Zig Inge lists Prahran’s Flying Duck

The Flying Duck was refurbished in 2015.

Zig Inge Group is selling Prahran’s Flying Duck after six years.

The corner pub – which in 2014 was the subject of a six storey residential redevelopment proposal – is expected to sell for more than $7.5 million.

The vendor paid $4.375m, then immediately undertook a refurbishment.

Dietician and writer Karen Inge, has been one of the operators since.

Elsewhere in Victoria, Zig Inge Group owns the Flinders Hotel – which includes a guest house component.

It also controls retirement villages, office buildings – including one which recently replaced the airspace of a Rosella factory, in Cremorne – and Hawthorn East’s Rivoli Cinema.

The group famously turned around a major windfall in 2010 – selling the former Baillieu family home at 39 St Georges Road, Toorak, to Harry Stamoulis for c$24m – nearly $10m more than what it paid the year earlier (story continues below).

Any upper level redevelopment of the site would offer city skyline views.

Development upside

The c1891 Flying Duck building is being promoted as a freehold going concern – the two storey, 920 square metre space can accommodate up to 350 people, including in a large beer garden.

It also has development upside – the 768 sqm block at 67 Bendigo St, at the south west corner of Princes, offers city skyline views from its rooftop.

CBRE’s Scott Callow and Mathew George are marketing the asset.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.