THE iconic Marsden Tavern in the heart of Yeppoon will go to auction on the Gold Coast next week.
The 984sq m land parcel, located on the corner of James and Hill Streets, houses a tavern, bar, outdoor beer garden, function room, bistro and kitchen and has an attached drive-through Celebrations liquor store.
The high-profile site has been listed for auction with Ray White Hotels and Leisure on April 3.
Brad Lipp, manager of Ray White Hotels and Leisure, is marketing the property on behalf of the owner Valoba Holdings Pty Ltd.
According to Mr Lipp, the current owners developed the tavern in 1995, and have since leased the site to various tavern operators.
The vendor assumed ownership of the tavern business in April 2008, and after undertaking internal and external refurbishments to the bar and bistro areas, re-opened the tavern in May 2008.
Mr Lipp said the tavern and the associated bistro and retail liquor store is generating in excess of $25,000 per week in revenue.
According to Mr Lipp, the site, which is zoned Commercial-Yeppoon Central under the existing town plan, can potentially be built up to six levels, subject to council approval.
The Marsden Tavern bistro is fully licensed and is equipped to cater for over 100 guests.
The property is being auction tomorrow at the Palazzo Versace in Main Beach from 11am.