Gary Morgan has purchased a warehouse-converted Fitzroy bar.
The Roy Morgan Research owner and Lord Mayor candidate paid $5.082 million for 87-89 Moor Street, outbidding two other suitors at auction.
It is understood the vacant property will be occupied by his son, Monte, who is half of the Indie pop band Client Liaison.
The 592 square metre Commercial 1 zoned plot, two holding from Brunswick St and the Perseverance Hotel, is configured with an open-air forecourt, used for outdoor dining, and a vintage Airstream caravan.
The double storey building, with a 1.5 bedroom unit as well as the bar, kitchen, toilets and storeroom, spreads 550 sqm.
The site is licensed for 200 guests (story continues below).
Gross Waddell ICR’s Raff De Luise, who marketed 87-89 Moor St with Julian Materia, wouldn’t comment on the buyer but of the auction said 81 bids were received.
The property was marketed to developers, investors and occupiers.
Its sale comes two weeks since Australia Post offloaded the Fitzroy Business Centre for c$14m to apartment developer Piccolo.
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