Australasia Investment and Trade Association Inc Australasia Investment and Trade Association Inc

Southbank New Apartment Development


This Southbank property represents an opportunity to acquire a high density development site in one of Melbourne’s most sought after and rapidly growing precincts. This site is situated within the Capital City Zone with significant hire-rise development potential.

The key points of the property are:

  1. Capital City Zone permitting high rise development.
  2. Local council promoting high density housing in this area.
  3. Prominent corner location with street frontage to main city street.
  4. Located within Melbourne’s most successful high-rise residential precincts of Southbank, in close proximity to Crown Casino precinct, close to Melbourne’s CBD and shopping precincts.

Land area – 632sqm. The site has no planning approval in place, it’s zoning under the Melbourne Planning Scheme is Capital City Zone, this zoning allows for high-rise high density residential, retail, commercial, entertainment, hospitality and other uses, similar to the surrounding district. It is on a corner site, with one frontage to a main city street.

Proposed Development

Fitting within the current Capital City Zoning and in accordance with the Design and Development Overlay Schedule 60, a conceptual residential and small commercial development plan has been drawn up.

  • 134 x 2 bedroom apartments
  • 19 x 3 bedroom apartments
  • 4 x 4 bedroom
  • 32 car parks
  • 417 sqm of commercial/retail space

Proposing a Gross Floor Area (GFA) of 24,143sqm and a Net Saleable Area (NSA) of 13,350sqm

Development Costs and Return on Investment

The costs associated with this development and its projected investment returns are tabled below. Detailed calculations can be found in the appendices


This Development represents an opportunity to acquire a high profile development site within Melbourne’s highly sought after Southbank Precinct.

The costs of this development versus its potential sales show an investment opportunity of 32% return on the total development costs.

Research on current sales suggest that the location of this development is within a highly sought after precinct and demand is strong.

Given the strong demand for apartments and the projected high returns, this development opportunity shows a good and secure investment.