Receivers Sale | Landmark 7,706 sqm* Island Development Site Opportunity
Acting under instructions from the Receivers and Managers Alvarez & Marsal in respect of 118 City Road, Southbank, and KordaMentha in respect of 158 City Road, Southbank, Stonebridge Property Group, in conjunction with Cushman & Wakefield are pleased to present the properties for sale either separately or in one line.
Key highlights of the opportunity include:
- 7,706sqm* island development site across two contiguous parcels.
- 118 City Road comprises a 6,191sqm* landholding with a combined 291m* frontage to City Road (121m*), Southbank Boulevard (37m*) and Waterfall Lane (133m*).
- 158 City Road comprises a 1,515sqm* landholding with a combined 99m* frontage to Power Street (51m*), City Road (25m*) and Waterfall Lane (33m*).
- Globally iconic development opportunity, with approval for Australia’s tallest tower.
- Permit approval across both parcels for a mixed-use outcome comprising two towers of 102 and 63-levels with 291,962sqm* GFA and 789 apartments of which $609m is presold.
- 158 City Road has permit approval for a 46-level development comprising 27,302 sqm* NSA/NLA.
- Alternate concept plans have been prepared by Cox for each individual parcel and across the entire site.
- Positioned at the epicentre of Southbank’s established mixed-use riverside precinct with an exceptional concentration of amenity in immediate proximity.
- Located a short walk from a range of lifestyle amenities including Crown Entertainment Complex (250m*), Southbank Promenade (400m*), the Royal Botanic Gardens (750m*) and South Melbourne Market (1.3km*).
- Walking distance to a range of retail amenities including luxury retail at Crown Entertainment Complex (250m*) and DFO South Wharf (1.5km*).
- Highly accessible location being a short walk from Flinders Street Station (650m*) with trams located on Queens Bridge Street (500m*) and Sturt Street (400m*).
- Strong population growth outlook, with Southbank forecast to accommodate an additional 18,000 residents between 2023 and 2043 (City of Melbourne, 2023), reinforcing sustained demand for high-density residential development.
- Located in high-demand Southbank with a median unit price of $540,500^, and a median rent price of $700^ per week.
118 & 158 City Road, Southbank is for sale via International Expressions of Interest closing Thursday 18th June 2026 at 2PM (AEST). To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group and Cushman & Wakefield.
Stonebridge Property Group
Julian White | +61 422 764 137
Chao Zhang |+61 0411 625 068
Cushman & Wakefield
Daniel Wolmam | +61 412 957 839
Oliver Hay | +61 419 528 540
Leon Ma 马海翔 | + 61 417 070 725
*Approximately
^ Realestate.com.au
^^158 City Road is NABERS exempt
Property Code: 1717
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