisholm TAFE Frankston - $66-million multi-level education facility expected to open mid-2023, follows an $85-million project to completely redevelop its current site. Chisholm sits adjacent to Bayside. 
What other mixed-use projects are you progressing?

We’re continuing to actively consider mixed-use additions like offices, hotels and residential to complement our existing retail offer, especially in locations where good transport connections already exist.  

In Melbourne we’re progressing planning at Victoria Gardens, Richmond, for both a retail expansion and mixed-use development opportunity, while at Chadstone we will continue to build our mixed-use precinct with One Middle Road. 

Additionally, in Sydney we have released plans to transform Bankstown Central with a retail refresh, office space and residential towers, and in Queensland, at Buranda Village we plan to develop the site into a retail, residential and commercial office village for the community to enjoy every day of the week. 

Find out more about our development pipeline here 

What projects are included in the development works at Bayside?

The development involves three simultaneous projects: 

Premium office suites introduction of completely new office suites,  situated above the retail centre, offering the ultimate in convenience and unbeatable amenities.  

Myer backfill – Myer will exit Bayside in Jan 2023, leaving behind a significant space across GF, L1, L2, which will be reimagined with new retailers, coworking space and services carefully curated for the evolving Frankston community.  

12 Balmoral Walk – construction of an eight-storey, state-of-the-art, A-grade commercial office building able to cater for up to 1,400 office workers. 

Other works at Bayside that will contribute to the transformation include activated laneways surrounding the centre and ambience upgrades to improve the end-to-end experience. 

What is the total development cost of the Bayside projects?

We are working closely with local and state planning, the local community and retailers, to clearly define the total development scope. We will release further figures around the total development when these projects are further progressed in planning. 

What height are the buildings?

The new 12 Balmoral Walk Commercial office building height-will be eight levels, approx.42 metres  

Do any of the buildings set a new height precedent for Frankston?

No, Frankston Hospital is 12-storeys high whereas 12 Balmoral Walk is just eight. 

How many jobs will the project create?

Vicinity’s redevelopment of Bayside will generate more 210 jobs and more than $50 million of value add to the local economy during construction. Once completed, the development will bring more than 1,400 jobs to the refreshed Bayside centre. 

What are the project financials?

It’s too early to discuss project financials however we will only pursue projects when it makes commercial sense to do so.  

How long will construction take?

We anticipate the projects could be developed over a three-year period. 

Premium Office Suites 

Stage 1 will be complete in Q1 2023 of the 1,171sqm in this space, 700sqm is already under lease negotiation and 471sqm now leasing. 

An additional ~3,300sqm of office suites will follow, with commencement subject to market demand. 

Myer Backfill (incl Co-working) 

Commencement in Feb 2023 with the first tenants opening in November 2023.  

12 Balmoral Walk 

Commencement will be subject to securing an anchor tenant (currently in market leasing now). Construction durations approx. 18 months.  

Further information will be provided as these projects progress. 

What impact will the work have on trading?

All steps will be taken to minimise disruption to retailer, customers and the community during the Bayside transformation, and the centre will remain open. 

We will continue to work closely with retailers who may be impacted during this development.  

What is the status of the Development Applications (DAs)?

We have received all relevant approvals.

When do you expect work to start?

Construction has started at Bayside, with the development of office suites on level two underway.  

Commencement on the Myer Backfill re-development will start in February 2023. 

Commencement of 12 Balmoral Walk will be subject to securing an anchor tenant. We are current in market leasing.  

Will you introduce free parking for customers at the centre?

Due to Bayside’s location within a key transport hub, controlled parking ensures that commuters are not occupying customer parking spaces at the centre and means there are ample parking spaces available for Bayside customers to use when they visit. Controlled parking also helps us maintain security, lighting and cleaning of the car park. Our parking strategy at Bayside is operating well and is not under consideration.  

Will you have extra parking for office workers?

Yes, the approved 12 Balmoral Walk development allows for a total of 421 car spaces to be allocated for office workers; 85 basement spaces in addition to 336 allocated spaces within the existing Shopping Centre.   

In total, Bayside has over 3,400 car park spaces while also being conveniently located for public transport including bus and rail. We are also introducing leading End of Trip facilities to 12 Balmoral Walk and co-working space to encourage sustainable commuting, alleviating car park congestion and reducing emissions.  

How can customers and the local community have their say about the project?

Local residents and regular Bayside shoppers have been involved in the planning process. We have the opportunity for the local community to provide feedback via email and centre management open days.

Have the Traditional Custodians of the land been engaged in this process?

We engaged the Traditional Custodians in the early planning phase for the 12 Balmoral Walk development. The Bunurong Land Council have provided a cultural values report, which gave permission for local indigenous art and stories to be used in design.

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