Channel 9 to move into North Sydney skyscraper

The Nine Network will lease space at 1 Denison St in North Sydney.

The Nine Network will depart the Willoughby site in Sydney’s northern suburbs known as the home of television in Australia for an ultra-modern skyscraper that will be the tallest tower in North Sydney.

The TV station’s listed parent Nine Entertainment Comapany today unveiled plans to shift to the tower with building expected to get underway this year.

The move was foreshadowed by The Australian last November when the North Sydney site emerged as the station’s preferred option over the Entertainment Quarter at Moore Park.

Commercial Insights: Subscribe to receive the latest news and updates

The company will take up about 15,500sqm lease agreement in the 1 Denison St office tower building being developed by Winten Property Group.

The tower is slated to be completed in early 2020 as the TV station shift outs from its historic Willoughby home, which is to be redeveloped as an apartment project.

At street level, the project will include two levels of luxury shopping and restaurants and will enable Nine to take on the Seven Network’s Martin Place studios as the newsroom will be visible from surrounding laneways.

The long term lease to Nine, together with the new Metro station and North Sydney Council’s proposed road and pedestrian network upgrade, will entrench 1 Denison as a vibrant new hub for North Sydney

Nine sold the 2.9ha Willoughby site in 2015 to Hong Kong-based developer Euro Properties, which is in a 50-50 partnership with local group Lotus. The company reaped about $147.5 million and it has the potential for more than 500 apartments.

Real estate firm CBRE represented Winten in the lease negotiations and Colliers International acted for Channel Nine.

The 1 Denison St development will house Nine’s production, sales and digital operations and will become a North Sydney landmark at a time when many other buildings in the area are being converted into units.

“The long term lease to Nine, together with the new Metro station and North Sydney Council’s proposed road and pedestrian network upgrade, will entrench 1 Denison as a vibrant new hub for North Sydney and help spur the ongoing revitalisation of the North Sydney office market,” Winten Property Group development director Stuart Vaughan says.

On completion, the 39-storey, 1 Denison St tower will be the tallest skyscraper in North Sydney. CBRE regional director Mark Lacey says that Nine’s support of 1 Denison Street and North Sydney in general is a fantastic result.

“1 Denison St will be developed at the new centre of the North Sydney CBD, adjacent to the new Metro train station.”

This article originally appeared on www.theaustralian.com.au/property.