North Adelaide-based Mexican restaurant Zapata’s listed for sale
Adelaide’s oldest Mexican restaurant, Zapata’s, has been listed for sale with the landmark site to be auctioned next month.
It’s the end of an era for Adelaide’s oldest and best-loved Mexican restaurant with Zapata’s set to close its doors after more than 40 years in business.
The award-winning restaurant at 42 Melbourne St, North Adelaide has been listed for sale for an undisclosed price, with the multifaceted building to be sold at auction next month.
The sale includes the landmark restaurant, which has been operating at the site since 1975, including a commercial kitchen and seating for up to 120 people.
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Zapata’s at 42 Melbourne Street, North Adelaide has been listed for sale. Pic: realestate.com.au
Zapata’s at 42 Melbourne Street, North Adelaide has been listed for sale. Pic: realestate.com.au
Zapata’s at 42 Melbourne Street, North Adelaide has been listed for sale. Pic: realestate.com.au
Zapata’s at 42 Melbourne Street, North Adelaide has been listed for sale. Pic: realestate.com.au
A three-bedroom residence is also located at the rear and could be operated as an Airbnb.
Selling agent Anthony Clemente, of LJ Hooker Commercial Adelaide, said the decision to sell had been made with a heavy heart.
He said the owners, who did not wish to comment publicly on the sale, had expressed hope for the property to continue as a Mexican restaurant and would announce an official closure date after the sale.
“The property is owner-occupied currently but when they sell, will give up possession for, hopefully, another Mexican restaurant to fill their shoes,” Mr Clemente said.
“They’ve been operating there for over 40 years and even before that, it was operating as a Mexican restaurant.
“They say things happen in three, so hopefully a buyer will come forward to continue the legacy (of the site).”
A three-bedroom home is also included in the sale. Pic: realestate.com.au
A three-bedroom home is also included in the sale. Pic: realestate.com.au
A three-bedroom home is also included in the sale. Pic: realestate.com.au
While a business takeover is preferred, Mr Clemente said the site’s prime location on Melbourne St had made it an attractive offering for developers.
“The property has piqued a lot of people’s interest, in part because they recognise the name Zapata’s, but also because of the size of the site there,” he said.
“It offers really good redevelopment opportunities, so someone may come through and knock it all down to put something brand new up.
“We’ve already had a mix of inquiries form a couple of developers looking for an investment, so we’ll wait and see what happens on auction day.”
Commercial properties along Melbourne St are tightly held, according to CoreLogic, with just 15 dwellings selling along the popular business strip over the past 12 months.
The top sale over the past year was a former medical centre at 220 Melbourne S, which settled for $2.907m last month.
The property will be auctioned on site, on June 9, at noon.
