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

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

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

The Golden Ox, Redcliffe’s beloved family restaurant and wedding venue, has abruptly closed its doors after nearly 46 years of service, leaving the local community devastated. The closure was prompted by the untimely death of one of its owners, marking the end of an era for the popular establishment.

Long regarded as one of South East Queensland’s premier dining spots and wedding destinations, The Golden Ox announced the heartbreaking news via its social media channels. 

“Unfortunately, due to unforeseen circumstances, we have had to shut our doors for now. Stay tuned, and hopefully, we will be back again soon!” the post read.

The Golden Ox
Photo Credit: The Golden Ox/Facebook

The passing of the owner has left the restaurant in limbo, with weddings and functions that were booked now facing uncertain futures. The venue expressed their sincerest apologies and pledged to reach out to all those who had booked events to discuss their situations personally.

For over four decades, The Golden Ox at Margate had been under the dedicated management of Nick Tzimas and his family. However, last year, they made the decision to put the restaurant up for sale, which eventually led to its sale before Christmas. 

Following the sale, Mr. Tzimas retired from the business. Unfortunately, attempts to reach him for comment were unsuccessful at the time of publication.

The closure of the Golden Ox represents the end of a long-standing chapter in Redcliffe’s dining and social scene. The restaurant has held a special place in the hearts of locals and visitors alike, becoming an iconic establishment in the area.

The news of the restaurant’s closure sparked an outpouring of sadness and fond memories from the community. 

“Very sad news for new owners family,” a local said. “As long as everyone with wedding booked is issued with a full refund there wont be any issues.”

While The Golden Ox’s future remains uncertain, there is hope among patrons that the beloved establishment will one day reopen its doors. For now, the community mourns the loss of a cherished gathering spot and sends their condolences to the family of the deceased owner.

Published 19-July-2023