Beloved XO restaurant fit-out open for expressions of interest

It’s the Canberra restaurant that has spent the past eight years pushing the boundaries with an authentic, modern approach to Asian dining, and now the fit-out of XO in Narrabundah is up for sale. 

The fit-out is currently secured through a lease that extends for another two years through to June 2025, with the option for an extension. 

XO co-founder Greg Lally says that while the intention is to sell the assets – not the business – to the right applicant, the sale of the business will also be considered. 

The Iluka Street space was designed by award-winning architecture firm Capezio Copeland and features a distinct fit-out that creates a delightful dining experience.

The glass bricks, custom benchtops, wooden feature wall and custom metal wrap are just the beginning when it comes to the design of the restaurant, and the atmosphere is evident from the moment you walk in the front doors. 

XO’s owners announced in May that the much-loved institution would be closing in October, and while the announcement came as terrible news for those of us who are partial to their famous Asian bolognese, it’s created an opportunity for the space in Canberra’s south to take on new life. 

Included in the sale listing of the fit-out are all the design features the space is known for, including crockery and cutlery, high-end furnishings – including chairs, stools, tables and lighting – and the state-of-the-art commercial kitchen. 

Lally says the space has a rich history of reputable hospitality occupants. 

“It was once home to Das Kapital, a beloved suburban gastro pub that graced the local community for numerous years,” he says. “Then, in 2012, it underwent a transformation, evolving into The Artisan. 

“That history laid a strong foundation that perfectly set the stage for XO’s subsequent triumph.”

Located at the Narrabundah shops, the restaurant has both inside and outside space, and the al fresco dining fit-out – complete with bay trees and pot plants – is also included in the sale. 

“The Narrabundah shops have always evoked a sense of nostalgia within the neighbourhood,” Lally says. “In their current state, it’s evident that they’ve transformed into a vibrant food hub.

“Narrabundah holds a special place in my heart. My mother’s upbringing in this area connected me to it as well. I have fond memories of visiting my grandparents [and] exploring these very shops during my childhood.”

Reflecting on the time XO has had in the space, Lally says “the persistent late nights, sacrifices of life events, and moments missed with our loved ones” have all been worth it. Now, he hopes someone else will be able to have the same success. 

“This space played a pivotal role in realising our own dreams, and it stands prepared to do the same for [the next proprietor].”

Luckily for Canberrans, it seems likely the space we know and love will live on to create more memories in the years to come – and hopefully, that includes a menu that will fill the Asian bolognese-shaped hole in our hearts. 

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