Closing spaces
We are closing 257 rooftop parking spaces at the Elizabeth Street car park at 9 Elizabeth Street, South Yarra, following Council’s resolution to manage the Congestion Levy.
We understand this change may raise concerns about parking availability. This is why we’ve reviewed how the car park is used to understand the impact of closing these spaces.
On an average day, around 34% of the car park is currently used. After the rooftop spaces close, we expect around 57% of the remaining spaces to be used.
Closing these spaces will reduce the impact of the Levy by more than $552,000.
Parking fees
Parking fees have increased at the Elizabeth Street car park to help offset 50% of the cost of the Levy.
The fee increase forms part of Council’s broader response to the Levy, alongside changes to parking spaces and other measures to manage its cost.
For visitors to Prahran Market, one hour of free parking is available during all market trading hours with any purchase – there’s no minimum spend required. You need to request a parking voucher from a Prahran Market trader to receive the free hour.
Operating hours
From 21 October 2026 the car park will operate from 5am to 9pm, 7 days a week, instead of being open 24 hours a day.
The new operating hours support Council seeking a 50% concession on the Congestion Levy for eligible retail customer parking, helping to reduce the cost of the levy while keeping the car park open throughout the day and evening.
Monthly permit holders can continue to enter and exit the car park 24 hours a day, seven days a week.