While South Bank generally refers to the collection of suburbs south of a river that dissects the city (think Brisbane or London), Melbourne's Southbank is a suburb in its own right, and it's arguably the most connected suburb in the whole of Melbourne.

Given its proximity to the city and the river, it's no surprise that the near-12,000 apartments make up over 98 per cent of dwellings in the 3006 postcode, the 2021 ABS Census showed.

Private investment from the commercial, retail, and hospitality sectors has matched the increase in density and population, turning Southbank into one of the city's most vibrant residential and cultural hubs, right on the Yarra River. The focal point of <a href="https://www.urban.com.au/new-apartments/southbank-vic-3006">Southbank</a> is the casino Crown Melbourne, having stood just off the river for the best part of two decades, while the Melbourne Arts Centre and the National Gallery of Victoria are also key destinations.

It wasn't until the 1990s when the suburb began its development, having predominantly been a commercial and industrial area. Now skyscrapers line the skyline.

Just over two decades ago, work began on <a href="https://www.urban.com.au/buildings/eureka-tower-7-riverside-quay-southbank">Eureka Tower</a>, which by the time it completed in 2006, was the tallest residential building in the southern hemisphere at nearly 300 metres, putting Southbank on the global map.

That was topped in 2020 when the 317-metre <a href="https://www.urban.com.au/buildings/australia-108-southbank-70-southbank-boulevard-southbank">Australia 108</a> was completed. Australia 108, only 200 metres from the front door of Eureka, comprises 1105 apartments across a 100-level building.

[smartcode_project:default project_id=582 project_image_fid=182857]

It was one of the first crop of towers with upscaled resident amenities, a trend which we've seen only grow in the last five years.

The building boasts two exclusive resident grand lobbies with lounges and a hotel-style porte-cochere. The Sky Rise Club features a heated indoor swimming pool, a sauna, a fully equipped gym, a theatre, a grand dining room, and a virtual golf room.

The Star Club, on Levels 70 and 71 and reserved for owners of the more premium apartments, features double-height, full glass infinity pools with spa facilities, along with two state-of-the-art gyms, dining rooms, expansive lounge rooms, a reading room, a private cinema, and a sky garden.

[smartcode_project:default project_id=582 project_image_fid=182879]

&nbsp;

One of the newest tower developments in development in Southbank is <a href="https://www.urban.com.au/new-apartments/sth-bnk-by-beulah-southbank-60-southbank-boulevard-southbank">STH BNK by Beulah</a>. One of the two towers, at 366 metres, will be the tallest in Australia.

The 367-apartment development has already seen records shattered after it hit the market last year.&nbsp;A penthouse broke the Melbourne off the plan apartment record when it sold for $35 million, only to be topped by a sub penthouse <a href="https://www.urban.com.au/news/vic/sth-bnk-by-beulah-breaks-melbourne-apartment-record-again">that sold for $38 million</a>.

At the heart of&nbsp;<a href="https://www.urban.com.au/new-apartments/sth-bnk-by-beulah-60-southbank-boulevard-southbank">STH BNK by Beulah</a>&nbsp;will be the world’s tallest ‘greenscraper’—promising a green, active and connected urban environment with the future of retail innovation, customised hospitality, fresh food perspectives, cultural experiences, and vitality and wellness at its core.

A wellness precinct, located on an entire podium level in&nbsp;<a href="https://www.urban.com.au/new-apartments/sth-bnk-by-beulah-60-southbank-boulevard-southbank">STH BNK by Beulah</a>, is designed to be the city's world-class, all-in-one health and wellness destination backed by science's leading practices.

[smartcode_project:default project_id=8804 project_image_fid=221153]

International developer&nbsp;<a href="https://www.urban.com.au/developers/osk-property">OSK Property</a>&nbsp;is also working on one of the largest mixed-use precincts in Melbourne nearby.

<a href="https://www.urban.com.au/buildings/melbourne-square-93-119-kavanagh-street-southbank">Melbourne Square</a>, across an unrepeatable two-hectare site on City Road above Melbourne’s internationally acclaimed Arts Precinct, is well into its development, with two towers already completed and ready to move in.

