This article is from the Australian Property Journal archive
VICTORIA Police has acquired a South Melbourne site for a new complex, with the State Government believed to be paying around $23 million for the 2,714 sqm property.
The island site at 142 Dorcas St was sold by electrical group L&H after more than 50 years of ownership. It currently has a 2,000 sqm brick warehouse and 42 parking spaces.
The new complex will replace the current site at Moray Street in the city fringe suburb.
Victoria Police is consolidating its central Melbourne operations to a new complex at 311 Spencer Street that is currently under construction. Australia Post sold its half-stake in the property to Singapore’s Keppel REIT for $347.8 million one year ago, now a co-owner with Cbus Property.
The 42-level A-grade property will have 65,000 sqm of net lettable area. It neighbours the City West police complex.
The agents were Lemon Baxter’s Paul O’Sullivan and Chris Curtain.
Australian Property Journal
