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).
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.
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