Nine revisiting sale and lease plan

The on-again-off-again campaign to relocate GTV Nine from its long time 22 Bendigo Street headquarters, may be on again.
 
Sources say the network is entertaining an idea to offload its Richmond home of 53-years, and tip funds into a higher-tech premises closer to town.

PBL Media is understood to be seeking about 8000 sqm and would consider a pre-commitment, but this couldn’t be confirmed.

A sale-and-leaseback of the Bendigo St asset is another option.

Any listing comes two years after the vendor entered a $200m agreement with a consortium comprising Charter Hall for two studios (Richmond, which was priced at c$80 million, and Willoughby, Sydney).

However following the Global Financial Crisis – it was speculated the incoming purchaser requested a discount to $165m (with c$60m for 22 Bendigo St) – after which Nine pulled the properties from sale.

Popular television shows filmed at the Melbourne studio include The Don Lane Show, The Paul Hogan Show and Graham Kennedy’s In Melbourne Tonight.

In 2007, Channel Seven sold its South Melbourne studio to Fridcorp for $15m, then relocated to Docklands.

Network 10 leases space at South Yarra’s Como building.

The ABC is expected to offload two Elsternwick properties, including an 8000 sqm tract abutting historic Rippon Lea, ahead of a Southbank relocation.

SBS is based at Federation Square.

Related article: Nine Network to Sell Richmond Studio to Lend Lease For $52 Million

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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