SOLD
Sold on 26 Oct 2023 for $2,502,500

330 Oxley Avenue
Margate QLD 4019

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1831m2
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Sold By
Philip O'Dwyer
Colliers International Brisbane
Nick Wedge
Colliers International Brisbane
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Property Details for 330 Oxley Ave, Margate

Building Type
Commercial
Land Size
1831m2
Local Government
Moreton Bay
Lot/Plan
5/SP138936

Last Listing description (October 2023)

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 1,831m* 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 663m 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
1,831m* freehold land parcel with 3 street frontages
663m* 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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Property History for 330 Oxley Ave, Margate, QLD 4019

A timeline of how this property has performed in the market
Last Sold
$2,502,500
26 Oct 2023
  • 26 Oct 2023
    Sold for $2,502,500
  • 18 Sep 2023
    Listed for Sale Please contact agent
  • 01 Jul 2022
    Sold for $3,250,000
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About Margate 4019

The size of Margate is approximately 2.6 square kilometres. It has 12 parks covering nearly 6.8% of total area. The population of Margate in 2011 was 7,007 people. By 2016 the population was 7,390 showing a population growth of 5.5% in the area during that time. The predominant age group in Margate is 40-49 years. Households in Margate are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Margate work in a professional occupation. In 2011, 51.2% of the homes in Margate were owner-occupied compared with 53.2% in 2016.

Margate has 4,127 properties.

    There are currently 36 properties listed for sale, and 19 properties listed for rent in Margate on OnTheHouse. According to CoreLogic's data, 213 properties were sold in the past 12 months in Margate.

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