Rent per Square Metre Calculator
Standardise your commercial rent. Convert your payments into the $/sqm/pa rate used across the Australian property industry.
Rent & Area Details
Understanding Rent per SQM
In Australian commercial real estate, rent is almost always discussed as an annual rate per square metre (e.g., "$450/sqm"). This allows for easy comparison between different sized premises. For example, a 50sqm shop at $1,000/sqm costs the same as a 100sqm shop at $500/sqm.
Sqm vs Sq Ft (A Note for International Users)
While the US and UK often use square feet (sq ft), Australia uses square metres (sqm). 1 square metre is approximately 10.76 square feet.
Pro tip: If you are looking at a US-based resource and they mention $50 per square foot, that roughly equates to $538 per square metre in Australia.
Need to model more complex outgoings, rent reviews, rent-free incentives, or fitout contributions alongside your square metre rates? Run a full projection using our Commercial Rent Calculator Australia.
Comparing two offices by rent per square metre
A rent per square metre figure lets you compare spaces of different sizes on equal terms. Divide the annual rent by the lettable area and you get a rate you can hold up against other listings, agents' market reports and your current lease.
The calculator converts weekly rent to a year using 365 days (weekly ÷ 7 × 365) and monthly rent by multiplying by 12, then divides by the area you enter.
Worked example: two office offers
Offer A is 180 m² at $6,500 a month. Offer B is 210 m² at $1,700 a week. Both are quoted gross, excluding GST.
- Offer A annual rent ($6,500 × 12)
- $78,000
- Offer A rate (÷ 180 m²)
- $433.33/m²
- Offer B annual rent ($1,700 ÷ 7 × 365)
- $88,642.86
- Offer B rate (÷ 210 m²)
- $422.11/m²
- Cheaper per square metre
- Offer B
Offer B costs more in total ($10,643 a year extra) but less per square metre. Whether it's the better deal depends on whether you need the extra 30 m².
Common mistakes
Mixing gross and net rates
A net rate excludes outgoings, which can add a significant amount per square metre. Convert both offers to the same basis before comparing.
Not checking which area is measured
Offices are usually quoted on net lettable area, while industrial and some retail use gross lettable area. Ask how the area was measured.
Forgetting GST
Commercial rent is usually quoted plus GST. Make sure both figures are either including or excluding it.
Leaving out car parks and storage
Car spaces and storage are often charged separately and are not included in the rate per square metre.