The deal was negotiated by Knight Frank on behalf of ARA Australia.

The relocation is a result of JB Hi-Fi’s acquisition of The Good Guys in 2016 and the company’s desire to centrally locate both businesses in a new headquarters in the Melbourne Fringe.

ARA Australia’s Head of Asset Management, Rohan Neville, says they are delighted to welcome JB Hi-Fi to Southgate

"The move reinforces the strong demand from tenants to relocate to high-quality office accommodation and the attractiveness of Southbank given its outstanding accessibility and amenity," Mr Neville said.

Richard Murray, JB Hi-Fi Group CEO, added, “we are excited to bring two of the best retail teams in Australia under one roof and are really pleased to have found such a great location in Southgate.”

Knight Frank’s James Pappas, Director, Office Leasing, VIC brokered the leasing deal in conjunction with CBRE.

Steven Kingston and Lachie Devine from Charter Keck Cramer acted on behalf of JB Hi-Fi.

"Since 2005, employment in Southbank has increased by 9,300 people with the Arts and Recreation Services sector being the biggest employer, however, in the last ten years, the Professional Services sector has driven the greatest employment growth in Southbank," Mr Pappas told WILLIAMS MEDIA.

The Victorian state government has pledged to commit $208 million over two years for a 'once in a generation' redevelopment of the Southbank Arts precinct.

This deal is expected to further enhance Southbank, in turn creating thousands more jobs and attracting millions of visitors.

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