Redcliffe Peninsula Value Add Hospitality/ Gaming/ Retail/ Commercial Opportunity
Colliers, under instructions from Shabnam Amirbeaggi of Crouch Amirbeaggi Receiver & Managers of NPC Golden Ox Pty Ltd, is pleased to present to the market as a freehold vacant possession opportunity The Golden Ox Restaurant and Reception Centre located at 330 Oxley Avenue, Margate for sale via an onsite Public Auction.
The property had previously enjoyed a long trading history as The Golden Ox, servicing the Redcliffe Peninsula as a licensed dining, wedding and function centre. The 1,831m²* freehold land parcel is situated on the corner of McCulloch Avenue and Bank Street with a direct frontage to the busy thoroughfare Oxley Avenue. The 663m² building interior contains a restaurant, bar and dividable function facilities connected to an outdoor garden area suitable for weddings, receptions, and other functions. The main floor sits above a 29 space car park and utility rooms.
The property has been issued with a Commercial Hotel Licence and Gaming Machine Licence (allowing up to 45 machines) with an approval from the Office of Liquor and Gaming Regulation for the refurbishment of the space to accommodate the planned gaming room. The existing Commercial Hotel Licence has approved trading hours from 10:00am to 12 midnight, 7 days a week.
The structure of the building, favourable District Centre Precinct zoning and high profile street location may lead a new owner to pursue other uses for the property beyond its current function as a licensed venue (STCA).
Margate is one of the seaside suburbs that makes up the Redcliffe peninsula situated 26km* radial kilometres northeast of the Brisbane CBD, in a growth area of South East Queensland.
The key investment attributes include:
• Well established licensed restaurant/ function centre
• 1,831m²* freehold land parcel with 3 street frontages
• 663m²* internal space plus additional outdoor function centre spaces
• Approval for gaming room (45 machines) refurbishment
• Offered with vacant possession
• Business assets (FF&E, licenses, business name) included in the sale
• Centre Zone (District Centre Precinct) under Moreton Bay Regional Council
• Significant repositioning/ redevelopment options for retail, commercial, medical and hospitality uses (STCA)
330 Oxley Avenue, Margate will be presented for sale at Public Auction to be held at the property at 11am (AEST) Thursday 26 October 2023. For further information please contact the exclusive marketing agent listed below.
*approximate
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