Nine’s Willoughby site is back on the market, less than two months after receiving approval for a $400 million-plus masterplan to develop 460 apartments.
Joint venture partners Lotus Group and Hong Kong-based Euro Properties plan to flip the 2.9-hectare site, which is being marketed as having a gross realisation value of more than $1 billion.
Nine sold the site in 2015 for $147.5 million in 2015, but it is now tipped to fetch north of $200 million.
Nine expects to relocate to a tower currently under construction at 1 Denison Street in North Sydney in mid 2020 ending a 60+ year run at its Willoughby site.
It has been home to such shows as Bandstand, The Paul Hogan Show, The Mike Walsh Show, Midday, 60 Minutes, A Current Affair, Coast to Coast, The Footy Show, Today and Mornings with Kerri-Anne.
The new site comprises 16,000 square metres across eight floors of the 37 floor building with new studios, office space, meeting rooms and a garden terrace.
There were previously plans for a street level news studio, visible to public.
Source: The Urban Developer