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1001/9 Power Street, Southbank$500,000

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1001/9 Power Street

Southbank, VIC 3006, Australia

$495,000 – $505,000

2 bed 1 bath68 m²

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Listing description

About this property

Experience the best of Southbank's lavish lifestyle with this spacious north-facing two-bedroom home, which is destined to capture the hearts of first home buyers and city professionals. Located in one of the area's premier residential complexes, Prima Tower, it combines modern and vibrant living just moments from the Crown Entertainment Complex, Southgate precinct, and the CBD. Abundant northern sunshine streams onto the private terrace, from where you can also enjoy the gorgeous city skyline and Yarra River vistas. The soaring floor-to-ceiling high-performance double-glazed windows allow light to flood into the generous living and dining areas. This captivating abode features an impressive main bedroom with mirrored built-in robes and a sizeable, private second double bedroom. A sleek stone kitchen featuring premium Miele appliances, 2-Pack white and timber veneer joinery, an elegant bathroom with classy tapware, a laundry zone, and a concealed reverse cycle heating and cooling system all raises the bar for ultimate comfort and enjoyment in this urban oasis. Enjoy Prima Tower's amazing world-class facilities, which include an architect-designed lobby with 24-hour concierge service, a building manager, an outdoor BBQ terrace, an indoor heated 25-meter lap pool, a fully equipped gymnasium, a spa, a steam room, a sauna, a virtual golf range, a massage room, meeting rooms, a communal lounge, a games room, a 17-seat cinema/theatre with Foxtel service, and a full kitchen with private dining facilities. The iconic Crown Entertainment Complex is located across the road. Delight in the nearby Southgate precinct with its exciting restaurants and bars, explore South Melbourne Market for fresh produce, absorb the beauty of the Royal Botanic Gardens, enjoy a show at the Arts Centre, or be thrilled by a game at one of Melbourne's world-class sporting venues (MCG, AAMI Park, Tennis Centre). All of the CBD's attractions are just a short stroll away.

Property Details

Property Type: apartment
Listing Type: For Sale
Bedrooms: 2
Bathrooms: 1
Land Area: 68 m²
Listed: 3 months ago

Repayment calculator

$2,424/month

$1,212 /fortnight

Loan $400,000 at 6.10% over 30 years

Upfront costs

Deposit$100,000

Stamp duty$25,070

Conveyancing (est.)$2,000

Total upfront$127,070

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Indicative figures only — not a quote. Real loan offers depend on the lender; duty depends on contract terms and applicable concessions.

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Neighbourhood

Living in Southbank

This 2-bedroom apartment in Southbank, VIC 3006 sits within reach of public transport, local shops and nearby schools. It is listed 35% below the $765,000 median of 74 comparable apartmentswithin 5 km.

Schools near Southbank

South Melbourne Primary Schoolprimary · Prep-6 · CoEd
Victorian College Of The Arts Secondary Schoolsecondary · 7-12 · CoEd

What's nearby

Stop 116: City Road (tram) — 343 m away
Unnamed — 172 m away
Unnamed — 263 m away
Unnamed — 288 m away
Boyd Community Park — 294 m away

Southbank at a glance

Full suburb profile

Population: 22,631
Median age: 31
Household income: $1,926/wk
Median rent: $411/wk
Median mortgage: $1,900/mo

Source: ABS Census.

Due diligence

Property Report

Lifestyle & access

Schools

7 nearby schools

Catchment: Southbank Primary School

Public transport

10 stops within 1.5km

Nearest: Crown Landing (0.4km)

Traffic

Moderate congestion

Morning (7-9am) and evening (4-6pm) peak hours see increased congestion on St Kilda Road and Batman Avenue. St Kilda Road experiences directional flow impacts with southbound congestion in mornings and northbound in evenings. Local streets experience moderate delays during these periods.

Noise

Moderate noise

Nearest: road (0.1km)

Risk & safety

Flood risk

Medium

Southbank is located within the Yarra River floodplain and is subject to Melbourne's Land Subject to Inundation Overlay (LSIO). The suburb has medium flood risk due to its proximity to the Yarra River and historical inundation events. Planning controls mandate flood-compatible development and appropriate floor levels for all new construction in affected areas.

Bushfire risk

None

Southbank is a dense, inner-city urban precinct in Melbourne with no significant bushfire risk. The suburb is heavily developed with high-rise buildings, paved surfaces, and minimal vegetation, placing it well outside any Bushfire Prone Area (BPA) or Bushfire Management Overlay (BMO) zones. No BAL rating applies to properties in this location.

Crime profile

above average

Trend: stable

Planning & context

Zoning

GRZ1 — General Residential Zone

Melbourne Planning Scheme

Nearby development

6 projects nearby

Southbank remains one of Melbourne's most active development precincts with sustained high-density residential, mixed-use and cultural facility projects. Ongoing infrastructure and public realm works support continued densification within this established inner-city location. Development activity is driven by strong demand for inner-city living, proximity to employment hubs, and ongoing investment in arts and cultural institutions.

Heritage

Heritage listed

Southbank is a significant cultural and heritage precinct in central Melbourne, home to major institutions including the Arts Centre and NGV. The area features Victorian and contemporary architecture within heritage overlays that protect its character and iconic sightlines. Properties are subject to strict development controls reflecting its status as a key cultural and civic destination.

Sources: Australian Gov open data, OpenStreetMap + StMate AI

Disclaimer: This report combines data from Australian Government open data portals (CC-BY 4.0) and StMate AI. For non-NSW properties some sections (zoning, flood, bushfire, development, heritage) are AI-generated based on publicly known suburb characteristics — always verify with the relevant council or authority before making decisions. This report does not constitute legal, financial, or planning advice.

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