Nine Entertainment sells ‘birthplace of TV’ Willoughby site to property group for $147.5m

August 18, 2015 2:21

Nine Entertainment has signed an agreement to sell its historic Willoughby home for $147.5m and plans to move to new modern facilities within five years.

The sale to the Hong Kong based Euro Properties is subject to Foreign Investment Review Board (FIRB) approval but is expected to be completed in two years, after which Nine will be able to remain on the site, under a lease, for up to a further three years, before re-locating to new premises.

Willoughby has been Nine’s home for all its life and was the site of Australia’s first television broadcast, which featured Bruce Gyngell, dad of current CEO David Gyngell.

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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