Southbank is a prime-tier Class A submarket of Melbourne with average asking rent around A$750/sqm/yr · ≈ $45.3 PSF/yr USD.
Mixed-use trophy across the Yarra. · Tier: prime · Avg rent: A$750/sqm/yr · ≈ $45.3 PSF/yr USD
Southbank anchors Melbourne's mixed-use trophy stock across the Yarra — corporate HQ, hospitality, and arts tenancy with the river and Melbourne Arts Precinct adjacency.
Corporate HQs, hospitality, arts, professional services.
15–40,000 sqft floor plates available across newer Class A stock; 9'+ slab-to-slab and modern MEP common.
Flinders Street (Metro Trains), trams.
Multi-modal transit captures the metro's principal professional catchment.
Crown Melbourne, Hamer Hall, Melbourne Arts Precinct.
Southbank is one of 5 Class A submarkets we cover in Melbourne, classified as prime tier with an average asking rent around A$750/sqm/yr · ≈ $45.3 PSF/yr USD. Compared with the broader Melbourne Class A stock, Southbank typically attracts Corporate HQs, hospitality, arts, professional services and competes most directly with the city's other prime submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside Southbank: CBD East (Collins Street), CBD West (Spencer Street), Docklands, Parkville & CBD North. The full Melbourne submarket atlas is at /cities/melbourne.
For an institutional Class A occupier evaluating Southbank, the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to Melbourne Class A leasing and to the prime tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.