Nine sells Willoughby site to Euro Properties

Nine sells Willoughby site to Euro Properties
Nine sells Willoughby site to Euro Properties

Nine Entertainment Company today announced it has agreed to sell its Willoughby headquarters for $147.5 million.

Hong Kong-based property investor Euro Properties has purchased the site under a lease for a further three years after the sale is complete in 2017.

The sale is still subject to FIRB approval. The NSW Land and Environment Court has allowed a maximum number of apartments to 400 units, housed in five planned buildings which will be limited to a maximum height of eight storeys.

Nine Entertainment's Simon Kelly said the sale would allow the company to re-locate to new state of the art facilities.

The Willoughby site was the first in Australia to begin regular TV transmissions on September 16, 1956.

Nine noted the Willougby studio is the last original TV station in Sydney, with the ABC leaving Gore Hill in 2003 and Seven exiting Epping in 2009.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Property Development Property Sale

Comments

Be the first one to comment on this article
What would you like to say about this project?