Plans for a $95 million eco-brewery on Ballarat’s outskirts are off the table – with Broo Limited selling the land to a developer.
The 14.8 hectare site, 2 Liberator Way, Mitchell Park, has collected $7.5 million from Bentley Property Group.
The vendor paid Major Projects Victoria $2.16m in 2017.
Its on-sale requires Development Victoria approval.
2 Liberator Way, Mitchell Park
The Liberator Way block, on the north west corner of Ballarat Link Road, forms part of the master-planned Ballarat West Employment Zone.
Broo acquired it with plans for a manufacturing plant capable of outputting 480 million bottles a year.
Associated hospitality, a museum and concert venue able to accommodate 10,000 people also formed part of the proposal.
The concept – set to open in 2022 and employ about 100 full time staff – was thrown into doubt last August when the operator signed a two year production and distribution deal with Carlton & United Breweries.
In a statement on Friday, Broo said “the company has determined at this stage to focus on the outsourced production of its beer products through CUB and allocating funds towards marketing and distribution of its products, rather than seeking to allocate and raise the substantial levels of capital required for development of its own brewery at the Ballarat property” (story continues below).
The business had said as recently as January that it intended to proceed with the Mitchell Park proposal.
Broo was founded in September, 2009, by Kent Grogan and Kelly Davidson
It was listed on the ASX seven years later but has reported major losses – estimated to tally $20m – since.
The share price – 20c in 2016, is now 1.8c.
Broo retains a Mildura brewery, presently the subject of a Supreme Court wind-up order.
A Sorrento business at 154-164 Ocean Beach Road was listed for sale in 2019; its guide was $600,000-plus.
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