Elegant black swans give their inimitable bottoms-up salute as you jog, cycle or walk the 5km perimeter of this constructed lake. Lakeside Dr was used as an international motor-racing circuit in the 1950s, and since 1996 the revamped track has been the venue for the Australian Formula One Grand Prix each March. Also on the periphery is the Melbourne Sports & Aquatic Centre , with an Olympic-size pool and child-delighting wave machine.