Barristers’ Chambers Limited lists legal precinct office
Barristers’ Chambers Limited is parting with a prominent Melbourne legal precinct office after 33 years.
The legal chambers at 180 William Street, on the north east corner of Little Bourke, carries $25 million price hopes.
Developed in 1973 on the site of the Four Courts Hotel, it was recently vacated by the seller.
BCL, a subsidiary of the Victorian Bar, paid $6m, branding it Douglas Menzies Chambers.
BCL reweighs portfolio
BCL quit Douglas Menzies Chambers for 200 Queen St, which it bought from Charter Hall last July for $177m.
That asset contains 19,736 square metres over 32 levels – of which the legal group occupied about three quarters – and naming rights; it is Aickin Chambers.
A 10 storey 500 bay car park was also part of the deal (story continues below).
Elsewhere in town, BCL owns Isaac Chambers, Owen Dixon Chambers East and Owen Dixon Chambers West, the latter which it bought for $54m in 2009 – seizing control after offloading 23 years earlier with a leaseback.
New name for corner office
On 396 sqm, Douglas Menzies Chambers contains 3401 sqm over 12 levels; the average office floorplate is 303 sqm.
Adjacent to the Supreme Court of Victoria, there is also a ground floor retail space, leased to a café.
A re-letting or strata subdivision of the office space, or an extension via additional levels, could be considered by an incoming owner, Colliers’ Nick Garoni, who is representing BCL with Matt Stagg and Yvonne Zhou, said.
Alternatively, the property could find favour with an occupier, presumably a law firm, which could also rebrand it, according to the executive.
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