Southbank Properties

SouthbankSouthbank is one of Melbourne’s leading arts, cultural and leisure precincts. Nearly all of Melbourne’s major performing arts venues and galleries are located here, making Southbank an area that’s loved by locals and visitors alike. This densely populated suburb is a strong drawcard for many young people seeking a convenient location to live; its proximity to the CBD, transport options and wealth of lively cafes, bars and restaurants make it an appealing place to invest or rent.

Population

This densely populated suburb has grown significantly in recent years; since 2001 Southbank grew over 84 per cent and now has a population of 10,500. The vast majority of these residents live in high-rise apartments, with one of the world’s tallest residential buildings, the Eureka Tower, located in Southbank. ‘South Wharf’, a new suburb created in 2008, comprises the western section of Southbank. It is currently in development, but this relaxing waterside location is soon to be developed with hotels, shops and more.
Most residents are aged between 20-34 years, and usually live alone or in a couple. Nearly half (47%) of all residents were born overseas. Well over half (64%) of residents are renters, a strong sign that Southbank property is interesting to many investors.

Location

Covering over 2 square kilometres, Southbank is bordered by the Yarra River to the north, to the south by Park Street, Clarendon Street to the west, as well as an extensive network of major parks and gardens to the east.

Transport

A number of main roads run through Southbank, making it one of the most connected suburbs in Melbourne. The Westgate Freeway runs along its southern border, and other major arterials include Kings Way, Clarendon Street and City Road. Five major tramlines run through the suburb, and the Southbank Promenade forms part of the Capital City Bicycle Trail. Flinders Street Railway Station, the central hub of Melbourne’s transport system, is a 5-minute walk from Southbank.

Lifestyle

With the Arts Centre Spire as its centrepiece, Southbank is home to most of Melbourne’s performing arts and entertainment venues, including Hamer Hall, The Arts Centre, NGV International, Melbourne Theatre Company, Melbourne Recital Centre, Malthouse Theatre, Australian Centre for Contemporary Art (ACCA) and the Sidney Myer Music Bowl. Southbank is also home to the Australian Ballet and the ABC headquarters.

Southbank Promenade is the central retail and restaurant hub of the suburb. The area contains hundreds of cafes, shops and restaurants, as well as apartments, hotels and the Crown Casino.