Colliers are exclusively engaged by Barristers’ Chambers Limited (BCL) to offer Douglas Menzies Chambers, 180 William Street, Melbourne for sale by International Expressions of Interest closing Thursday 27 March at 2pm (AEDT). Matt Stagg, Nick Garoni and Yvonne Zhou are managing the campaign with an expected sale price around $25,000,000.

The property boasts a prestigious location in the heart of the legal precinct, upon the corner of William Street and Little Bourke Street, directly adjacent to The Supreme Court of Victoria.

Matt Stagg, Head of Investment Services Victoria said, “The property is strategically positioned for a law firm seeking a prominent legal precinct headquarters with valuable naming and signage rights. A law firm may owner-occupy all or part of the building and lease the balance to other legal tenants.”

The legal precinct is one of the most robust sectors of the Melbourne CBD office market, given law firms need to lease accommodation within walking distance of Melbourne’s major courts for their staff and clients. The Supreme Court, County Court, Magistrates Court and Commonwealth Law Courts building are all located along William Street, between Little Bourke Street and La Trobe Street, within 250 metres of 180 William Street.

Douglas Menzies Chambers, 180 William Street, Melbourne constructed circa 1973 comprises a 12-storey office building with a total net lettable area of 3,401 square metres*. The average floor plate has a net lettable area of 303 square metres* and benefits from abundant natural light and view lines from two sides. Offices with north facing windows also provide a stunning aspect overlooking the Supreme Court.

The highly prized freehold sits upon the former Four Courts Hotel site with an underlying land area of 395 square metres and two main street frontages to William Street (20.93 metres*) and Little Bourke Street (19.00 metres*).

It is the first time the property has been offered for sale since 1992 when it was acquired by BCL. 

Barristers’ Chambers Limited’s (BCL) purpose is to be the home of the Victorian Bar, open to all. Established in 1959 as a wholly owned subsidiary of the Victorian Bar, BCL is a unique model providing a broad range of chambers, technology network services, full service desk support and managed floor service to over 1,400 barristers in seven buildings.

BCL recently purchased Aickin Chambers at 200 Queen Street, Melbourne and are currently upgrading and consolidating their accommodation portfolio. Accordingly, 180 William Street is being offered for sale with levels 1 to 11 available with vacant possession. There is a leased café on the ground floor.

Nick Garoni, Senior Executive, Melbourne City Sales said, “180 William Street presented alternate investment and value add opportunities that may be explored, including refurbishment and re-leasing, strata subdivision, construction of additional levels or conversion to alternate use (STCA). The 303 square metre* floor plates are ideally suited to whole floor strata offices that may be sold down individually to private law firms and other owner-occupiers.”

Matt Stagg concluded, “180 William Street truly presents the opportunity for an astute owner-occupier or investor to acquire a once in a generation Melbourne CBD corner freehold. The strategic location opposite the Supreme Court and competitive price range positions the property for future rental and capital growth during the next cycle as the Melbourne CBD market continues to improve.”

(*Approximately)