High hopes for restaurant venue atop Red Hill on the market

Generations of Canberrans have enjoyed fine dining or cafe refreshments on top of Red Hill while taking in some of the best views the territory has to offer.

Now, for the first time in about 55 years, the unique dodecagon (12-sided) building that houses both hospitality venues is for sale.

The restaurant offers some 224 square metres and is accessed by a terrazzo staircase. It enjoys a bar and dance floor and draws in those fabulous views courtesy of full-length windows. A kitchen and restrooms are to the rear.

The ground floor cafe occupies approximately 116 square metres with an al fresco dining area.

Steven Shang of LJ Hooker Commercial Canberra says the building has been owned by the same family since construction and operates under a special purpose clause.

“It can only be used as a restaurant and kiosk for the sale of refreshments, confectionery and souvenirs,” he says.

“That suggests it might best suit an experienced hospitality operator with a fresh vision for both spaces.”

Shang says an owner-occupier could run both or lease one to another operator.

The building is currently leased month-to-month basis, returning approximately $113,000 per annum net plus GST.

“Serious buyers will recognise this is a rare opportunity to purchase a unique building in an iconic location,” Shang says.

Generous parking is available.

Red Hill

View property

Price guide: $1.5 million-$2 million

Expressions of interest: Close 4pm, May 27

Agent: LJ Hooker Commercial Canberra, Steven Shang 0411 374 432