[smartcode_project:default project_id=107714 project_image_fid=211867]

Currently under construction is <a href="https://www.urban.com.au/new-apartments/blvd-at-melbourne-square-19-hoff-boulevard-southbank">BLVD</a>, the latest stage which offers just over 600 apartments across a 74-level tower littered with facilities like&nbsp;private dining rooms, state-of-the-art gyms, a 25m indoor swimming pool, spa, sauna, golf simulator, entertainment and lounge spaces, and a double-storey co-working area on levels 55 and 56.&nbsp;

Multiplex is building BLVD, which is slated for completion in early 2028.

[smartcode_project:default project_id=2929 project_image_fid=201012]

While precedent has been set for towers getting up to 100 levels, not every development in Southbank is reaching that high into the sky.

Almost boutique at 62-levels is The Queensbridge Building by Time &amp; Place, under construction on Queensbridge Street, just one street back from Crown Melbourne.

<a href="https://www.urban.com.au/new-apartments/the-queensbridge-building-southbank-90-queensbridge-street-southbank">The Queensbridge Building</a> will have 367 apartments which will share the building with the 188-room Hannah St. Hotel, operated by TFE Hotels.

[smartcode_project:default project_id=1504 project_image_fid=272071]

Only a handful of developments have completed in recent years. Central Equity's FOCUS is Melbourne's most awarded high-rise development in 2023.

<a href="https://www.urban.com.au/buildings/focus-melbourne-81-city-road-southbank">FOCUS</a>, rising 50 levels near on City Road, won the&nbsp;prestigious Victorian Housing Award from the HIA, and also a coveted UDIA Victoria Award for Excellence.

[smartcode_project:default project_id=3260 project_image_fid=206139]

The $450 million FOCUS Melbourne comprises a&nbsp;mix of one, two, and three-bedroom apartments.

International developer Landence also recently completed its slice of Southbank. <a href="https://www.urban.com.au/buildings/the-evermore-southbank-58-66-dorcas-street-southbank">The Evermore</a>, a two-tower development designed by Hayball closer to the Botanic Gardens than the Yarra River, has over 50 different floorplans for buyers to choose from.

There are 366 one, two and three-bedroom apartments in The Evermore, atop a&nbsp;podium level housing upscale retail spaces.

[smartcode_project:default project_id=2087 project_image_fid=237888]

Enquiry for apartments in Southbank on Urban.com.au has been dominated by&nbsp;first home buyers since the start of 2024.

They represent 46 per cent of enquiry in Southbank this year, followed by those buying their next home (34 per cent), and then investors (20 per cent).

Project searches in Southbank spiked by nearly 60 per cent from September to October, wih enquiry also jumping by 75 per cent.

&nbsp;

Joel Robinson

Southbank’s skyline evolution: The rise of new apartment living on the Yarra River

Buyers are set for an unreaptable selection of incentives at Aqualand's latest luxury apartment development, <a href="https://www.urban.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney">AURA by Aqualand</a> in <a href="https://www.urban.com.au/developments/north-sydney-nsw-2060">North Sydney</a>.

To celebrate its 10th birthday, Aqualand has revealed 10 curated incentives and offers worth over $10 million for buyers before November 30.

The variouses bonuses, subject to which type of apartment is purchased, could include:

<ul>
	<li>a 2.5% deposit on exchange&nbsp;</li>
	<li>a stamp duty rebate&nbsp;</li>
	<li>3% mortgage interest rate cover for up to two years&nbsp;</li>
	<li>5% rental guarantee for two years&nbsp;</li>
	<li>strata levy cover for three years&nbsp;</li>
	<li>assistance with selling costs on existing property&nbsp;</li>
	<li>a generous Etymon hospitality dining voucher&nbsp;</li>
	<li>a premium six-star ‘Black Key’ Etymon Concierge service for three years&nbsp;</li>
	<li>a free interior design and furniture package&nbsp;</li>
	<li>a complimentary white glove relocation service&nbsp;</li>
</ul>

Aqualand’s Head of Sales &amp; Marketing, Alex Adams, said the never-before-seen opportunity is designed to remove common purchasing barriers, or to make securing their new home in AURA easier.

