Jimmy’s on the Mall set to become Mt Coot-tha Summit Restaurant’s new operator

A Queen St Mall favourite is set to reach the pinnacle of Brisbane’s dining scene, taking on a restaurant with the city’s best views. SEE WHO ELSE BID FOR THE EXCLUSIVE RIGHTS

JIMMY’S on the Mall is set to extend its reach to the very top of Brisbane, with councillors asked to select it as the new operator of Mt Coot-tha’s Summit Restaurant.

The 25-year leases over the restaurant and adjacent Kuta Cafe expired in August but the current managers are “holding over’’ the lease until next February.

Council was due to vote at its Tuesday meeting to accept a recommendation from the Stores Board that Jimmy’s will take on the two leases for the next 20 years.

However, all councillors declared a conflict of interest as the business had previously donated to both Labor and the LNP. The Council CEO will now make a delegated decision.

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Jimmy’s, which has run its high-profile restaurant in the Queen St Mall for many years, would have to pay $600,000 a year rent on Kuta Cafe and another $400,000 to lease the restaurant, or seven per cent of annual turnover.

The rent would be reviewed annually, and increased in line with inflation.

It’s offer was vastly more generous than those of the other four conforming bids, which included one from Oxford St, Bulimba cafe operator Bellissimo Coffee.

The Stores board calculated Jimmy’s bid at 96.5 per cent value for money (VFM).

Bellissimo’s bid — paying Council a base rent of $104,000 a year for the cafe and $78,000 for the restaurant, plus four per cent of turnover if annual sales exceeded $1.5 million, was rated only a 60-67 per cent VFM.

Jimmy's on the Mall in Queen St. A Council report recommends the company be awarded a 20-year lease for the Mt Coot-tha restaurant and cafe. Picture: Mark Cranitch

It would pay six per cent, or eight per cent, of turnover if annual sales were above $1.75 million or $2 million, respectively.

Table of Four, at Everton Park (67-70 per cent VFM), Queensland Catering in Beenleigh (26 per cent VFM) and businessman James Heron (60 per cent VFM) were the other conforming bidders.

Two tenderers, Intabread Pty Ltd and Tenterfield Viet-Thai Restaurant, were rejected as they did not meet the minimum lease requirements, which include accessibility for customers and minimum trading hours.

“(Jimmy’s) provided a clear vision statement that was considerate of the iconic nature of the site, including proposed marketing initiatives and menu,’’ the council Establishment and Co-ordination Committee report said.

“It demonstrated proven success and experience in the delivery and operation of similar high-volume restaurant, cafe and function venues.

“It proposed innovation including new build and design for the cafe, at no cost to Council.’’

The report said Bellissimo’s tender offered a less competitive rent and only a refurbishment.