Restaurant

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The premises of Kingscliff's Taverna Restaurant on the beachfront Marine Parade has sold for the first time in over five decades.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-kingscliff-127361418" target="_blank">property at 22 Marine Parade</a>, which is leased to the Greek-inspired modern restaurant, fetched $3.2 million through LJ Hooker Kingscliff in conjunction with Knight Frank Gold Coast.
It's only been leased to the restaurant since for around 18 months.
The restaurant on the 910 square metre B4 Mixed Use Zoning site has 60 seats and an ocean view.
The sale, marketed as a possible development site, included a coastal style beach house atop the hill.
It has five bedrooms, three bathrooms and an oceanfront balcony.
A local family are currently in a periodic lease agreement that yields nearly $50,000 per annum.
 
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Kingscliff's Taverna Restaurant sells for first time in 50 years

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The National Capital Authority is seeking expressions of interest for the sale of The Lobby restaurant.
The Canberra landmark has been closed for more than a year.
The authority said it would ensure that its heritage values are protected after the sale, NCA chief planner Andrew Smith said.
"Once sold, the NCA and the Commonwealth will remain committed to protecting and preserving the heritage values of The Lobby as well as the Commonwealth Heritage listed landscape which it forms part of," the authority's chief planner, Andrew Smith, said in a statement.
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Development of The Lobby would need parliamentary approval.
Smith expects that The Lobby be a hospitality venue, remaining as a restaurant or possibly becoming a bar or cafe.
The restaurant opened in 1968, mostly for politicians who wanted somewhere to dine near Old Parliament House.
The tender process is through Civium Property Group until March 15.
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The Lobby, Canberra for sale

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The Rockpool Dining Group is set to open his first foreign premises in Los Angeles.
The development comes ahead of leading restaurant chain Rockpool Dining Group's possible stockmarket listing, The Australian Financial Review reported.
Founded by celebrity chef Neil Perry, who last year sold the Rockpool empire to private equity-backed Urban Purveyor Group, the restaurant group has secured a site not far from Melrose Avenue in West Hollywood. 
Rockpool's previous plans for foreign site -- Spice Temple Dubai -- fell through in 2014.
The top chef’s two new Sydney restaurants, the Jade Temple at 11 Bridge Street and Rosetta at Grosvenor Square (picture above), were hatted at the recent Good Food guide gongs.
Rockpool Dining Group had recently announced it was bringing the much-loved Melbourne Italian restaurant, Rosetta Ristorante, with menus by chef Neil Perry, as part of Grosvenor Place’s $20 million piazza redevelopment.
There has been talk of a trade sale by Quadrant Private Equity, the AFR speculates.
Last November in a game changing move for the Australian hospitality industry, Quadrant Private Equity backed Urban Purveyor Group and Rockpool Group combined forces to create a multi-concept, dining and entertainment powerhouse, Rockpool Dining Group.
The move firmly establishes Rockpool Dining Group as the most dominant player in the Australian hospitality industry, with annualised revenues in excess of $350 million.
Rockpool Dining Group’s portfolio includes 47 venues, 15 dining brands, and over 3000 employees across four states. 
Rockpool signalled it plans expand to more than 80 venues by the end of CY 2017, including the group’s first venues in London.
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Rockpool plans first foreign premises in Los Angeles

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Pradella's $1 billion riverside West End development in Brisbane has two new tenants, which includes a restaurant.
Restaurateur Amit Maharaj will open his second venue in West End, having leased a 55 sqm space in the latest stage of Riverside West End for a new restaurant.
The second tenancy has been taken up by convenience operator NightOwl, which has taken up a 150 sqm tenancy.
Table 26 and NightOwl are located on the corner of Roger and Duncan Streets in West End.  
Gardens at Riverside West End, includes four buildings - Arbor, Parc, View and Rise -  with a mix of one, two and three bedroom apartments.
A few apartments remain for sale in the Gardens priced from $399,000.
Maharaj’s new restaurant, Table 26, will launch in August.
He has owned and operated the popular West End Park Cafe since 2003 and said his vision for Table 26 was to create a new 'local venue', which would operate from breakfast through to dinner.
He said the restaurant had been inspired by his father, who passed away in 2009.
Maharaj said he was drawn to Riverside because of its prime location in West End, which had become a favourite for Brisbane foodies and boasted a fast-growing local population.
NightOwl marketing manager Geoff Herbert said the new convenience store offers a broad range of products, including healthy fast food and barista style coffee.
The Riverside West End NightOwl will be the franchise's 69th store in Queensland and its eleventh across the Brisbane CBD.
Pradella director Kim Pradella said Table 26 and NightOwl would add to the lifestyle and convenience on offer at Riverside West End and the eclectic mix of restaurants, cafes and retailers in the area.
Another $75 million complex of 80 terraces is coming up in Brisbane's West End.
 
