Iconic Olinda Cuckoo restaurant back on market after mortgage default

Liquidators have listed one of Melbourne’s most iconic restaurants — which once served up hearty dishes to The Rolling Stones and Beatle George Harrison — four years after the final stein was poured.

The Cuckoo restaurant in Olinda has been listed for a mortgagee sale under the instructions of Loebenstein Insolvency. Picture: Supplied.

Liquidators have listed one of Melbourne’s most iconic restaurants — which once served up hearty dishes to The Rolling Stones and Beatle George Harrison — four years after the final stein was poured.

The Cuckoo restaurant in Olinda has been listed for a mortgagee sale under the instructions of Loebenstein Insolvency with the listing boasting a vacant possession with a full hospitality set up ready for the next owners.

The Cuckoo restaurant operated for more than 60 years. Picture: Supplied.

The beloved Melbourne institution closed in 2021 after Covid hit the state’s tourism industry, ending 62 years of trading.

Renowned for its Swiss chalet-style architecture and Bavarian-themed interior, the Mt Dandenong Tourist Rd venue boasts a three-storey venue complete with a deck, courtyard, offices, function spaces, a stage, a commercial kitchen as well as extensive smorgasbord and carvery facilities.

This listing also includes more than 400 carparking spaces and a caretaker’s cottage, making it ideal for large scale events.

Locals are desperate for the major tourist drawcard to reopen. Picture: Steve Tanner

The eatery was bought by Eric Walters in 2022, who had planned renovations for the venue.

It was relisted for $4.2m last year, only to land back on the market under the instructions of liquidators.

Olinda locals have called for a rescue buyer to swoop in to save the major tourist drawcard.

The iconic venue had welcomed more than seven million tourists since Karin and Willi Koeppen opened the restaurant in 1958.

Famous guests included former prime minister Bob Hawke, The Rolling Stones and Beatle George Harrison.

The site is also linked to one of Melbourne’s biggest mysteries — this disappearance of Australia’s first celebrity chef Willi Koeppen.

Willi Koeppen went missing in 1976. Picture: Supplied.

He disappeared in 1976 and the case remains an open investigation with the Victoria Police Missing Persons division.

Expressions of interest for The Cuckoo close on May 22.