CBD West (Spencer Street) is a trophy-tier Melbourne submarket with average asking rent around A$800/sqm/yr · ≈ $48.3 PSF/yr USD.

  • Average asking rent: A$800/sqm/yr · ≈ $48.3 PSF/yr USD.
  • Tier: trophy.
  • Citywide Class A rent context: A$720/sqm/yr · ≈ $43.5 PSF/yr USD ($43 USD).
  • Citywide vacancy: 18.4% — submarket-level availability is typically tighter at trophy tier.

CBD West (Spencer Street), Melbourne office rents and availability

CBD West (Spencer Street) is a trophy-tier Melbourne submarket with average asking rent around A$800/sqm/yr · ≈ $48.3 PSF/yr USD.

TL;DR

  • Average asking rent: A$800/sqm/yr · ≈ $48.3 PSF/yr USD.
  • Tier: trophy.
  • Citywide Class A rent context: A$720/sqm/yr · ≈ $43.5 PSF/yr USD ($43 USD).
  • Citywide vacancy: 18.4% — submarket-level availability is typically tighter at trophy tier.

Where rent sits

CBD West (Spencer Street) averages around A$800/sqm/yr · ≈ $48.3 PSF/yr USD for Class A, against a citywide Class A index of 720. As a trophy submarket, rent runs above the city average and availability is structurally tight.

Availability dynamics

Established trophy with rail anchor. Banking, government, professional services, transport HQs.

Key facts

cityMelbourne
submarketCBD West (Spencer Street)
tiertrophy
averageRentLocalA$800/sqm/yr · ≈ $48.3 PSF/yr USD
cityClassARentUsd$43/sqft/yr
cityVacancyPct18.4%

Frequently asked questions

What is the average Class A rent in CBD West (Spencer Street), Melbourne?
Around A$800/sqm/yr · ≈ $48.3 PSF/yr USD. The citywide Class A index sits at A$720/sqm/yr · ≈ $43.5 PSF/yr USD.

Related

Editorial provenance

Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

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