Former South Melbourne 3AW studio site set for $120 million redevelopment

The former site of Melbourne’s 3AW studios, which operated for nearly 20 years in Bank Street, South Melbourne is set to undergo a major overhaul, after developers launched a new $120 million project for the space.

The 1,440 square metre site, acquired by Virgate Property Group in 2016 for $15 million, will be known as Domain House.

"The Domain Precinct is a tightly held and sought-after area, we are seeing a huge uplift in demand for high-end apartments in South Melbourne with official forecasts predicting a population of 22,000 residents by 2031, growing at a rate of 4.0% per annum,” said CBRE’s Managing Director of Residential Projects, Andrew Leoncelli.

Domain House apartments are expected to be priced between $460,000 to $1.7 million.

The project is targeted to commence construction by October 2020, with an estimated completion date in mid-2022.