Former Wahlburgers Circular Quay restaurant up for lease near the Sydney Opera House

The restaurant opened in February 2022 as the first Australian outlet for the US burger chain founded by brothers Mark, Donnie and Paul Wahlberg.

It was expected to accommodate about 250 diners and employ 65 people, with Mark Wahlberg describing the Circular Quay site at the time as “one of the most iconic venues in the world”.

The local operator initially announced plans to open 20 Wahlburgers restaurants across Australia and New Zealand over five years, representing a proposed $US50 million investment and more than 500 jobs.

Wahlburgers now appears to operate two Australian restaurants, at Bringelly in south-west Sydney and Surfers Paradise on the Gold Coast, following the closure of its Opera Quays and Manly Beach venues.

The property’s hospitality history predates the celebrity chain by more than two decades, extending back to the opening of Opera Quays in 1999.

Previous occupants include the famous Minus 5 Ice Bar, where customers donned winter jackets to drink vodka in subzero temperatures, and Buckley’s Bar, which operated at the site until it closed during the COVID-19 pandemic in 2020.

Retail Commercial Consultancy owner Andrew Vines, who is marketing the lease in conjunction with Blueprint Property agent Anthony Malek, says he’s keen to attract high-quality tenants to the rare two-storey Circular Quay opening.

“It is next to impossible for global hospitality and fast-food brands to find iconic sites in Sydney CBD which have waterfront locations near the Opera House,” Vines says.

“Operators seeking a presence in this tightly-held precinct have traditionally needed to acquire an existing hospitality business, often at a substantial premium. This campaign provides a rare opportunity to secure a direct lease in a globally recognised harbour-front location.”

A new long-term lease is available without a redevelopment clause, providing greater certainty for a brand investing in a substantial refurbishment or new hospitality concept.

The venue provides about 408 square metres of usable space, comprising a 256-square-metre ground floor, a 137-square-metre mezzanine and a further 15 square metres occupied by the lift and its step-out area.

The campaign offers a look at the venue’s possible future and its past, leading with AI-generated concepts showing contemporary new finishes before later photographs reveal the former Wahlburgers fit-out.

The ground floor contains an open-plan dining area, an oversized bar, seating and bathroom amenities.

The mezzanine houses a large kitchen, cool room, storage and office. Vines says a future operator could incorporate private dining or other exclusive hospitality experiences into the second level, subject to approvals.

A passenger lift connects the mezzanine and ground floor with the basement common-property service area, providing access to the loading dock. 

The property is one of only six approved restaurant tenancies within Opera Quays and comes with an existing hotel liquor licence.

It also boasts historic approval for gaming machines. However, no gaming is currently operating, and any future proposal would be subject to approvals.

“The combination of the property’s scale, established hospitality history, licence, outdoor trading potential and position between Sydney Opera House and Circular Quay creates an outstanding platform for a flagship hospitality concept,” Vines says.

The tenancy also has exclusive use of a large outdoor seating area forming part of the Opera Quays common property. Additional outdoor umbrella dining on the waterfront promenade may be possible, although an incoming tenant would need to apply separately to Place Management NSW and, if approved, pay additional licence fees.

While hospitality remains the principal focus, Vines says the size, frontage and tourism exposure could also appeal to jewellery, fashion, gift and tourism-related retailers.

The surrounding precinct attracts tourists, cruise passengers, CBD workers and crowds generated by Vivid Sydney, New Year’s Eve, Australia Day, concerts and other major events.

The venue occupies a prominent harbourfront position between two of Sydney’s busiest destinations – the Sydney Opera House, a 350-metre stroll away and visited by about 10.9 million people annually, and Circular Quay railway station, about 400 metres away and recording about 14 million annual tap-ons and tap-offs – and boasts breathtaking views across Sydney Harbour to the Harbour Bridge.

“Retail business is based on foot traffic,” Vines says. “If millions of people pass the site every year, your business has a captive market.”

He says the campaign generated about 20 inquiries within its first 24 hours online, with calls also received before its formal launch.

“There’s been massive amounts of inquiry,” Vines says. “It’s one of those places that people will just pursue because of its position.”

On likely next suitors, Vines says: “We expect interest from leading Australian operators as well as international hospitality groups, including brands from the United Kingdom, Singapore and the United States that are considering entry into or expansion within the Australian market.”

The campaign comes as a new wave of US dining brands enters Australia, with landlords increasingly treating major food and beverage operators as strategic anchors capable of driving visits, dwell time and spending at surrounding retailers.

For Vines, bringing the site’s lease to market also represents a career highlight.

“For me, working on a property like this is a great honour,” he says. “It’s one of the best things that, as an agent, you can ever work on.

The property is for lease via international expressions of interest, with rent costs undisclosed.