Channel Seven – realestatesource

Evolve Developmenet Acquires Former Channel Seven Office and Proposes $190 Million Guilfoyle Tower

May 3, 2010 Marc Pallisco Channel Seven, Evolve Development, Fridcorp, Melbourne apartment tower, Ron Walker, South Melbourne, St Hilliers, Westpac Funds Management

EVOLVE Development, the burgeoning Melbourne-based builder spearheaded by ex-Fairfax chairman Ron Walker, and business partner Ashley Williams, will develop its largest project to date in South Melbourne.

The developer is believed to have paid Westpac Funds Management about $15 million for the 35 – 47 Coventry Street development site once occupied by Channel Seven as its head office.

Westpac acquired the asset after builder St Hilliers, which bought the site from Seven in 2003, drafted a residential conversion plan for the disused office, but never proceeded with building it.