Melbourne's Southbank attracting commercial tenants away from St Kilda Road

Southbank is emerging as one of Melbourne’s most sought after office tenancy localities.

Australian education and training provider Real Institute recently leased a whole floor office, spread over 1,300 square metres, at level 3, 4 Riverside Quay.

The tenant has committed to a three-year term.

CBRE’s Anthony Park negotiated the deal for Cargill Australia, while Jay Pavey from Leon Baxter acted for Real Institute.

Real Institute moved to Southbank because of its prime location, easy access to lifestyle amenities and transport linkages, Park said.

“The Southbank precinct is currently benefiting from significant residential and commercial growth, with a number of businesses including Real Institute and PWC committing to spaces in the area,” he said.

“The limited A-grade space currently available along St Kilda Road is prompting tenants to consider other city fringe locations, such as Southbank."