The promenade has many cafes, restaurants, shops, upmarket hotels, offices, public art and modern apartments. The variety and spectacular city views make it a popular place for locals and visitors to drink, dine, stroll and watch the occasional street performer.
Southbank is an important cultural hub and home to:
- Melbourne Arts Centre
- Hamer Hall
- Melbourne Recital Centre
- National Gallery of Victoria
- Malthouse Theatre
- Australian Centre for Contemporary Art
- Victorian College of the Arts.
Significant and rapid residential development has occurred in Southbank and the population has skyrocketed. The vast majority of residents live in high-rise apartments, the tallest of which is the 300 metre tall Eureka Tower. The 92-level tower is one of the world’s tallest solely residential buildings.
This is ideal for single professional working in the city or small families. Location is A+ : Transport options, accessibility [ most people just walk to work], entertainment, eating out, etc are all excellent.
This being on the fringe of the CBD makes it accessible yet not as busy as living in the city center itself.
Parks are close by, lots of attractions in the boulevard close by as well.
Average weekly rents on listings have reached the $421 mark, reflecting a 4.05% increase in returns based on the current median price in SOUTHBANK.
Weekly media advert: $421
Time on Market: 77.9 days
Gross Rental Yield Percent: 4.05%