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Speculation surrounds the future of the space and an adjacent site, formerly Roosters of Roslyn, both owned by Dunedin real estate agent Mark Stevens.
A Dunedin City Council resource consent allows sub-division of the area into two fee-simple lots, one with frontage to both Highgate and Ann St and a second containing nine commercial units and a dozen parking spaces.
A Roslyn business owner said rumours had been circulating for several years that apartments were proposed for the site.
Mr Stevens would not be drawn on what was planned, saying only he hoped to announce plans for the site in about two weeks.