Iconic Sydney eatery Golden Century has $60m price tag
Sydney’s iconic Golden Century restaurant, that has hosted some of the best known chefs in the world and some of Australia’s biggest names, has hit the market with price hopes of around $60m.
The much-loved Chinese eatery was forced to close its doors last year after being struck down by a lack of business due to the Covid health restrictions that hurt many other CBD business.
After much to-ing and fro-ing between liquidators and creditors – including the auction of the restaurant’s ‘extensive wine collection’ the site has now been listed for sale.
The four-storey 393-399 Sussex Street property in Sydney’s Chinatown/Haymarket area has been brought to market by Savills and JLL, The Australian reports.
Prime Minister Scott Morrison poses for photographs with supporters as he visits the Golden Century Seafood Restaurant, during the 2019 election campaign . (Photo by Tracey Nearmy/Getty Images)
The property is expected to be keely sought after.
Investment in Haymarket has recently hit a five year high, to defy Covid doomsday predictions of a collapse of the CBD real estate market.
According to research from Colliers, the popular Sydney district, long known as the home of Chinatown and Paddy’s Markets, achieved a record level of investment in 2021 despite the pandemic.
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One of the main drivers behind the rise in activity is demand from Asian-based capital looking for strong investment opportunities.
Savills co-head of local Asia Markets Jordan Lee said Golden Century’s reputation could help aid its sale.
Fresh lobster at Golden Century Restaurant, Chinatown, Sydney. Picture: Destination NSW
“Premium retail offerings along this section of Sussex Street are rarely offered to the market and its location is second to none,” he said.
“The property greatly benefits from the bustling activities in the nearby retail precinct.”
The much talked about Tech Central precinct, aka Central Place Sydney, Australia’s answer to Silicon Valley, is another factor that has boosted interest in the area.
It is expected the 708 sqm former site of Golden Century will be redeveloped with retail, office and accommodation possibilities.
Anthony Bourdain dines at Golden Century with Porteño owners Elvis and Matt. Picture: Supplied
World famous chef Ferran Adria, owner of elBulli restaurant in Spain’s Costa Brava, dining on a giant king crab at the Golden Century Chinese seafood restaurant in Sydney.
Former Golden Century owner Billy Wong was not able to come to terms on a new lease on the site, however his culinary legacy continues nearby at XOPP.
During its celebrated 31 years in business, Golden Century welcomed some of the world’s biggest names in food including Anthony Bourdain, Heston Blumenthal, Alain Ducasse, Ferran Adria and Jamie Oliver.
Former Golden Century owner Billy Wong at his new restaurant XOPP. Picture: Brett Costello
The famous late night haunt has also played host to a number of sports and entertainment stars and political types including the likes of Wendell Sailor, Gorden Tallis, Russell Crowe and Prime Minister Scott Morrison.
Prime Minister Scott Morrison leaves a Chinese community event at the Golden Century Seafood Restaurant in Chinatown Sydney, Wednesday, May 15, 2019. (AAP Image/Mick Tsikas) NO ARCHIVING
It was also the venue for the now-infamous dinner between former NRL star Corey Norman, and current Parramatta prop Junior Paulo which was attended by former Nomads bikie Paul Younan, as well as Rafat Alameddine, the brother of terror-accused Talal Alameddine. Rafat, 25, was out on bail having been charged with fraud offences.
A shot uploaded to Junior Paulo’s Instagram account from the night out. Picture: Supplied
A video has emerged of Beau Ryan dining at Golden Century with Jihad and Rachad Alameddine – two of the Alameddines who also dined at the same restaurant with Corey Norman, Junior Paulo and James Segeyaro. The dinner happened just hours before Norman was allegedly found in possession of several capsules by casino security.
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