"Some may wish to have us pay three per cent of their mortgage interest rate, or reduce their deposit on exchange, or others may elect to elevate their new luxury lifestyle even more with amazing dining vouchers at our world-class Etymon venues or take advantage of our incredible Black Key concierge service. &nbsp;

“Since Aqualand’s inception in 2014 we’ve actively given back to the people of Sydney through our generous contributions to arts and culture, most notably through our ongoing partnerships with the Art Gallery of NSW, Sculptures by the Sea, Bondi and the South Sydney Rabbitohs. &nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292893]

“We’re incredibly excited to now share our milestone celebrations with our new clients, who we will owe our next ten years of success and ongoing growth to. These 10 gifts to celebrate our ten years are really icing on the cake for those planning to call AURA home. :

AURA’s sales have continued to break records with $70 million in sales secured during August alone, which was on top of $100 million in sales achieved in February. More recently, over $100 million has been transacted over the last few months. The highest price paid at AURA to date was $8 million for a four-bedroom residence, which is due to exchange soon. &nbsp;

“With AURA’s sales performance continuing to gain momentum, this birthday celebration is further testament to our ongoing commitment to creating dynamic communities that allow our clients to live better," Adams added.

"We’re making AURA more accessible, despite it already proving extremely successful already. It’s another opportunity for us to thank Sydneysiders for supporting us for the last decade, not just with AURA, but also the support we saw at our recently sold-out BLUE at Lavender Bay and The REVY projects, which also experienced record sales."

Aqualand <a href="https://www.urban.com.au/news/nsw/aqualand-officially-opens-landmark-north-sydney-apartment-development-aura-by-aqualand">officially opened AURA by Aqualand in June</a>, and residents have started to settle and move in.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/aura-by-aqualand-has-exceeded-our-expectations-urban-buyer-q-a-with-downsizers-tony-and-sineeart">"Aura by Aqualand has exceeded our expectations": Urban Buyer Q&amp;A with downsizers Tony and Sineeart</a>

[smartcode_project_cta:default project_id=30959]

Aqualand’s Head of Sales & Marketing, Alex Adams, said the never-before-seen opportunity is designed to remove common purchasing barriers, or to make securing their new home in AURA easier.



Aqualand offer up $10 million of offers for apartment buyers at AURA by Aqualand in North Sydney

The <a href="https://www.urban.com.au/developments/sydney-nsw-2000">Sydney CBD</a> skyline is to continue its transformation from old to new.

Property development and funds management giant, <a href="https://www.urban.com.au/developers/charter-hall">Charter Hall</a> has filed plans with the City of Sydney Council for several new buildings, one a 55-level mixed-use tower at 201-217 Elizabeth Street, on the corner of Park Street and opposite Hyde Park.

The 3,900 sqm corner site is currently home to a 38-level commercial office tower with a retail plaza at the lower ground level that has&nbsp;underground pedestrian connections to Museum Station.

The new $924 million tower will incorporate both hotel rooms and apartments, as well as ground and podium-level retail and hospitality spaces.

Proposed is a genuine mix of one, two, three and four-bedroom apartments. On offer will be 67 one-bedroom apartments, a rarity in the new apartment market, as well as 123 two-beds, 58 three-beds, and 16 four-bedroom apartments.

The apartments will start from level 12. Levels one to 11, the podium will home 441 hotel rooms.

The design, spearheaded by design competition winner <a href="https://www.urban.com.au/architects/fjc-studio">fjc studio</a>, introduces significant urban enhancements, from minimising overshadowing on Hyde Park to creating accessible pedestrian spaces, making the site a distinctive entry point into the city.

fjc studio designed a tri-partite tower with three sections in various heights and orientations, aiming to create an “urban repair” along the Elizabeth Street streetscape, reconnecting the area visually and physically with neighbouring sites.&nbsp;

<img alt="201 - 217 Elizabeth Street, Sydney podium" data-entity-type="file" data-entity-uuid="973bc4fe-7781-4eb0-8fa3-f3277341d05e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/201%20-%20217%20Elizabeth%20Street%2C%20Sydney%20podium.png?VersionId=lUg5UW5EJFhvvc7kGotbds2rJZPmUQeW" />

&nbsp;

fjc studio said the proposed development at 201 Elizabeth Street will be targeting an exemplary level of sustainability performance, benchmarked against the most progressive definitions of sustainable development in the Australian marketplace.

"With a targeted 5 Star Green Star Buildings v1 rating, a 4 Star NABERS Hotel Energy rating, a 3 Star NABERS Hotel Water rating and BASIX targets that exceed the minimum compliance level, the building will meet a holistic definition of sustainability through design, construction and in to operation," fjc studio noted in its submission to the Sydney of City Council.

fjc won the design competition for the development in late 2018.

