St Kilda Road by Steve Collis @ https://www.flickr.com/photos/swampa/7683094708/

St kilda Road is a street in Melbourne, Victoria, Australia. It is part of the locality of Melbourne which has the postcode 3004 and along with Swanston Street forms a major spine of the city.

Many offices has been situated along St kilda road for many years. However, as the rental rates of the offices declined and the high land tax bills, pressure will be on them to remain along St kilda road.

Coming along with low interest rates and the high demand of residential along the St Kilda Road, a substantial percentage of these offices will be giving way to residential development.

According to “The Australian business review” , developer Golden Age has brought over a five-storey at 450 St Kilda Road for $20 million to bring down the offices and give way for residential. The residential development which overlook the Royal Botanic Garden has recently been announced by the developer to be known as  Opera Melbourne.

Together with developer Golden Age, others renowned developer has also went in to purchase offices to make way for residential. With this trends, it is believed that Melbournians will be seeing more housing spaces along St Kilda Road.

Read more on Opera Melbourne Here – https://www.propertyfactsheet.com/properties/opera-melbourne/