Development Victoria acquires Seven Network broadcast HQ in Melbourne

Colliers International negotiates sale of 160 Harbour Esplanade

Development Victoria has acquired the home of the Seven Network’s national broadcast centre in Melbourne in a deal negotiated by Colliers International.

Following on from a campaign in late 2017, Colliers International’s John Marasco has negotiated the sale of 160 Harbour Esplanade in Melbourne. CBRE’s Alex Moffatt acted on behalf of Development Victoria. 

“Fully leased to Seven Network for its broadcasting operations as well as commercial office space, this five-level building offered purchasers an outstanding, highly specified building in a superb waterfront location,” Mr Marasco, Colliers International Managing Director of Capital Markets, said. “It was a solid investment offered with the strongest possible lease terms in a premier office precinct.”

Situated adjacent to Etihad Stadium and minutes away from Central Pier and Southern Cross Train Station, the property is in a vibrant part of the Docklands precinct. It has a net lettable area of 8,200sqm and occupies a large site area of 6,700sqm.

Mr Marasco said 160 Harbour Esplanade represented a strategic investment in one of Australia’s best performing CBD office markets.

“Melbourne’s ongoing high demand and net absorption forecast has made it one of the most sought after destinations for investment in the country,” he said. “Docklands itself has experienced 17 years of consecutive positive net absorption and currently has the lowest vacancy rate of any precinct in the Melbourne CBD office market at just 1.2%.”

“In addition, $30billion of infrastructure expenditure is earmarked to be spent by 2020 to cater to Melbourne’s population growth, including the $10.9billion Metro Tunnel and the recent announcement of $225million to be spent by the State Government and the AFL to facilitate a major redevelopment of the Etihad Stadium Sporting and Entertainment Precinct.”

Related Experts
expert photo

John Marasco

Managing Director | Capital Markets & Investment Services

Melbourne CBD

I have been with Colliers International for over 25 years and am the Managing Director of Capital Markets & Investment Services, Australia as well as the State Chief Executive of Victoria.  

I have established a strong reputation in the Capital Markets space and have formed close relationships with major investors and institutions on a global scale. In recent years, I have negotiated some of Australia’s largest real estate transactions and have been instrumental in successfully brokering many substantial transactions with overseas investors entering the Australian market. My extensive connectivity in the global real estate market can unite capital with local expertise, regardless of location.

Our national Investment Services business represents market specializations including Capital Markets and Investment Sales. The two clear divisions servicing the Australian commercial office market ensures complete market coverage, efficiency and premium experiences and successes for our clients. 

​As a long standing senior member within Colliers International, I have played an integral role in contributing to the business's success in Australia. I hold a number of senior positions with Colliers including a member of the National Executive Board. I am committed to the success of the business by providing our people with the tools they require to deliver incomparable service and results.

View expert