9 hours ago
Douglas Menzies Chambers sells for $23m in Melbourne CBD
A Melbourne legal chambers with front-row views of the Supreme Court and a name steeped in judicial history has changed hands for the first time in more than 30 years.
The prime corner site in Melbourne's legal heartland has been secured by an unknown owner-occupier, with Colliers confirming the $23m sale of Douglas Menzies Chambers, located at 180 William St opposite the Supreme Court of Victoria.
The 12-level building was owned and occupied by Barristers Chambers Limited since 1992, and had not been publicly offered in over three decades.
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Colliers Melbourne's Matt Stagg, Nick Garoni and Yvonne Zhou led the campaign, which attracted significant buyer interest from both owner-occupiers and investors.
'The campaign generated deep purchaser demand with more than 90 enquiries, 30 inspections and seven competitive offers,' Mr Garoni said.
'Owner-occupiers and experienced investors recognise the Melbourne CBD office market represents excellent value at this point of the cycle.'
The building sits on a 395sq m corner site at William and Little Bourke streets and enjoys panoramic views over the heritage-listed Supreme Court, founded in 1852.
Its location also places it within walking distance of the County, Magistrates' and Federal Courts, making it one of the most strategically positioned assets in the Legal Precinct.
Developed in the early 1970s following the demolition of the Four Courts Hotel, the property was named in honour of Sir Douglas Menzies, a High Court judge appointed in 1958.
It includes 12 levels of commercial office space with dual frontages, naming and signage rights, and strong future potential for refurbishment or repositioning.
The sale follows Barristers Chambers Limited's $176m acquisition of 200 Queen St in 2024 from Charter Hall. The group now occupies several floors within the tower.
Head of Colliers Investment Services Victoria Matt Stagg said commercial owner-occupiers such as Barristers Chambers are capitalising upon institutional investors divesting high quality buildings such as 200 Queen St to upgrade their accommodation.
'This provides opportunities for other businesses to acquire tightly held buildings in prime locations such as 180 William Street,' Mr Stagg said.
Mr Stagg said the rarity of the location couldn't be overstated.
'In terms of an opportunity directly opposite the Supreme Court, it's incredibly tightly held,' he said.
'That specific location is exceptionally rare. The last time a site like this changed hands was when the Barristers' Chambers bought their building in 1992.'
While the buyer has not been named, Mr Stagg confirmed they plan to make the building their long-term base.
'They're an owner-occupier, and over the next year they'll progressively move the majority of their business into the premises,' he said.
'They were extremely happy. Like the Barristers' Chambers, they're viewing this as a long-term hold.
'They see real value in the location and have no intention of leaving any time soon.'
Mr Garoni added that the long-term prospects for the CBD remained strong, particularly in precincts underpinned by legal and government activity.
'There is strong capital growth potential from the current historically low base, particularly for properties in strategic locations underpinned by industries such as the Legal Precinct, Collins Street and Bourke Street Financial Precinct and East End Government precinct,' he said.
Mr Stagg said broader market confidence was returning in 2025, particularly among seasoned investors and savvy owner-occupiers.
'In the Melbourne CBD, particularly over the past six months, we've seen a real pick-up in activity,' he said.
'A lot of the buyers have been experienced local investors who recognise how strong the capital growth potential is over the next five years. They're taking a position now while the value is compelling.'
'And for owner-occupiers like this buyer, or like Barristers' Chambers at 200 Queen St, it's about upgrading their accommodation while the timing's right.'
He added that upcoming infrastructure would help supercharge that trend.
'The Melbourne Metro Tunnel is scheduled to open at the end of this year and will dramatically improve connectivity, particularly along Swanston Street, the Bourke Street Mall, and that whole corridor,' Mr Stagg said.
'It'll make the CBD much easier to navigate and bring more people back into the heart of the city.
'We do expect it to accelerate the recovery and bring in more interstate — and possibly international, investor attention as well.'
And the momentum isn't slowing.
'Following this sale, we're working on a couple of select, high-profile sites that are set to come to market soon,' he said.
'I can't say too much just yet, but there's certainly more activity to come.'
