The newly opened Butchers Buffet in Chinatown is the largest Korean barbecue restaurant in Sydney, but there’s still a 30-minute wait to score a table.

The all-you-can-eat extravaganza increased its dining capacity to over 200 people at 60 individual barbecue stations when it relocated from Dixon Street to a sprawling 500 square metre space on Sussex Street in late July.

Butchers Buffet owner James Sun says the move was necessary to cope with high demand and cut down on wait times which had risen to over an hour and a half).

It’s a rare success story during an exceptionally challenging period for the Australian hospitality industry, where rising costs and reduced spending are predicted to shutter one in 13 businesses over the next 12 months.

Chinese restaurants across Sydney have already been hit hard, with nearly 50 closures since February 2023, according to the president of the Chinese Precinct Chamber of Commerce, Wayne Tseng.

But Butchers Buffet isn’t the only hospitality venue in Chinatown with long queues of customers. Foot traffic is up; fast, fun and affordable food is in demand; and a new generation of business owners are tapping in, opening more than 10 new restaurants and cafes over the past year.

“The strength of Chinatown lies in its culture and tradition, and we need to nurture and celebrate that, but growth and evolution is important from a business perspective,” says Kevin Cheng, co-founder of not-for-profit community group Soul of Chinatown and manager at the Haymarket Alliance.

Cheng says, while traditional banquets and yum cha will always hold an important place, cost-conscious diners are gravitating towards innovative and “bang for your buck” alternatives during the cost of living crisis.

That’s the appeal of the Butchers Buffet, says owner Sun. It’s a transparent business model: customers pay a set price (from $36.99 per person for 90 minutes at lunchtime), for access to a buffet of raw Korean barbecue meats (thinly sliced, occasionally marinated, including premium cuts like Wagyu and Angus beef), vegetables and side dishes, to cook on barbecue grills installed at each table.

“It isn’t the lowest price point, but you definitely get your money’s worth,” he says.

“Chinatown is back, with a lot of cool new concepts in a really concentrated area”

Visit Haymarket project manager Jacqui Stanton.

Kolture hospitality group founder David Bae chose to open the Korean Beom Beom (pronounced Bohm Bohm), the most casual restaurant in his six-venue portfolio, in Haymarket in late July.

He says it was a no-brainer: “It’s a booming hub, it’s like everyone young and hip wants to congregate there.”

Alongside casual Korean cuisine, skewers (both sweet and savoury), and desserts from across the Asian continent are proving most popular, says Visit Haymarket project manager Jacqui Stanton.

“Chinatown is back, with a lot of cool new concepts in a really concentrated area,” Stanton says, noting over 100 food and beverage outlets are now operating within Haymarket.

While Dixon Street remains the historic heart of Chinatown, the influx of openings extends the dining precinct from Market City up to Thai Town on Liverpool Street, and diversify the offering to more than 17 cuisines.

Newcomers such as Kaiji Kakijori (a Japanese dessert bar specialising in flavoured shaved ice), Whiskers Gelato (Chinese tea gelato) and Super Emoji (a DIY dessert and boba tea shop) are “popping off”, Stanton says.

Kaiji Kakigori co-owner Miho Wakatsuki says they wanted to offer Sydneysiders something they’d never experienced before: a premium kakigori using Kuramoto block ice from Japan and house-made syrups. The reception has been “overwhelming”, with packed crowds at opening time.

At Cam On, a new Vietnamese restaurant in Market City, the “world’s largest pho” (four litres of broth capable of feeding eight people) often sells out.

Growth is set to continue with the City of Sydney’s multi-million dollar plan to visibly renew Dixon Street. Applications opened last week for a $1.2 million, three-year grant program offering to match restaurants dollar-for-dollar to renovate and create a “food theatre”, allowing pedestrians glimpses of food preparation.

There are also major developments in the works, from the Dixon House redevelopment with a three-floor food court, to the makeover of Paddy’s Markets with 47 food outlets.

“It’s a really exciting time for Chinatown. I want to see: what’s going to be the Chinatown story of this generation?” Cheng says.

Five new venues to try

Butchers Buffet

What: A massive all-you-can-eat Korean barbecue offering 90 minutes to gorge on thinly sliced premium cuts of meat, salads, side dishes and desserts, from $36.99 per adult for lunch and $46.99 for dinner. Bookings are now available.

Good to know: Don’t let your plate become bigger than your stomach - food wastage is charged at $15 per person.

Shop 8, 363 Sussex Street, Haymarket, butchersbuffet.com.au

Beom Beom

What: A Korean “soul food” restaurant with a cyberpunk aesthetic, a K-pop soundtrack and a soju-heavy cocktail list, serving dishes like gochujang baby back ribs, cheese fire ‘buldak’ chicken and “KFC”-style Korean fried chicken.

Good to know: It’s an affordable alternative to executive chef Jacob Lee’s other restaurants, such as the Korean omakase Matkim.

70 Tumbalong Boulevard, Haymarket, beombeom.com.au

Kakigori Kaiji

What: Sydney’s first Japanese-style kakigori shop, serving the traditional dessert made from finely shaved melt-resistant ice imported from Japan, and flavoured with house-made syrups like strawberry, matcha, and honey-soaked lemon.

Good to know: Beat the crowds by visiting around dinner time when it typically quietens down.

394 Sussex Street. Haymarket, kakigorikaiji.com.au

Cam On

What: A family-owned Vietnamese restaurant from Carlingford makes its Chinatown debut with Sydney’s largest bowl of pho: a whopping four litres of broth, two kilograms of rice noodles, and 1.5 kilograms of sliced wagyu beef. It feeds a “hungry” family of between four and eight people for $148.80.

Good to know: The broth is made using a Vietnamese family recipe, passed down from owner-chef William Le’s father. But make sure to arrive early — it often sells out.

Market City Shopping Centre, 9, Shop R3.10/13 Hay St, Haymarket, phomumumgroup.com.au

Kuki

What: A small, stylish hole-in-the-wall serving warm house-made cookies with soft serve ice cream until 11pm on Friday and Saturday nights (10pm the rest of the week). Cookies come in flavours like taro mochi, and brown butter chocolate chip, and there’s soft serve flavours like earl grey and Japanese cheesecake.

Good to know: Kuki is the second venture from team behind one of Sydney’s best ice creameries, Duo Duo in Strathfield.

9/18 Steam Mill Lane, Haymarket, kuki.au