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Brisbane's West End development signs up two new tenants

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The Rockpool Dining Group has signed a deal to open two fine-dining restaurants at Coronation Property’s 8 Phillip Street project in Sydney’s Parramatta. 
Rockpool’s premium restaurants include Rockpool Bar &amp; Grill, Saké Restaurant &amp; Bar, Rosetta, Spice Temple, Jade Temple and The Cut Bar &amp; Grill. 
The 8 Phillip Street property includes Sydney’s highest rooftop venue, Studio 54, plus offerings from the development’s hotel operator QT Hotels &amp; Resorts, who are planning a bar &amp; grill restaurant and a grand ballroom. 
The development, which will also comprise more than 280 homes over 35 storeys, is expected for completion in 2020. It will incorporate 18 storeys of boutique QT Hotel accommodation.
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“The commitment by Rockpool Dining Group to open restaurants of this calibre further underpins the economic strength Parramatta CBD has to offer,” said Coronation Property managing director, Joseph Nahas. 
“As a local property developer, we know Rockpool Dining Group will be warmly welcomed by food lovers in this part of the world, and we’re excited to be partnering with them at 8 Phillip Street.” 
He said the development would raise the bar for the greater Western Sydney dining scene, and serves to confirm the importance of Parramatta’s ‘Eat Street’ precinct.
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Rockpool Dining Group was formed in November 2016 when Urban Purveyor Group acquired Rockpool Group to create the largest hospitality group in Australia, with over 55 dining and entertainment venues. It generates revenue of more than $350 million, employing around 3,000 employees across four states. 
Rockpool Dining Group’s CEO Thomas Pash said market research and customer data across “our premium brands indicates that Parramatta will welcome and support two, and possibly more, of our top restaurants”. 
 
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Rockpool Dining Group to open two restaurants in Parramatta 

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Celebrity chef Jamie Oliver has purchased six Jamie’s Italian Australian restaurants from Keystone Hospitality Group and will travel to Sydney in May to meet suppliers and launch a new menu.
According to a report in the Daily Telegraph, Jamie Oliver said its a happy ending for the restaurant portfolio.
“This is a process that I’ve never been through so it’s all very new, but it’s a really happy ending," he said.
"I wish I could have done it sooner but we got there and it’s safe to say that every cloud has a silver lining."
"I am glad the buyout of the six restaurants, which were sold for an undisclosed sum, had gone smoothly and am looking forward to arriving in Sydney on May 8.
“I believe in Australia and I’m invested in it in so many ways. I can’t wait to get over there,” he said.
The six restaurants were put on the market in July 2016 when owner <a href="/expert-insights/investing/keystone-selling-all-jamies-italian-in-one-line">Keystone Hospitality Group was placed into receivership</a>.
 
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Celebrity chef Jamie Oliver buys back restaurants from Keystone Hospitality Group

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Tenders are out to lease the upper level bar and restaurant at the Rockhampton Pier development in Queensland.
The former restaurant is currently being demolished.
The site 189 Quay Street, has more than 300 square metres of indoor and outdoor lettable floor space.
Pat O’Driscoll, principal and director, Knight Frank Rockhampton said this will be the only restaurant in this precinct that is actually cantilevered over the riverbank.
“The riverfront revitalisation will completely transform Rocky and give the city a huge tourism boost," he said.
Building will begin April for late 2017 completion.
The Rockhampton Riverfront area is currently being redeveloped and will eventually feature a fully reconstructed Quay Street, wet play area, revitalised gardens and amphitheatre.
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Tenders out for redeveloped Rockhampton restaurant and bar

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A retail investment opportunity on Coolangatta’s famous beachfront on the Gold Coast has changed hands for $1.45 million on a yield of 7.1 percent.
The property at 14 &amp; 15/120 Marine Parade, Coolangatta, was sold to Caamii Pty Ltd.
The deal was brokered by Dru Morgan of Ray White Commercial on behalf of a private owner.
Morgan said the two shops - a seafood outlet and a newsagency -  are located on the ground floor of the 4.5-star luxury Reflections Towers at Coolangatta.
“Both tenancies are on long term leases,” he said.
Morgan said the two tenanted strata shops (nearly 84 sqm) were returning a net rental income of nearly $103,000 per annum.
“This property offered a unique retail investment opportunity as there are no other beachfront retail spaces on the market in Coolangatta,” he said.
 
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Beachfront Coolangatta shops sell for $1.45 million 

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A leading bar and restaurant complex in the Brisbane suburb of Fortitude Valley has been listed for sale.
The complex at <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-fortitude+valley-502186078" target="_blank">132 Constance Street, Fortitude Valley, Qld 4006</a> comprise Alfred &amp; Constance, Alfredo's Pizzeria and Kwan Brothers.
According to the description of the property on www.realcommercial.com.au it is a profitable business providing a robust cash flow via seven-day/night trading.
The complex has a commercial liquor licence till 3 am trading.
The property has dual street frontage and is close to Fortitude Valley train station.
The property is for sale by expressions of interest closing December 14.
The listing agents are JLL - Hotels &amp; Hospitality Group's Thomas Gleeson and Tom Gibson.
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Fortitude Valley bar and eatery premises listed for sale 

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The restaurant premises in the Elizabeth Bay Encore complex have been listed for auction.
<a href="https://www.realcommercial.com.au/property-retail-nsw-elizabeth+bay-502126566">Shop 1 at 21 Elizabeth Bay Road</a> comes with 16 metre frontage and 150sqm in/outdoor space.
There is a grease trap and ventilation and a quality stainless commercial kitchen.
It has been listed for November 10 auction through LJ Hooker Commercial agent James Griffiths.
It was initially Simmone Logue's outlet, but has seen many tenants since.
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