Yamba’s waterfront icon goes under the hammer

Site of the former Big Oyster restaurant has been sold at auction with some fast and furious bidding on the property

The old Gormans restaurant, also known as the Big Oyster, has sold at auction for more than $2 million.

THE former site of Gorman's Big Oyster restaurant in Yamba has sold at auction, with the property going under the hammer for $2,005,000 on Saturday.

Lot 186 Harbour St Yamba as it is known, attracted 18 registered bidders vying for the one of a kind opportunity offered for sale for the first time in its history.

Ray White Yamba selling agent Daniel Kelly said the interest in the property exceeded all expectations.

"It was only in the last week of the campaign that registrations started to flow in, but we had figured there would be keen interest in the auction given its location and the opportunities it presents," he said.

"We had a reasonable crowd in attendance because it's one of those sites that has broad community interest given its history."

"The Big Oyster" seafood restaurant has sold after it was put up for auction for the first time in the site’s history.

The former site of The Big Oyster restaurant sits on Clarence River views in two directions, and was at the forefront of Yamba's dining scene in the 1980s.

Now with the site finally sold, it could once again return to its halcyon days with the new owner indicating a willingness to invest in developing another hospitality venue on the property.

Mr Kelly declined to reveal who the successful purchaser was, but did confirm it was an out-of-town buyer with an extensive history and experience in the hospitality industry.

"It's most impressive that someone with that kind of experience is seeing potential in Yamba," Mr Kelly said.

"It's looking likely it will become another venue of some kind which would be great to see, and I think that's what most of the community is hoping for.

"Yamba is becoming more well known these days and that's evident with this purchase, and it could lead to more investment in the future."

Mr Kelly said he expected the new owner "won't muck around" and there could be work started on the site as soon as the sale is settled.

"It was a great day overall and it's not very often you get the chance to represent not just one client but the community as a whole," Mr Kelly said.

"This result will effectively put money in the coffers of a community that needs it and that's a great thing."

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