Hellenkia Nobby Beach: Gloftis family set to auction restaurant building on Gold Coast Hwy at Nobby Beach

The site of a Gold Coast dining institution and acclaimed restaurant will go under the hammer. This is how you can buy into it.

Colliers director Steven King in front of Hellenika Gold Coast. Photo: Supplied

THE Nobby Beach location of Gold Coast dining institution and acclaimed restaurant Hellenika will go under the hammer next month.

The 2235 Gold Coast Highway property has been owned since 2009 by Krys (Qld) Pty Ltd, linked to James and Krystina Gloftis, who are the parents of Hellenika owner Simon Gloftis.

They paid $1.8 million in 2009 for the building, which last year underwent substantial renovations to include a rooftop dining area at the new Hellenika.

The property is being sold with a seven-year lease in place plus two five-year options starting next month.

Hellenika owner Simon Gloftis at the rooftop bar. Picture: NIGEL HALLETT

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Colliers International’s Steven King, who is marketing the property, said he is picking a Gold Coast buyer to pick up the asset at auction.

“This is a secure long-term lease investment in a great location, with conservative rental in place backed by a strong operator. It is a great opportunity considering these sorts of assets are very tightly held and don’t come to market very often.

“Even though it is likely to get national attention, realistically the buyer is likely to be a local passive investor who loves the area and understands the strength of the Hellenika’s brand and business.”

Colliers director Steven King in front of Hellenika. Photo: Supplied

It offers the owner $299,400 plus GST in annual net income.

Simon Gloftis first launched plans to double the size of Hellenika at Nobby Beach in 2016 after selling his other eatery The Fish House to Brisbane developer Ron Tarabay in 2016 in a deal mooted to be worth close to $2 million.

The refurbishment, which featured a retractable roof and private dining room, was completed last year.

Mr Gloftis’ Fortitude Valley eatery Hellenika at The Calile was recently crowned Restaurant of the Year at The Courier-Mail Food Awards.

Mr Gloftis, who sold his iconic Burleigh Fish House in 2016, has also announced he will exit trendy high-rise restaurant Nineteen at The Star.

Nineteen at The Star

“The decision was not made lightly, however, it had become pretty obvious to me that my own venues — and future projects — required my full attention, focus and energy,” he said at the time.

“The Star have been incredibly understanding of my desire to concentrate on that path and I thank them for supporting me.”

An auction for the Hellenika building will be held at 11am on October 23 at the Colliers office at Surfers Paradise.