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33 Clarke Street 409 SF Retail Condo Unit Offered at $304,384 in Southbank, VIC 3006
Investment Highlights
- Securely leased retail investment with stable annual income and fixed growth.
- Surrounded by high-rise apartments, offices, and major entertainment venues.
- Situated within the Capital City Zone (CCZ), offering future redevelopment potential.
- Located within Banque 88, a 22-level residential tower in the heart of Southbank.
- Excellent public transport connectivity, including trams, buses, and Southern Cross Station.
- Only 1 km from Melbourne CBD, benefiting from strong pedestrian and vehicular traffic.
Executive Summary
Banque 88 is a completed high-rise residential development located in Melbourne’s Southbank precinct, a dense urban area known for its proximity to the CBD, Crown Entertainment Complex, Melbourne Convention and Exhibition Centre, and Southbank Promenade. The building is positioned within walking distance of major retail, dining, and entertainment destinations, as well as free tram routes and Southern Cross Station. The surrounding area features a mix of residential towers, commercial offices, and cultural attractions, making it a highly connected and vibrant location.
Property Facts
| Total Building Size | 60,730 SF | Floors | 22 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 2,760 SF |
| Property Subtype | Lot Size | 0.06 AC | |
| Building Class | B |
| Total Building Size | 60,730 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | |
| Building Class | B |
| Floors | 22 |
| Typical Floor Size | 2,760 SF |
| Lot Size | 0.06 AC |
1 Unit Available
Unit 1
| Unit Size | 409 SF | Sale Type | Investment |
| Price | $304,384 | Cap Rate | 6.51% |
| Price Per SF | $744.22 | NOI | $19,820.36 |
| Condo Use | Retail |
| Unit Size | 409 SF |
| Price | $304,384 |
| Price Per SF | $744.22 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 6.51% |
| NOI | $19,820.36 |
Description
Shop 1/33 Clarke Street is a ground-floor retail property located in Southbank, Victoria. The property occupies 38 square meters within a mixed-use residential tower and is positioned near the Crown Entertainment Complex. It is approximately 1 km from Melbourne’s central business district and is accessible via tram, bus, and rail services, with Southern Cross Station located less than 1 km away. The property is within the Capital City Zone and is surrounded by high-density residential and commercial developments.
Sale Notes
This property represents an outstanding entry-level investment opportunity in Melbourne’s dynamic Southbank precinct. Situated on the ground floor of the renowned Banque 88 residential tower, the asset benefits from a high-exposure position just steps from the Crown Entertainment Complex and within 1 km of Melbourne’s CBD. The property is securely leased to a strong tenant, generating a stable annual income with fixed 4% increases, making it an attractive option for SMSFs and first-time investors seeking predictable returns.
The surrounding area is one of Melbourne’s fastest-growing urban hubs, characterized by a dense residential population, premium apartment towers, and a thriving commercial environment. Excellent connectivity is provided via multiple tram routes, nearby bus stops, and Southern Cross Station less than 1 km away. Positioned within the Capital City Zone (CCZ), the property offers long-term upside potential as Southbank continues to evolve as a premier mixed-use destination.
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33 Clarke Street
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