That's Built · Building report

Nicholas Building

31-41 Swanston Street, Melbourne VIC 3000

Generated 8 November 2026
Commercial · Retail - Shop

50 mheight

10floors

1926completed

102businesses

16permits

Development milestones

Completed

1926

Nicholas Building completed: 10 floors

Building team

Developer: Nicholas family (Aspro founders Alfred and George Nicholas)
Architect: Harry Norris
Owner: Cohen and Smorgon families consortium
Architect: Urban Creative Studio
Owner: Forza Capital
Sales agent: Colliers
Sales agent: Gorman Allard Shelton

Planning & subdivision

Zone: CCZ2
Overlays: DDO1, DDO2, DDO2-A1, DDO70, HO505, HO745, PO2
Strata plan: TP387646 · 1 lots
Scores: 🚆 10 · ☕ 9 · 🌳 7 · ✨ 10

Timeline

20251 certificate · about $240k of new works
Largest: Lot 1 - Retail tenancy fitout for sushi store

2024Council census records it as retail - shop, 10 floors
Name recorded: Nicholas Building

6 Oct 2022Proposed rooftop pavilion and redevelopment plan for the Nicholas Building
Forza Capital and the Nicholas Building Association proposed a redevelopment including a rooftop pavilion with public green space and solar technology, plus a performance space and hospitality venues. Forza said it needed confirmation of state government support over 15 years to cover a reported $15 million to $20 million gap in returns.

4 Jul 2022Nicholas Building reportedly sold to Forza Capital for about $80 million
A consortium including the Cohen and Smorgon families was reported to have sold the Nicholas Building after 49 years, with local investment firm Forza Capital named as the buyer at a speculated price of $80 million. Forza was reported not to plan a major repositioning of the building.

19 Jun 2021Nicholas Building offered for sale as a repositioning opportunity
The heritage-listed Nicholas Building was put on the market through Colliers and Allard Shelton as a repositioning opportunity. The agents were reported to expect it to trade for more than $80 million, which was a projection rather than an asking price.

20211 building permit · about $363k of new works
Largest: Extension to existing canopy

2020Council census records it as unoccupied - unused, 10 floors
Name recorded: Nicholas Building

20192 building permits and 3 certificates · about $670k of new works
Largest: Removal Of Existing Digital Sign

20182 building permits and 3 certificates · about $1.5m of new works
Largest: Stage 5 - Basement Wall

20172 building permits · about $85k of new works
Largest: T114 - Frames Now Tenancy Fitout

2016Council census records it as retail - shop, 10 floors
Name recorded: Nicholas Building

20161 building permit · about $35k of new works
Largest: Shop 2B - Proposed construction of an internal alterations to an existing shop

2014Council census records it as workshop/studio, 10 floors
Name recorded: Nicohlas Building

20141 building permit · about $238k of new works
Largest: Shop 2B proposed construction of a internal alteration to an existing shop

2012Council census records it as retail - shop, 10 floors
Name recorded: Nicohlas Building

20121 building permit · about $500k of new works
Largest: Lift Upgrade

20111 building permit · about $2k of new works
Largest: Penetration treatment through a fire rated element (Floor)

2009Council census records it as workshop/studio, 10 floors
Name recorded: Nicohlas Building

20081 certificate · about $35k of new works
Largest: Internal alterations for Money Exchange Bureau (Retail), Ground Level Shop 2A.

2007Council census records it as workshop/studio, 10 floors
Name recorded: NICHOLAS BUILDING

2005Council census records it as retail - shop, 10 floors
Name recorded: NICHOLAS BUILDING

20051 building permit · about $2k of new works
Largest: level 2 office

20041 building permit · about $6k of new works
Largest: refurbishment of office

2002First council census entry: workshop/studio, 10 floors

20001 building permit and 2 certificates · about $143k of new works
Largest: stage 1 Shop fitout and signage seven-11- Ground Level

19941 building permit · about $70k of new works
Largest: Proposed Building works at KFC Swanston Street, Melbourne - Ground Floor

1926Nicholas Building completed: 10 floors
Derived from Wikipedia

Building permits and certificates (25)

Each cost is the estimate on that record. Stages of a project often repeat its full value, so these don't add up to what was spent.

