End of an era as ABC sells Gore Hill studio
The ABC has sold the landmark Gore Hill studio where it began broadcasting in 1956.
Goodman is the buyer, paying $94.87 million, a seven per cent rise on the late 2022 book value ($88.8m).
A seven level, 52 metre high data centre is planned; the property spreads 1.4 hectares in the tightly held Artarmon industrial pocket which covers 64ha between Francis, Herbert and Westbourne streets, the Pacific Highway and the M1.
In the meantime, it will lease the property, also known as Studio 26, which contains four standalone structures, including a multi-level car park, all up containing 42,000 square metres.
The deal comes almost two years since the public broadcaster sold its Ripponlea, Melbourne, studio to Milieu and the Besen family, for $28.875m.
On 1.174ha abutting the Ripponlea estate, that site, also known as the Gordon Street studio, is earmarked for an apartment project.
In 2017, meanwhile, the ABC banked $51.7m offloading its former Elsternwick studio – near Gordon St – to Woolworths which is intending a residential based mixed-use project with a lower level supermarket.
At least three apartment towers are also earmarked for the broadcaster’s ex-Toowong, Brisbane, studio, covering 1.26ha, which sold to Sunland in 2013 and again in 2021, to Consolidated Properties Group.
Artarmon is nine kilometres north of Sydney (story continues below).
End of an era
The Goodman property, covering 2-8 Lanceley and 14 Campbell streets, was listed in late 2021; Knight Frank’s Scott Timbrell and Angus Klem were the agents.
The ABC relocated key functions undertaken there to Ultimo two decades ago, however it used the property for other purposes until last year.
Elsewhere in the immediate area, Next DC last year completed a nine level data centre on a 1.25ha block it bought from Lindsay Bennelong Developments in 2018 for $90m, while Ausgrid four years ago constructed a multi-level office/warehouse.
The Gore Hill holding is also near Channel Nine’s ex-Willoughby studio on 3.2ha at 6-24 Artarmon Rd, which that media group sold after nearly 60 years, in 2015, for $147m.
That buyer, Michael Jiang’s Lotus Capital and Hong Kong based Euro Properties, later flipped it for $249m to Mirvac permit-ready for a residential project.
Lendlease, meanwhile, has also in recent years been replacing Nine’s Bendigo St, Richmond, studio with apartments and, recently, a vertical aged care complex.
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