Flagship BMW dealership to make way for Southbank twin towers

Melbourne’s flagship BMW dealership at Southbank will be sold to developers, paving the way for a colossal development that includes 800 apartments and 600 hotel rooms.

BMW has offered the coveted corner site at 58 Southbank Boulevard for sale, unlocking one of Melbourne’s largest inner-city land parcels.

The 6191sqm site already has a development scheme being designed by architects Fender Katsilidis, which would comprise two towers that would house a hotel, a residential component and 10,000sqm of retail space.

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CBRE’s Mark Wizel, Josh Rutman, Julian White and Lewis Tong are marketing the property both locally and internationally, with Rutman saying the development will also include significant upgrades to the surrounding area.

“Key aspects of the substantial investment into Southbank include more than one kilometre of dedicated, separated bicycle lanes, upgraded tram and bus stops, the extensive planting of new trees and a new neighborhood space,” he says.

An artist’s impression of the potential development at the BMW dealership site in Southbank.

“Investments like this send a clear message to both interstate and overseas observers that Melbourne is by no means a city sitting on its hands and reveling in its most liveable city rating.”

Wizel says despite ongoing reports of an apartment glut, investors continue to see strength in Southbank.

“Ultimately what investors are looking for is confidence, and you couldn’t be more confident investing in the Southbank precinct off the back of Crown’s $1.75 billion investment into the One Queensbridge mixed-use development,” Wizel says.

“There is over $7 billion worth of public and private infrastructure investment within the future supply pipeline in Southbank through to 2021. This includes many commercial and mixed-use projects, which will add to the existing amenity in the area, and will allow for more local jobs.”

The expressions of interest campaign for the BMW dealership closes on September 15.