Opa Greek Cuzina closes: Victoria Point rent rises hit hard

A popular Greek restaurant is the latest unexpected closure at a bayside shopping and entertainment precinct, where more than six businesses have moved from in the past 18 months.

Opa Greek Cuzina has closed at Victoria Point after claims of rising costs including rent. Picture: Contributed

The shock closure of a popular Greek restaurant in a busy bayside shopping precinct has thrown the spotlight on rising rents in the area.

Opa Greek Cuzina served up its last dish of souvlaki and moussaka in July, the latest in a string of eateries closing their doors at the Victoria Point hub, which includes the Victoria Point Lakeside Shopping Centre.

Since 2023, there have been more than six restaurants and businesses close their doors at the centre, owned by developer Fox and Bell, which also owns the nearby Redland Bay Village.

Both centres are managed by All Commercial Properties Queensland.

Owners of Opa could not be contacted but stunned former casual staff said they received emails notifying them of the closure and citing the lack of trade and turnover.

Head chef at the popular Opa Greek Cuzina Bassel Thabet. Picture: Facebook

The restaurant’s demise follows the closure of the Burrito Bar franchise at Victoria Point in February and that of the popular Oscar Bar and Eats in June.

Last year, the rents came under scrutiny when long-time tenant Uncle Bob’s Bakery closed at Redland Bay after 22 years when the landlord refused to budge after rent hikes of 45 per cent since Covid.

The bakery, owned by Brett Noy, closed its sister shop at Victoria Point in 2021, citing failure to strike a deal with management over the “soaring” rents.

Other retailers and businesses at Redland Bay Village reported signing new contracts for rent increases in line with the most recent annual rise in the CPI of 3.8 per cent to the end of June.

Former Victoria Point and Redland Bay baker with Uncle Bob’s Bakery Brett Noy. Picture: Contributed

Other outlets to move out of the centre included Indique, Sushi Point, Hog’s Breath, a gym and a yoga lounge.

Claims that one retailer was forced to move because rents had tripled from $7000 a month to $21,000 a month at the centre were denied by All Commercial Properties manager Linda McLean.

Victoria Point Lakeside complex, where there are three main tenancy vacancies. Picture: Lakeside Victoria Point

“The policy of management and the lessors of Victoria Point Lakeside Shopping Centre is not to discuss private business matters in the public forum, and we believe it would be grossly inappropriate to comment specifically on the closure of Opa,” Ms McLean said.

“No tenant has had any such (tripling) increase of rent unless, of course, they have tripled their lettable area.”

Auto Parts Victoria Point, one of the first outlets to open at the centre in January 1999, moved into smaller premises to save on rent.

Owner John Kiely said he swapped premises with the next door St Vinnie’s Op Shop.

“Times are definitely tough and rents are a big part of our outgoings – so we downsized but stayed in the same area because it’s a great centre,” he said.

Originally published as Opa Greek Cuzina closes: Victoria Point rent rises hit hard