Melbourne’s office leasing costs are the lowest on the eastern seaboard
Prime grade office space in Melbourne is 49% cheaper than that in Sydney and 15% cheaper than Brisbane.
Melbourne's office leasing costs are $525/m2 pa, compared to $1,030/m2 pa in Sydney and $620/m2 pa in Brisbane.
Prices are net face rents and are exclusive of incentives.
Melbourne’s industrial land prices are the lowest on the eastern seaboard
For a land area of 1 to 5 hectares, Melbourne is 45% cheaper than Sydney and 20% cheaper than Brisbane. Melbourne's industrial land price is $184/m2, compared to A$333/m2 in Sydney and $230/m2 in Brisbane.
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Melbourne’s gas prices are the lowest on the eastern seaboard
Melbourne is 39.2% cheaper than New South Wales and 68.5% cheaper than Queensland for a medium gas user site of 10,000 GJ pa. Melbourne's gas price is $7.82/GJ, compared to $12.86/GJ in New South Wales and $24.79/GJ in Queensland.
In a fully contestable market, final pricing is subject to negotiations with the gas supplier.
Melbourne is a cost competitive destination for foreign and interstate investors because it offers the lowest gas, office leasing costs and industrial land prices on Australia's eastern seaboard. It is ranked third cheapest in the world for office space behind, Bangkok and Shanghai.
Melbourne's office leasing costs are the lowest on Australia's eastern seaboard
- Melbourne is 49 per cent cheaper than Sydney and 15 per cent cheaper than Brisbane
- Melbourne office leasing costs are A$525 per m2 per annum, Sydney's office leasing costs are A$1,030 per m2 per annum, and Brisbane's office leasing costs are A$620 per m2 per annum
- Prices are net face rents and are exclusive of incentives
Source: CBRE Research, Marketview Australia Office, Q1 2017
Melbourne's industrial land prices are the lowest on the eastern seaboard
- For land 1-5 hectares:
- Melbourne is 54 per cent cheaper than Sydney and 27 per cent cheaper than Brisbane
- Melbourne's price is A$193 per m2, Sydney is A$420 per m2 and Brisbane is A$265 per m2
- An example of a 1-5 ha industrial land user is data centre, pharmaceutical factory, food processing factory
Source: Knight Frank Research, June & September 2017
Melbourne's gas prices are the lowest on the eastern seaboard
- For a medium gas user site of 10,000 GJ per annum:
- Melbourne is 30 per cent cheaper than New South Wales and 47 per cent cheaper than Queensland
- Melbourne's price is A$14.31 per GJ, New South Wales is A$20.30 per GJ and Queensland is A$26.94 per GJ.
- An example of a medium user would be a small-scale food processing plant
- Prices are for delivered retail natural gas
- Invest Victoria commissioned Energy Advice to prepare a report comparing electricity and gas pricing of a variety of customers across Victoria, New South Wales and Queensland, that is, the eastern seaboard of Australia
- The report benchmarked three types of gas users based on consumption
- EnergyAdvice was recently acquired by Energy Action a leading provider of Energy Procurement, a contract management & energy reporting and projects & advisory service
Source: EnergyAdvice, Electricity and Natural Gas Independent Price Comparison Report September 2017 (commissioned by Invest Victoria)
Scenarios were created for three delivered retail natural gas user types based on consumption.
Delivered retail natural gas