South Melbourne is a secret jewel of Melbourne. Centred around Clarendon Street, an extension of Spencer Street, the whole district has been settled by Greeks and Italians, quite close to where they first landed at the Port of Melbourne .Home to magnificent examples of the late Victorian era of architecture and one of the cities wealthiest suburbs, Albert Park is known internationally as the location for the Australian Formula One Grand Prix, a road circuit which circumnavigates Albert Park Lake.Albert Park is bordered by the suburbs of Port Melbourne to the west, South Melbourne to the north, Middle Park to the east and Port Phillip Bay to the south. St Vincent's Gardens and the surrounding Victorian architecture is a sight to behold.