The main structure of the 68-year-old building, which fronts Merri Street, is also intact after fire burnt in the ceiling space between the ground and first floor.

It was a lucky escape for the legal firm, with the narrow space between the two levels suffering the most damage.

An electrical fault is considered a possible cause of the fire, as investigations continue.

Managing partner Robert Cole, who feared the worst after the blaze burnt for four hours, lauded the CFA for containing the potentially devastating fire.

``We haven't lost any of our clients' files or documents. It is a wonderful, unbelievable outcome,'' he said after inspecting the office yesterday afternoon.

Mr Cole reported the fire at 8.55am, later telling The Standard he had smelt burning electrical cable.

The firm's 30 staff were evacuated as the first wave of 60 firefighters descended on the heritage-protected building.

With fears that the whole top floor would be lost, firefighters escorted staff into the building to save computer servers, hard drives and other valuables.

``We were told we had two minutes to go in and get essential equipment,'' Mr Cole said.

``The fire was basically burning above our heads... the main thing was we were able to get our two file servers out.''

No one was injured in the blaze, which saw smoke billowing out of windows, vents and off the tiled roof towards the city.

Maddens Lawyers now look likely to temporarily step into another iconic city location, to enable the firm to continue practising.

Mr Cole is confident about moving into The Standard's former office on Koroit Street, having already inquired about its availability.

Warrnambool City Council's building inspector yesterday found the heritage-listed building, formerly Sandilands Guest House, to be structurally sound.

The property - which commands prime coastal views - has been nominated by the council for inclusion in the heritage overlay.