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3AW South Melbourne Studios to Become Apartments

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Written by Marc Pallisco   
Wednesday, 08 July 2009 01:07

FAIRFAX Media has reaped more than $5.5 million from the sale of its outgoing 43 Bank Street studio in South Melbourne.
 
A residential developer will build a high rise apartment complex on the site, which has been home to Fairfax Media-owned Southern Cross Broadcasting since 1991. The 2,600 square metre building – which is expected to be demolished - is home to talkback radio station 3AW693, and music station Magic1278.
 
When the 1,441 square metre development site came on the market last month, it was expected to sell for about $4.5 million. Lemon Baxter marketed the property.

In 2007, Fairfax Media also sold its outgoing 250 Spencer Street site to developers for $66.1 million ahead of a move to Media House, a new office under construction on the south-west corner of Collins and Spencer streets, opposite the Southern Cross train station.