Kingscliff's Taverna Restaurant sells for first time in 50 years
Staff ReporterDecember 7, 2020
The premises of Kingscliff's Taverna Restaurant on the beachfront Marine Parade has sold for the first time in over five decades.
The property at 22 Marine Parade, 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.