Eureka Tower - Further development of Southbank Boulevard

[narcissusford]

Hi all

I am contemplating the purchase of an apartment in Eureka Tower, Southbank, as my PPOR (which is currently in the CBD). The apartment I am looking at is on a lower level of the building, and currently enjoys views across the boulevard and into the city. Some of these views are interrupted by the existing buildings that are in front of Eureka (i.e. the Exxon Mobile building at 12 Riverside Quay). One of the concerns I have is if these existing buildings – which are relatively new – are redeveloped and their height expanded.

I appreciate that I can not stop progress, and that a right to a view is not recognised in law, and so what I would like to know is whether there is any information available that would be relevant to my decision – i.e. are there any planning rules that would prohibit further expansion to these buildings on the boulevard, has any applications for redevelopment been lodged, etc? Has anyone been through something similar and what steps did you take to satisfy yourself of the likelihood of your view remaining uninterrupted?

Many thanks.

 

[Melbournian]

not really - as you see in southbank they're basically developed everything on every single block and you would be one of many putting your hand up to stop more development in which they go ahead and do it anyway.

i would be more concerned for eureka and freshwater eventhough they're top end buildings is the traffic congestion on city rd to get to the buildingds.

 

[narcissusford]

Thanks Melbournian for your comments. I'm very much a city dweller, I do not own a car, and have not considered congestion issues. You are right for pointing this out as a potential issue as it would of course be relevant to other buyers should I wish to sell down the track.

I read the Southbank 2010 report and it indicates that the existing buildings along the promenade / boulevard have reached their height limit, and that any further development to accommodate the 70k+ residential population predicted by the year 2040 would need to occur towards the back of the boulevard. Nonetheless, I appreciate that plans change and anything could happen over such a long time period.

I will think about it some more before making a decision…

 

[Aaron_C]

You can check the City of Melbourne website to see what planning applications have been lodged.

 

[narcissusford]

Thanks Aaron I will check the City of Melbourne website as recommended.