MasterChef judge Josh Niland bids but misses out on buying Rose Bay home of his fish restaurant

MasterChef guest judge Josh Niland was there bidding at the midweek auction of his famous Rose Bay fish restaurant, but it was someone else who got the catch of the day.

Matt Pontey of Colliers and Grant Whiteman of Ray White Commercial Eastern Suburbs had five registered with three competing for the building that houses Charcoal Fish at 670 New South Head Rd.

They’d originally had a $1.25m price guide, which they lifted to $1.35m because of strong interest.

In his introduction, auctioneer James Keenan gave Niland’s restaurant — which provides high-quality eat-in/takeaway seafood options — a plug, revealing he’d had lunch there on Saturday between auctions. “A wonderful tenant!” he told the crowd.

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Seafood guru Josh Niland shows contestants how to use all of a 4kg Murray cod to create an entre, main and desert on this year’s MasterChef. Picture: Channel 10

Charcoal Fish is at 670 New South Head Rd, Rose Bay.

Niland, who was a special guest judge on Channel 10’s MasterChef this year, is considered a fish legend, with more than 250,000 followers on Instagram.

He and wife Julie also run the award-winning fine-dining restaurant Saint Peter and takeaway store Fish Butchery in Paddington.

But there they were, masked up, with Julie nursing their baby, in the second row at the auction in the Ray White rooms on Wednesday night.

Pontey had the opening bidder on the phone, who offered $1.2m.

Niland came in next at $1.3m.

Pontey’s phone bidder quickly came back with $1.35m; Niland responded with $1.36m; Pontey said $1.38m and Niland $1.39m.

The 79sqm strata shop comes with a five-year lease, started in April, with Charcoal Fish.

There were five registered parties and 150 inquiries for the property.

After the phone bidder’s $1.4m, Keenan looked at Niland who shook his head indicating he was now out of contention.

A new bidder at the back of the room offered $1.45m; the phone bidder replied with $1.48m, and the new bidder’s $1.5m sealed the deal for him.

As Keenan slammed down the gavel, the Nilands’ heads swung round to smile at their new landlord. And then they were gone.

The 79sqm strata shop comes with a five-year lease, started in April, in place with Charcoal Fish.

The five-year agreement with Josh and Julie Niland being the tenants made the investment appealing.

The net rental income is $58,300, with an annual 3 per cent fixed increase in place.

Pontey said the “bite-sized” investment had attracted 150 inquiries during the campaign, appealing to mum and dad investors chasing yield.

“That was driven by the exceptional covenant, with Josh and Julie being the tenants with their strong following,” he added.