Middle Park drinking institution the Gunn Island Hotel failed to sell at a scheduled auction on Thursday, but sold to one of the losing bidders later that day.
Foster’s move raises speculation it will eventually offload its iconic CUB Brewery site, which sits on 9 hectares of riverfront land overlooking Kew’s Studley Park. Industry insiders are divided about whether this will happen.
Hot on the heels of its $208 million sale of Sydney’s Carlton & United Beverages brewery site to Singapore-based Fraser Properties in June, the Foster’s Group is about to put a portfolio of Melbourne inner city buildings on the market.
