Next Neighbourhoods: The Domain Precinct, Melbourne, Australia
Michelle Ciesielski, Partner at Knight Frank Australia, discusses why the Domain Precinct in South Yarra is the place to be in Melbourne
Why is the area up and coming?
The Domain Precinct wraps around the southern and eastern boundaries of the Royal Botanic Gardens. Boasting large prestige homes and private schools, it is close to the upmarket boutiques on Chapel Street plus arts, sport and entertainment amenities. Already well connected, the area will be further enhanced by the new Anzac station, part of the Metro Tunnel project, which will put the area just one stop away from Melbourne’s CBD.
My favourite bits
A morning jog around the Royal Botanic Garden’s iconic track, “The Tan”, is highly recommended, followed by a delicious breakfast at the Botanical Hotel, with a bowl of Benner-Bircher muesli made to an original 1900 recipe.
Who’s buying?
Traditionally, wealthy families have kept a tight grip on property in the Precinct. Now, new luxury apartments are attracting those looking to downsize but stay in the area.
What will my money buy me?
A new two-bedroom luxury apartment starts from A$1.2 million. An established four-bedroom house with a garden starts from A$3 million.
