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.
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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