Townsville business the Pier Restaurant on Breakwater Marina is for sale

A Townsville marina site with a long history as an entertainment venue is looking for new owners.

The Pier restaurant overlooking the Breakwater Marina is for sale.

One of Townsville’s premier waterfront dining venues for sale with a $1m price tag.

The Pier Restaurant on Breakwater Marina is being marketed by Re/Max Real Estate Services.

Re/Max director Ray Murphy said the freehold structure, which fronts Sir Leslie Thiess Dr and extends over the marina on a 40-year lease, needs only cosmetic work.

He said it also offered redevelopment potential.

“It’s a very prominent restaurant,” Mr Murphy said.

“Back in its day it was the place to be on the marina.

“It has almost 270 degree views of the area and one of the best outlooks for a floating restaurant.”

The site has an interesting history and predates the development of The Ville Resort-Casino.

Once The Barge Inn, it resembled a paddle steamer and was a meeting place for business luncheons before it was destroyed by fire on December 29, 1985.

Inside The Pier Restaurant.

Later redeveloped, it has been the scene of many a family celebration until it closed at the start of the Covid-19 pandemic in 2020.

The Pier Restaurant has a long and interesting history.

Mr Murphy said it could be reopened as a restaurant and bar or there was scope for redevelopment.

There is scope to redevelop the property.

“The structure below is very solid,” he said.

An early picture of The Barge Inn, now The Pier Restaurant, before development of the Breakwater Marina.

According to the property’s information memorandum, the impressive foundations of the

structure were originally designed to accommodate a three-storey building including two

stories of restaurant and function facility with a three-bedroom residence as the top floor.

“The previous use of the asset should not limit the scope of its future potential,” it said/.

“The original

structure was three storeys high with the original structural support, foundations and

footings still in place beneath the current improvement.

“This could indicate that a three-storey building could potentially be returned to the site one day.

“A material change of use along with a major redevelopment of the current facility could alter the potential value of the property dramatically.”

The 1012sq m lease over the marina has a 30-year term and expires on June 30, 2044, which Mr Murphy said could be renewed for a “small fee”.

He said the owners wanted to sell to someone who was going to continue the operation.

Offers of more than $1m will be considered.

Originally published as Townsville business the Pier Restaurant on Breakwater Marina is for sale