There was some work done on the old Post Office and Cory Chambers last year. I'm presuming that was done to ensure they were structuraly sound and weather-proof - so they could be planning on sitting on the site.

I think the best bet for the site is some kind of resi-hotel redevelopment. The Bay could do with another hotel, and the apartment market will come back.

I don't think theres much hope for more office development (with the exception of perhaps another media building) for quite a few years in the bay, given the focus on the Central and Callaghan Square areas and Capital Quarter.