Straddie’s Fishes restaurant and gelati ice-cream parlour fetch multimillion-dollar price tag as Point Lookout undergoes massive change
Straddie’s culinary scene will undergo a major change after two high-profile businesses sold in the last month, fetching top-dollar figures. SEE THE FLASHBACK PHOTOS
Redlands Coast
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One of the state’s best whale-watching vantage points is undergoing a major transformation ahead of this year’s season, after multimillion-dollar sales of two long-term businesses.
Point Lookout’s Fishes Restaurant and Oceanic Gelati and Coffee Bar were both sold in the past month with vendors fetching more than $3.5 million.
Both businesses were established more than 17 years ago on the popular Straddie tourist strip, which overlooks the Gorge Walks and Redland City Council’s new $5.35 million boardwalk, which opened last month.
Island businessman Pradeek Brar, who also owns the Loaves bakery next door to Fishes at Point Lookout and the bakery at Dunwich, snapped up the popular restaurant Fishes late last month.
The restaurant will continue to trade at the famous Point Lookout site.
Fishes former owner Colin Battersby, who started the business with his father and brother in 2006, said the changes would give the island a “new flavour”.
Mr Battersby, who will retain his role as the Island Chamber of Commerce president, will focus his time on his Straddie holiday rentals and real estate business Discover Stradbroke.
“My family has loved owning Fishes but it was a labour of love,” he said.
“We saw out the global financial crisis, bushfires and, of course, the Covid mandates.
“It is a time of change on the island and the closure of the gelati shop and the restaurant is part of that change.”
Mr Battersby said his mind was made up to sell after he received his latest AGL electricity bill which included a 32 per cent price hike jacking up his overall annual payments by $20,000 a year to $80,000.
That rise coincided with interest rates rises on his mortgage along with a 5.75 per cent increase in his wages bill for staff, adding an extra $60,000 a year to his outgoings.
The Gelati shop, known for its unique island flavours including iced vovo, coffee almond, rosewater meringue and rich chocolate, closed for good on the weekend.
Owners Jennifer and John Truman sold the two-storey property which fronts Mooloomba Rd, next door to Fishes Restaurant, at auction in May, fetching more than $3.5 million.
Mrs Truman’s parents Tom and Laurel Reik, long-time island residents, had owned the land.
The shop was built at the front of the block with the family home moved towards the back of the block more than 20 years ago.
The popular gelati shop, which was not sold as a going concern, helped nickname the cliff area “Ice cream Hill”.
The culinary strip is expected to cater for more tourists this whale watching season after the opening of the new Frenchman’s Beach cliff section of the boardwalk, which links to the existing Gorge boardwalks.
The gelati cafe’s closure prompted residents and tourists to reminisce about the friendly service and the colourful floral uniforms from the “Gelati Queen, princesses and the beautiful Scooping Angels”.
The shop was so popular, even wedding groups often stopped in for a quick double scoop before heading on to reception parties.
In a parting note to fans, Ms Truman thanked staff including her “main girl” Claire Milliken who was with the shop since it opened and husband John.
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