17 July 2025	Lot 1 - Retail tenancy fitout for sushi store	$240k
31 May 2021	Extension to existing canopy	$363k
12 Sept 2019	Removal Of Existing Digital Sign	$300k
21 May 2019	Tenancy Fitout To Level 2	$197k
18 Apr 2019	Retail tenanancy fitout - 7 Eleven - 37 Swanston Street	$173k
01 Apr 2019	Flinders Lane Gallery - The Nicholas Building - Proposed fitout and alterations to an existing office/retail space.	$221
11 Feb 2019	Flinders Lane Gallery - The Nicholas Building - Proposed fitout and alterations to an existing office/retail space.	$221
17 Oct 2018	Stage 1 - Level 1 to 3 Enabling works - Blockwork Infill Walls and Alterations to Services	$36k
17 Oct 2018	Stage 2 - Ground Floor Wall Relocation Works	$106k
17 Oct 2018	Stage 4 - Sewer Pump Well Relocation, Emergency Exit, Ground Floor AC Alteration and Various Services Works	$1.1m
25 May 2018	Stage 5 - Basement Wall	$1.5m
18 Apr 2018	Stage 3 - Ground Floor Wall Relocation Works	$106k
25 Oct 2017	T114 - Frames Now Tenancy Fitout	$50k
18 July 2017	Shopfront Alterations - 31-41 Swanston Street Melbourne	$35k
23 Feb 2016	Shop 2B - Proposed construction of an internal alterations to an existing shop	$35k
20 June 2014	Shop 2B proposed construction of a internal alteration to an existing shop	$238k
23 Aug 2012	Lift Upgrade	$500k
11 Oct 2011	Penetration treatment through a fire rated element (Floor)	$2k
01 Feb 2008	Internal alterations for Money Exchange Bureau (Retail), Ground Level Shop 2A.	$35k
19 May 2005	level 2 office	$2k
22 Sept 2004	refurbishment of office	$6k
06 Dec 2000	tenancy fit out to Angus & Robertson bookshop	$70k
05 Oct 2000	stage 1 Shop fitout and signage seven-11- Ground Level	$73k
03 July 2000	proposed installation of alrm signalling equipment	$190
11 Nov 1994	Proposed Building works at KFC Swanston Street, Melbourne - Ground Floor	$70k

Questions and answers

Is Nicholas Building residential or commercial?
Nicholas Building is a commercial building. The City of Melbourne lists its main use as retail - shop.

When was Nicholas Building built?
Nicholas Building was completed in 1926.

How many floors does Nicholas Building have?
Nicholas Building has 10 floors above ground.

What businesses are in Nicholas Building?
The latest council census counted 102 businesses in Nicholas Building, including 7-Eleven, 99% and Ada Hodgson.

Is there office or retail space for lease in Nicholas Building?
See the commercial listings on this page, or search this address on realcommercial.com.au and commercialrealestate.com.au.

Who designed and built Nicholas Building?
Nicholas family (Aspro founders Alfred and George Nicholas) developed Nicholas Building and Harry Norris designed it. The building team section has the sources.

How tall is Nicholas Building?
About 50 metres, measured from the City of Melbourne's 3D building model. It's number 302 of 1596 buildings in Melbourne by height.

What public transport is near Nicholas Building?
Town Hall Railway Station is the nearest train station, about 1 minute's walk. The nearest tram stop is Collins St/Swanston St #11, about 1 minute's walk.

What is the planning zone for Nicholas Building?
The site is in the Capital City Zone - Schedule 2 (CCZ2). It's also under a Heritage Overlay (HO505).

Does Nicholas Building have an owners corporation?
Plan of subdivision TP387646 has 1 lot.

Has any work been done on Nicholas Building recently?
The City of Melbourne has issued 16 building permits for Nicholas Building since 1994. The most recent was in May 2021.

Sources: City of Melbourne building permits (CC BY 4.0); CLUE building information (CC BY 4.0); CLUE business establishments (CC BY 4.0); Geocoded National Address File (G-NAF) (Open G-NAF EULA (CC BY 4.0 based)). General information from public records, not legal, financial or building advice.