How Docklands has evolved into an enticing inner-city neighbourhood

Australians have long been a nation of aspirational home owners, but a shift in the psyche is sending fresh eyes in the direction of rapidly evolving inner-city areas such as Melbourne’s Docklands. 

Since its creation from a brownfield site in a major urban renewal project led by the Kennett government in the 1990s, this wedge of waterfront land hugging the south-western edge of the CBD has become many things. 

It’s now the preferred real estate choice of big business, home to the headquarters of ANZ, NAB, and Nine Entertainment Co among them. It’s a sports and entertainment precinct, as evidenced by Marvel Stadium and the O’Brien Icehouse ice skating arena.

The Melbourne Star Observation Wheel is no more, but efforts to give Docklands a sense of place include a public art collection as whimsical as it is extensive (look no further than the much-photographed “Cow up a Tree” by sculptor John Kelly on Harbour Esplanade). There’s also a state-of-the-art library.

No ordinary “bibliotech”, Library at The Dock is Australia’s first six-star Green Star rated public building – staking its claim as the civic heart of Docklands alongside the community gardens. 

And with Port Phillip Ferries’ construction of the new Melbourne Ferry Terminal at Victoria Harbour, the on-water public transport activation seen in recent years is expected to continue apace. 

Glenn Donnelly, an agent with City Residential Bourke Street, is an expert on Docklands, having lived in postcode 3008 for 17 years and raising his children there. He says the proportion of owner-occupiers continues to grow, and with it a sense of community.  

“I love the place. It’s a lifestyle; everything is so convenient and handy,” he says. “I walk everywhere – I really don’t have to use my car much at all.”

The Docklands Primary School opened at the start of 2021 in response to the growing number of families in the suburb, welcoming more than 500 students in its first intake.

Depending on which part of Docklands they reside, high school students can be zoned for the sought-after Albert Park College or the new Fishermans Bend Secondary School that opened in Port Melbourne recently. 

“We’re finding that three-bedroom apartments are highly sought after by the high number of families interested in Docklands but they’re hard to find,” says Donnelly. “Places are leasing quickly. We had one for $2000 a week that went within three days.”

When it comes to buying property, stamp duty concessions currently available on new properties within City of Melbourne postcodes, which can be used in conjunction with first-home buyer grants and other offers, are further enhancing the appeal for buyers.

A 50 per cent concession on stamp duty is available on new homes worth under $1 million, or if the home has remained unsold for 12 months or more since completion, the stamp duty is waived entirely. 

Koos de Keijzer, founding principal of DKO Architecture, the architects and designers behind the waterfront precinct’s first five-star hotel, Marriott Docklands, says it offered an “amazing opportunity” for residents. 

“Good urban design is about the arrangement of public spaces and buildings to create useful, attractive, safe, sustainable and successful places, and at Docklands the master plan allows for this. As a CBD suburb, there are excellent opportunities for residents to walk to work, seeing a reduction in car ownership and allowing residents to have a more balanced lifestyle as there’s more time to play rather than commuting.”

Having completed multiple other residential and commercial projects in the area, de Keijzer has seen it change drastically over the past five years. 

“Sure, it’s had its difficulties and stigmas but with change comes regeneration and what was once a sparsely populated industrial zone is turning into one of Melbourne’s most enticing and interesting suburbs. There’s so much on offer at Docklands and apartment living is certainly becoming more normalised in the area.”

 This article is brought to you by the City of Melbourne with support from the Victorian Government. Find out how you could pay $0 stamp duty on your next home purchase at housesmelbourne.com.au