Price dips on Nine properties
- Published by David Knox
- on
- Filed under News
The price tag for Nine’s Richmond and Willoughby sites is believed to have dropped.
Developer Charter Hall is reportedly now offering between $60 – $65m (down from $85m) for the GTV9 site and $90 – $95m (down from $120m) for TCN9.
It is believed the network is proceeding with the deal at the lower amount, because it is unlikely to receive a higher bid.
The Age reports as a portfolio, Nine, controlled by private equity firm CVC Asia Pacific, may pocket just $150 million for assets valued at $200 million six months ago.
The timing of the sale is said to have been a disaster for the network, with the credit crunch affecting the institutions that could afford large sites, and interest rates affecting potential apartment and townhouse buyers.
Representatives from Charter Hall, on behalf of the development consortium and PBL Media, representing Channel Nine, declined to comment.
Channel Nine is planning to relocate its studios to Docklands.
Source: The Age
One Response
Is there any recent news on where they will move there Sydney Studios to?
Australian Technology Park (near Channel 7)??
Or Macqaurie (with Foxtel)??