Last drinks at the Gardens
Tavern came at a cost - with the University of Otago
confirming the price it paid for the Castle St pub.
Yesterday, the university took possession of the popular
student watering hole, and confirmed it paid $1.75 million
excluding GST for the property.
The tavern was put on the market earlier this year, and had a
valuation of $1.025 million.
Owner Pete Innes-Jones closed the doors of the tavern at
midnight last Friday - a day earlier than scheduled -
following concerns the All Blacks v Wales test would draw a
big crowd to the area.
Castle St has been the scene of mass disorder in recent
years, and Dunedin authorities had put a temporary liquor ban
in place.
The university denied rumours it paid more to secure the
early closure of the tavern.
Chief operating officer John Patrick said the university
bought the tavern because it was for sale and it "has a use
for the property".
The tavern was likely to be turned into a student study
centre, which would help alleviate pressure on the central
library, he said.
However no final decision had been made, he said.
- hamish.mcneilly@odt.co.nz
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