Family Court of Australia in Dandenong for sale again

The building, on a battle-axe shaped site, is tenanted to the commonwealth government for five years.

The Family Court of Australia in Dandenong is for sale again.

The investment, 53-55 Robinson Street, hit the market in late 2018 for over three months before being withdrawn.

At the time, the guide price was $10 million-plus.

Following this campaign, CBRE’s Scott Orchard, Scott Hawthorn and Jimmy Tat with Gross Waddell’s Michael Gross and Alex Ham are expecting a 10 per cent lift.

The commonwealth government has occupied the three storey 2729 square metre property with 50 car parks since 1983 (story continues below).

The site (marked) is in central Dandenong, about 550 metres from the train station.

Its current lease expires in 2025 after which time the 2371 square metre Comprehensive Development zoned land could be considered for a building rising more than seven storeys.

About 550 metres to Dandenong train station, the property has 16 metres of Rodd St frontage.

It previously traded in 2012 for $6.6m – not much more than it achieved six years earlier ($5.71m). In 1997 it exchanged for $2.6m.

The listing comes two months after Newcastle family court sold with a neighbouring office to Marprop for $35.3m.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco