Major network HQ sells in multimillion-dollar deal
THE home of the one of the region’s major television networks has sold in a multimillion-dollar deal.
Channel 7 Sunshine Coast’s headquarters at 140-142 Horton Pde, Maroochydore, sold for $6.75 million, with Brisbane-based investors snapping up the high-profile site.
The site, previously owned by Channel Seven Queensland Pty Ltd, was sold with a 10 year triple net lease with Channel 7, which selling agent Nick Dowling of Colliers International said had made it a “very attractive” prospect.
Located in the principal activity centre zoning, backing onto the new Maroochyore CBD, the site had a height limit of up to 40m, offering a long-term redevelopment opportunity.
Mr Dowling said he’d fielded about 130 inquiries on the property, and the price had “bettered expectations” after the expressions of interest process.
The 2137sq m site had 30 car spaces, two street accesses and frontage to three streets, and a net income of about $433,550 in year one.
In February, Channel 7 Queensland boss and Victoria Cross recipient Ben Roberts-Smith played down rumours of major cuts to production staff in the network’s regional newsrooms.
Sources told the Daily camera operators had been axed across the state, while local news bulletins on public holidays was also being reconsidered.
Mr Roberts-Smith scuppered those rumours, saying there had been no change to the network’s commitment to regional Queensland.
It came after a number of favourite shows had been announced as cancelled, including Creek to Coast, Queensland Weekender and The Great Day Out, with funds to be redistributed to national prime time shows Big Brother and Farmer Wants A Wife.
It was unknown whether the sale of the Maroochydore office was connected to the previous changes to the network.
Mr Roberts-Smith has been contacted for comment.