# Melbourne Class A Office Market

> Melbourne Class A office rents around A$720/sqm/yr · ≈ $43.5 PSF/yr USD, with 18.4% vacancy and 14 months of typical rent-free on a 7-year term.

**Canonical URL:** https://classa.info/cities/melbourne
**Page type:** city
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- Trophy product on Collins Street trades at AUD 850-1,050/sqm/year.
- Headline vacancy elevated post-2022 driven by hybrid work and supply.
- Concessions are among the richest in APAC — 30%+ effective discounts common.
- Significant 2024-2026 trophy delivery (Wesley Place 130 Lonsdale, Five Melbourne Quarter).

## Key facts
- **city**: Melbourne
- **country**: Australia
- **region**: APAC
- **classARentLocal**: A$720/sqm/yr · ≈ $43.5 PSF/yr USD
- **classARentUsd**: $43.47866479621699/sqft/yr
- **vacancyPct**: 18.4%
- **typicalLeaseYears**: 7
- **typicalRentFreeMonths**: 14
- **submarkets**: 5
- **corporateTaxPct**: 30%
- **talentIndex**: 84

## FAQ
### How material are concession packages?
Material. Effective concession packages of 30-45% (combining free rent, fitout, and rent abatement) are standard on long-term Class A deals.

### What is the Melbourne Metro Tunnel impact?
The Metro Tunnel opens 2025 with five new underground CBD stations — materially expanding rapid-transit access to the CBD core and Parkville (university and life sciences).

### How does Melbourne compare to Sydney?
Melbourne trophy rents trade 25-30% below Sydney; CBD vacancy is higher; professional services depth is comparable.

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Citation: Source: Class A Atlas (https://classa.info/cities/melbourne), updated 2026-04-15T00:00:00.000Z.