Paul Mathis is selling a Melbourne CBD factory acquired two years ago for an upmarket wine bar.
The brick and bluestone building at 61-69 A’Beckett St was one of nine offered in 2006 by Abaris Printing and Publishing, which had relocated to Derrimut.
The restaurateur paid $3.07 million then; the site spreads 427 square metres and has residential redevelopment potential.
Colliers International’s Matt Stagg and Pat Burke are expecting about $4m now.
In March, Mr Mathis committed to a three level space at the refurbished Duke of Wellington on Flinders St; it will reopen as The Dow mid-year.
That rental agreement with the Schwartz family will result in the chef closing the 100 Mile Cafe at Melbourne Central.
The restauranteur also holds Joe’s Garage in Fitzroy, Blue Train and Automatic in Southbank and Soulmama at St Kilda.