Southbank is a prime-tier Melbourne submarket with average asking rent around A$750/sqm/yr · ≈ $45.3 PSF/yr USD.

• Average asking rent: A$750/sqm/yr · ≈ $45.3 PSF/yr USD.
• Tier: prime.
• 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 prime tier.

TL;DR

• Average asking rent: A$750/sqm/yr · ≈ $45.3 PSF/yr USD.
• Tier: prime.
• 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 prime tier.

Where rent sits

Southbank averages around A$750/sqm/yr · ≈ $45.3 PSF/yr USD for Class A, against a citywide Class A index of 720. As a prime submarket, rent runs at or above city average with mostly tight availability.

Availability dynamics

Mixed-use trophy across the Yarra. Corporate HQs, hospitality, arts, professional services.

Key facts

Frequently asked questions

What is the average Class A rent in Southbank, Melbourne?

Around A$750/sqm/yr · ≈ $45.3 PSF/yr USD. The citywide Class A index sits at A$720/sqm/yr · ≈ $43.5 PSF/yr USD.

Related

• Southbank — submarket overview
• Melbourne — full city profile
• Melbourne submarkets — all
• Southbank — Tenants
• Southbank — Transit
• Southbank — Amenity
• Southbank — Buildings

Editorial provenance

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

Primary sources for this page

• CBRE Marketview reports — CBRE
• JLL Office Insight — JLL
• Cushman & Wakefield Marketbeat — Cushman & Wakefield
• Savills World Research — Savills
• Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction

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