Nine puts TCN base back on property market

Nine has put its Willoughby headquarters back on the market following rezoning of the 2.9ha site for residential use.

Commercial property agents CBRE has been appointed to oversee a sale, tipped at $150m -but Nine plans to lease the property back from potential new owners for some time.

Brett Dickson, Chief Operating and Financial Officer, advised staff this morning, “This process was recently finalised and we have appointed CBRE as our agents to manage the potential sale of the site, they will be making an announcement about that appointment later today.

“If we are successful in the sale process, it means we may one day relocate from the Willoughby campus – but that will not happen anytime soon.

“In fact any sale is contingent on a lease-back provision for us to continue operating from the site, so in the meantime, it’s business as usual.

“We will keep staff informed of future developments.”

The original plan for the site was for about 600 dwellings but it was scaled back after community consultation.

Nine took the property off the market in 2012.

The TV tower is separately owned by TX Australia and is not expected to relocate.