The Jury reached a unanimous decision in recommending fjc’s scheme as the preferred winner of the competitive design process fjc studio proposed a tri-partite ‘cluster’ of finely proportioned elements for the tower, each at a different height and orientated towards the north east in a varying fan alignment.

The alignment of each element maximises views from apartments to Hyde Park and Sydney Harbour.

<img alt="Elizabeth Street" data-entity-type="file" data-entity-uuid="ca5c0194-100f-4497-a920-3d5b9db7bbc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-04%20at%2010.15.05%E2%80%AFAM.png?VersionId=ADJyPnxYIZJ_vmEkQAw.zX3AS1jyaFAu" />

Elizabeth Street is set to look completely different in the next decade.

Other developments down the prime street that is just one of three developable roads on Hyde Park include <a href="https://www.urban.com.au/developers/central-element" target="">Central Element</a>'s 271 Elizabeth Street. The <a href="https://www.urban.com.au/news/nsw/central-element-get-sign-off-for-mixed-use-hyde-park-tower-in-sydney-cbd">$100 million development</a>, with 53 apartments, will replace the 16-level&nbsp;Hyde Park Inn hotel. The apartments will sit above&nbsp;several retail tenancies on the upper and lower ground floors.

Alternative asset manager,&nbsp;<a href="https://www.urban.com.au/developers/fife-capital" target="">Fife Capital</a>, also has plans for a <a href="https://www.urban.com.au/news/nsw/exclusive-fife-capital-lodge-castlereagh-street-sydney-cbd-mixed-use-apartment-and-office-development">17-level tower at 139 Elizabeth Street</a>. The plans are for just 26 apartments in a building that will be predominantly made up of office space. The tower will&nbsp;sit alongside a heritage-conscious redevelopment of the George Bosch Chambers and St James Hotel&nbsp;building that has stood since the 1920s.

&nbsp;

&nbsp;

&nbsp;

Elizabeth Street is set to look completely different in the next decade

Sydney skyline transformation to continue as Charter Hall pitch near-$1 billion skyscraper

Sydney's Olympic Park precinct is set to get ist biggest transformation since its establishment ffr the Sydney Olympics back in 2000.

The NSW Government has released the Sydney Olympic Park Masterplan 2050 which "envisions a transformation beyond sports and entertainment, crafting a thriving urban community that will integrate homes, jobs, and cultural spaces alongside green corridors and environmental initiatives."

Projected to introduce up to 13,000 new homes and create 32,000 jobs, the plan seeks to establish a balanced ecosystem where housing options, including five to ten per cent affordable units, meet diverse needs, while commercial and recreational facilities support a vibrant community life.

<a href="https://www.urban.com.au/developments/sydney-olympic-park-nsw-2127">Sydney Olympic Park</a>, currently home to around 5,250 residents, could see an influx of 25,000 new residents over the next 25 years, according to NSW Minister for Planning and Public Spaces, Paul Scully.

<img alt="Sydney Olympic Park Master Plan 2050" data-entity-type="file" data-entity-uuid="fadf8e6e-1ae9-4251-b9be-7b84da45c066" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1730068338668.jpg?VersionId=SCLgACMrIouNlQKUFfVSJkx8iCPQsNPe" />

Proposed elements include new hotel accommodations, health and educational spaces, and the construction of a cultural centre alongside two new schools, seven public spaces, four sports fields, and ten playgrounds.

Central to the master plan’s design are key precincts, each fulfilling distinct roles within the park. The Urban Centre will be the park's primary hub, blending residential, commercial, and cultural spaces.

Adjacent residential neighbourhoods—Eastern, Southern, Haslams, and Edwin Flack—will provide a range of housing choices with dedicated zones for affordable housing.&nbsp;

Additionally, the Sports and Civic Precinct and Stadia Precinct will continue to host major sporting events and community gatherings, supporting a range of activities beyond the stadiums that define the area’s heritage.

