Cheeky entree-sized bid fails to satisfy at Hellenika auction
THE high profile home of restaurant king Simon Gloftis's original Hellenika eatery on the Gold Coast has failed to sell at auction after attracting one entree-sized bid.
Unlike its mouth-watering menu that regularly books out its tables, only one bidder was tempted to put in an order for the freehold of the culinary mecca.
The interstate bidder's opening bid of $2.5 million was deemed a serving too small and rejected by auctioneer Nigel Long.
A slightly meatier offer of $3 million was made but without any further bids placed the property at Nobby Beach was passed in on a vendor's bid of $5 million.
It is understood post-auction negotiations are ongoing with a couple of interested parties.
Colliers International Gold Coast director Steven King, who was marketing the property, said more than 40 inquiries were fielded from investors across Australia during the campaign.
In the lead-up to the auction, Mr King remarked: "There's hasn't been too many offerings served up like this lately … at least, not one with the calibre of this tenant,".
The award-winning restaurant has been a key ingredient in putting southeast Queensland on the foodie map.
In an affluent catchment - close to the Gold Coast's millionaire rows of Hedges Ave and Albatross Ave - the property was touted to be a tempting trophy asset for a resident rich-lister.
"Certainly having Simon Gloftis, who is regarded as a top restaurateur in Queensland, as a tenant it has to be up there," Mr King said.
"And everybody knows it all started from this one in Nobby Beach … that's where Hellenika got such a good name."
Owned by an entity linked to the Gloftis family, the 690sq m building fronting the Gold Coast Highway has undergone a multimillion-dollar renovation in recent times - including the addition of a rooftop bar and dining area.
Building on its success, Gloftis last year opened a much-anticipated sister venue, Hellenika Brisbane, the Calile Hotel's flagship restaurant in Fortitude Valley's James St precinct.
It was deemed "undeniably special" and named Queensland's Restaurant of the Year in The Courier-Mail Food Awards 2019.
On a prominent 435sq m site at 2235 Gold Coast Highway, the original Helleinika site was dished up to the market with a new seven-year lease term plus two five-year options, giving its potential new owner a tasty net rental income of $299,400 plus GST a year.