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

Nine's outgoing Bendigo Street Richmond studioIT may be the end of an era in Richmond, with Sydney-based developer Lend Lease understood to be in advanced negotiations to buy Network Nine’s Bendigo Street studio, for about $52 million.
 
The Richmond property, home to Nine since 1956, is expected to be redeveloped into a mix of apartment towers with about 600 units.
 
An office component, and some form of ground floor retail, may also be included in any redevelopment of the three hectare site, but this could not be confirmed with Lend Lease project director Maurice Cococcia, who declined to comment on any part of a deal when contacted by Capital Gain.
 
Representatives from Nine’s owner, PBL Media, failed to return calls.