The Victorian Bar
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Media release
Monday 7 December 2009
Victorian Bar closes the gap between East and West
The Victorian Bar, by its chambers company, Barristers’ Chambers Ltd, has
purchased the land and buildings of Owen Dixon Chambers West at 525 Lonsdale
Street, Melbourne for $54M (plus GST).
The purchase joins ownership of the two Owen Dixon Chambers buildings (East and
West) – which are already linked in physical terms.
The purchase also fulfils the original objective of the Bar when it purchased the land
at 525 Lonsdale Street in 1979 – which was to own the Chambers and secure tenure
for members of the Bar into the future.
Investigation into the viability and suitability of the purchase began in March this year
and concluded with the signing of a contract on Friday last week, with settlement
scheduled before Christmas.
“This purchase releases the Bar from constraints as a tenant of a commercial building.
Importantly, it means a security of tenure of chambers provided by the Bar that are
close to the Courts for current and future generations of Victorian barristers,’ said Mr
Michael Colbran QC, Chairman of the Victorian Bar.
‘The acquisition will strengthen and consolidate the asset base of the Bar and facilitate
the long term expansion of Barristers Chambers Ltd.
‘We made this decision after detailed reviews and advice on the commercial property
market, valuation advice and engineering advice on the building integrity and capital
works options to upgrade the building,’ he said.
Media inquiries: Alicia Patterson, Victorian Bar Media Liaison, 0403 172024
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