Margate’s Golden Ox Fetches $2.2-M at Auction After Abrupt July Closure

Golden Ox
Photo credit: The Golden Ox/Facebook

The Golden Ox, a beloved wedding and function venue in Margate, was sold at auction for $2.2 million last month after its sudden closure in July.

Read: Tragedy Strikes Redcliffe’s Iconic Golden Ox Restaurant as Owner Passes Away, Forcing Closure

The 1,831 sqm freehold property on the corner of McCulloch Ave and Bank St was put up for auction on October 26 by Colliers. With a direct frontage to Oxley Ave, the 663 sqm building contained a restaurant, bar, and divisible function facilities connected to an outdoor garden frequently used for weddings.

The venue had been in operation for over 40 years under the management of Nick Tzimas and his family before it was put up for sale last year.

Photo credit: Colliers

According to the property agent, the successful sale at auction signifies hope for the reopening of this community staple. The Golden Ox has serviced the Redcliffe Peninsula for decades as a popular dining and celebration destination, and they believe this sale will pave the way for its revival under new ownership.

Photo credit: Colliers

The previous owners prior to the auction this October promised to honour existing bookings.

Golden Ox
Photo credit: Colliers

Located at 33 Oxley Ave, The Golden Ox venue also had an approved gaming licence for up to 45 machines. With a commercial licence for trading hours from 10:100 a.m. to midnight daily, the agent remarked on its continual popularity as a “licensed dining, wedding and function centre” in the area.

“The structure of the building, favourable District Centre Precinct zoning and high profile street location may lead a new owner to pursue other uses for the property beyond its current function as a licensed venue (STCA),” the listing reads.

Read: Suttons Beach Pavilion to Get a New Look with National Architectural Design Competition

Whilst the future of this Margate icon remains unknown, many hope its long legacy as a community gathering place will endure under new management. For now, its loyal patrons will have to rely on memories of good times past.

Published 10-November-2023