Paul Stokell: Tasmanian motorsports legend buys site of Mt Elephant Pancake Barn
A Tasmanian motorsports legend has purchased a shuttered East Coast tourism icon, swayed by the “emotional” bond he feels with it from his childhood. He’s now looking for the perfect partner.
East Coast
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The purchase of an East Coast tourism icon that shut its doors for good at the end of 2021 by Tasmanian-born racing legend Paul Stokell may herald the greatest comeback of his glittering career.
Mr Stokell, who has lived in Brisbane for the past decade, where he operates a successful business, Paul Stokell’s Driving Events, revealed he had purchased 824a Elephant Pass Rd, Grey – the site of beloved eatery Mount Elephant Pancake Barn.
The business closed its doors on December 31, 2021, after more than 40 years in operation at its home near St Marys.
Stokell said that the pancake parlour was “one of those places that stuck in my mind over the years”.
“As a young kid travelling up the East Coast [Stokell grew up in Bellerive], the pancake parlour was always a fairly enjoyable experience,” he said.
“Under probably the previous owners before the ones I bought from, it was a motorbike haven. As a kid growing up it was pretty cool to see. It was something I always noticed.”
Stokell said that the property first came on his radar in 2021, when he was leading a tour to coincide with Targa, and he was able to seal the freehold title in the latter half of last year.
He said he is looking to work with new tenants to return the site to its former glory – the annual asking price for the leasehold is $30,000.
The 2.8ha property includes the restaurant, a fully equipped kitchen, a two-bedroom cottage adjacent to the restaurant and, further afield on the block, a three-bedroom house with a “large rumpus area”.
“I’ll probably turn that into a rental or Airbnb. There’s the potential to put some more development down the back, like glamping, in the future,” Stokell said.
He said that the property was “waiting for someone to come in and say, we can do this. I’ll work with them to increase the value of the site, which they can run as a going concern.”
“The restaurant doesn’t necessarily have to stay as pancake parlour, but whoever took it on would be pretty brave to do anything else,” Stokell said.
Via the business’ diverted phone, he still receives “a couple of calls each week inquiring about pancakes”.
He said his purchase had a strong “emotional aspect” to it.
“I love the state and the East Coast in particular. If this is made a viable proposition, in the future I would like to be more involved in it,” he said.
“This sparked something in me. I would like to live back in Tassie, whether that’s full-time or just in summer.”
The leasehold title is currently being advertised by Harcourts St Helens.
Stokell is one of Tasmania’s most decorated race car drivers, winning nine national, two international and four state championships throughout his stellar career.
In 2019, he claimed podium gold in Targa Tasmania and the Australian Targa Championship, while he also won last year’s Fanatec GT World Challenge AM Championship.
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