The City of Melbourne, the Australian Grand Prix Corporation and Cadbury Schweppes are to present a parade of Formula One cars through the city to mark Melbourne's 10th world championship grand prix.

The Melbourne F1 Street Parade will hit the streets from 12.30pm to 1.30pm on Wednesday, 2 March – the eve of the FORMULA 1 Foster's Australian Grand Prix at Albert Park over the following four days.

The parade is expected to include several Formula One cars as well as V8 Supercars travelling along a city route.

The 'circuit' has been plotted to highlight many of Melbourne's famous landmarks, including Federation Square, Flinders Street Station, the Arts Centre, St Paul's Cathedral and the Melbourne Town Hall. The course will take in the block of Swanston, Flinders, Russell and Collins Streets and travel up St Kilda Road to the Arts Centre.

Lord Mayor John So said the Melbourne F1 Street Parade will showcase Melbourne to an extremely large audience and increase Melbourne's national and international profile.

"A street parade like this provides a unique opportunity to showcase our great city to a massive global audience like never before,” Lord Mayor So said. "It will also attract thousands of people to the city. Over half a million people flocked to the centre of London last year to witness a similar display of F1 action. Melbourne's street parade is expected to attract 200,000 people."

The Lord Mayor said the parade would ensure that everyone can enjoy the thrill of the Grand Prix in Melbourne.

"An exciting, free public event like this gives everyone in Melbourne the opportunity to enjoy the excitement of one of this city's premier sporting events, even without a ticket to the Grand Prix," he said.

Australian Grand Prix Corporation Chairman Ron Walker said the street parade was a creative and exciting way to celebrate the 10th anniversary of the Australian Grand Prix in Melbourne.

"We have a Formula One Grand Prix that is acknowledged as the world benchmark in presenting a major event," Mr Walker said.

"It's going to be a very special celebration next month when we hold our 10th Formula One Grand Prix at Albert Park. We will have the People's Day, with free general admission to the track on the Thursday (3 March), but this street parade is about bringing the Grand Prix to the very heart of this great city, to celebrate our 10 years."

Cadbury Schweppes Managing Director Mark Smith said his company was delighted to be involved in what promises to be a most exciting activity.

"Through our confectionery, soft drink and foods brands we aim to bring delight to the lives of many people. And, without a doubt, next month's Melbourne Formula 1 Street Parade will also bring a lot of pleasure to many people," Mr Smith said.

"We are also sure it will bring a lot of attention to our great city of Melbourne. We are really pleased to be associated with what we trust will be an exciting and truly fun event."

Presented by the City of Melbourne, the Australian Grand Prix Corporation and Cadbury Schweppes, the Melbourne F1 Street Parade has strong support of the Victorian Government