<img alt="Sydney Olympic Park Master Plan 2050" data-entity-type="file" data-entity-uuid="5174943d-bef1-4dc9-962a-99fc5c01e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1730068338838.jpg?VersionId=Dnc5bWaq_NUzZAbIPTpCGcPmdfc3BT9y" />

Environmental conservation and sustainability play a significant role in the Master Plan 2050, with provisions to conserve key ecological areas and introduce precinct-scale water systems for efficient usage and treatment.&nbsp;

Urban canopy expansion and the creation of green corridors aim to support biodiversity and urban greening, while new buildings are required to meet high standards of environmental performance.&nbsp;

The plan also addresses legacy contamination within the park, setting guidelines for land rehabilitation.

The Master Plan also prioritises connectivity, with a focus on promoting active transport. A network of pathways will support walking and cycling, integrated seamlessly with public transport options.

<img alt="SoP masterplan" data-entity-type="file" data-entity-uuid="d81951e7-82aa-4e3b-80b0-93d5f6418a40" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-04%20at%209.58.43%E2%80%AFAM.png?VersionId=EjWWjRsKpc8UmwSLY4Nqdisa5jZeV0fk" />

SJB Urban Founder, Jonathan Knapp, said, the&nbsp;Sydney Olympic Park Master Plan 2050 reflects the commitment by the State Government to approach precinct planning from a refreshing and innovative perspective, starting with country and early engagement with the community to establish a clear vision and strategic Framework.

“With these in place, the team was able to progress the Master Plan with a clear appreciation of the priorities for the community today and into the future”.

Central to the master plan’s design are key precincts, each fulfilling distinct roles within the park. The Urban Centre will be the park's primary hub, blending residential, commercial, and cultural spaces.

Inside the Sydney Olympic Park Master Plan 2050

The Brisbane City Council has granted approval for Meriton's two-tower development in the heart of the city.

The $1.3 billion development at <a href="https://www.urban.com.au/new-apartments/204-alice-street-brisbane">204 Alice Street</a>,&nbsp;across from the City Botanic Gardens, marks Harry Triguboff's first major project in <a href="https://www.urban.com.au/developments/brisbane-qld">Brisbane</a>.

The two towers, one of which will reach 79 levels, will home 753 apartments, predominantly two-bedders (438).

There will be 168 one-bedroom units, each with a study, 119 three-beds, and 28 four-bedroom apartments. Just under 900 parking spaces will occupy five basement levels and four of the podium levels.

<img alt="First look: Meriton's full plans for first Brisbane apartment development revealed" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-01-10%20at%208.44.57%20am.png?VersionId=7Vg2Y5kpSLuqC9s7YnnHzJ5lciB87Bzn" />

DBI, the preferred architecture firm for Meriton on the Gold Coast where they have several skyscrapers, said in the submission that&nbsp;the design approach "minimises overshadowing of the Botanic Gardens, aiming to preserve the experience for both residents and the wider public."

"The two-tower development takes cues from the surrounding context including the city’s urban fabric as well as the Botanic Gardens and seeks to complement the adjacent heritage and place character, DBI noted.

"The development is set to become a landmark Brisbane destination and provides a visable presence on the skyline of the city. The tower plates have been carefully shaped to maximise the amenity of future residents and visitors and provide generous balconies offering access to Brisbane’s outdoor lifestyle."

The podium level will be lined with retail, food and beverage spaces, and public amenities such as swimming pools, an outdoor gym, and play areas. An upcoming Public Art Strategy will also introduce integrated artworks.

<img alt="Meriton" data-entity-type="file" data-entity-uuid="9451c1c4-eb06-4e56-a641-6f256f38044d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-04%20at%209.50.37%E2%80%AFAM.png?VersionId=EM.B0pMbvmE0CjFtCOMCC.uNUbchAHyc" />

As part of a broader urban rejuvenation effort in Brisbane, 204 Alice Street is situated near other transformative projects including the Eagle Street Pier Precinct and Queen’s Wharf.

Urban Planning Services noted in a Town Planning Report that the development addresses the increasing demand for housing in South East Queensland by offering high-quality apartments in a prime location.&nbsp;

By introducing both residential and commercial spaces, the project aims to bolster the economic vitality of the City Centre, establishing a renewed pedestrian-friendly precinct with active street frontages and enhanced housing options in Brisbane’s core.

Urban Planning Services noted in a Town Planning Report that the development addresses the increasing demand for housing in South East Queensland by offering high-quality apartments in a prime location. 

ASIC's interest-only guide for property investors

Michael Crawford

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