Government buys Seven building

Development Victoria (DV) now owns the Channel Seven building in Harbour Esplanade, having last month bought it from motoring body NRMA.

The purchase (reported in the Australian Financial Review as worth about $100 million) gives the government developer more options as it collaborates with the AFL to redevelop Etihad Stadium and the Harbour Esplanade precinct more generally.

A DV spokesperson said: “The purchase of 160 Harbour Esplanade presents an opportunity for the Victorian Government to develop long-term strategies to revitalise the Docklands Stadium and waterfront.”

 “The Victorian State Government is funding $225 million towards the redevelopment of Docklands Stadium so it can continue to bring Victorians world-class sport and entertainment events for the next 30 years.”

The AFR reported that the 8237 sqm building was fully leased to Seven, with about seven years remaining on the lease.