Hiker
I think the Elizabeth Towers is on the corner of Flemington Rd and Elizabeth Steets. About 1/2 mile from the centre of Melbourne.
When I left it was a sunny and mild 18c (66f).
Look without being critical of the Phillip Island penguin parade, I feel that you get a better look at the penguins close up at the Melbourne Zoological gardens just nearby.
The zoo is within walking distance of the Flemington Rd. The zoo is about a 1 and 1/2 mile walk across the park behind the Childrens Hospital.
Phillip Island is a $50+ bus trip and then admission to the Penguin Parade. You sit on a concrete step under flood lights and watch the penguins leave the ocean and walk up to their holes. From a distance of about 30 - 40 yards.
Just my $0.02 worth. Perhaps some other Aussies my chime in here.
Bernie on btsnakes site.