Former home of iconic Surfers Paradise venue Bavarian Steak House placed on market
Gold Coast tourism industry veterans the Smith family appoint Colliers to sell landmark corner holding.
The former long-time home of iconic Surfers Paradise venue Bavarian Steak House has been placed on the market, presenting a rare opportunity to secure a generational corner site in the heart of Australia’s premier lifestyle and tourism destination.
Colliers has been appointed to manage a national expressions‑of‑interest campaign for the landmark holding on the corner of Cavill Avenue and Surfers Paradise Boulevard.
The property formerly housed the, Bavarian Steak House a three‑level German beer hall and function centre that had operated on the site for more than 50 years before closing in 2023.
The property, which sits on a prime 1,638sqm site, is being offered for sale by the Smith family which first opened the venue in 1975.
Colliers Gold Coast Director-in-Charge Steven King, who has been appointed to undertake the expressions-of-interest campaign, said the offering is among the most significant CBD landholdings brought to market in Surfers Paradise in recent years.
“Whether as a blue-chip investment, a value-add repositioning opportunity or a future redevelopment play, this is asset represents a prime opportunity in the Gold Coast’s most prized retail markets,” said Mr King.
“The combination of scale, zoning flexibility and location makes the property uniquely positioned for long-term value creation.”
The site comprises three adjoining freehold titles and boasts 91 metres of premium dual street frontage, directly adjacent to the Cavill Avenue G:link station.
The property is anchored by established operators including Adidas Originals, Australian Venue Co (Finn McCools) and Play Zone, delivering strong existing holding income with significant rental reversion and income growth potential.
The site also sits within an unrestricted height precinct under high‑density Centre zoning, providing exceptional flexibility for future uses, subject to council approvals.
A DBI Architects concept scheme completed in 2022 outlines the potential for a 46‑level mixed‑use tower, supported by existing demolition clauses that enable future redevelopment.
“The ability to secure long-term tenant commitments, unlock significant rental upside and ultimately deliver a landmark project makes it a compelling proposition for investors and developers alike. The existing lease profile has been constrained by demolition clauses that have limited tenant certainty and, in turn, rental growth. Providing long-term occupancy security presents a clear opportunity to achieve materially higher market rents and enhance the asset's income performance,” Mr King Said.
“The ability to secure long-term tenant commitments, unlock rental uplift and ultimately deliver a landmark project makes it a compelling proposition for investors and developers alike.”
The latest Colliers research reveals that Gold Coast commercial property investment remained strong through 2025, with momentum carrying into 2026.
The research shows that retail assets in high‑density coastal precincts, particularly Surfers Paradise, are benefiting from strong population growth, high visitation and tightening supply due to construction costs and limited new stock.
Surfers Paradise attracts more than 14 million visitors a year making it one of the highest‑footfall retail and tourism zones in Australia.
The precinct is also about to benefit from a $100 million investment by the City of Gold Coast which is earmarked to begin next year to deliver upgrades to Cavill Avenue and Cavill Mall, with new public spaces, shade, trees and seating as part of a world‑class boulevard vision for the Gold Coast’s key tourism precinct.