The Doyle family, one of Australia’s most well-known restaurant dynasties, has placed its historic Watsons Bay waterfront property on the market with an asking price of up to $70 million. The site, billed as the country’s first waterside seafood restaurant, has remained in the family for five generations and is considered one of Sydney Harbour's most iconic hospitality destinations.

Located at 11 Marine Parade and 2 Cliff Street in Watsons Bay, the property occupies 2,503 square meters of prime harbourfront land, featuring approximately 29 meters of direct frontage to Watsons Bay Beach. It offers expansive views across Sydney Harbour towards the central business district. Positioned adjacent to the wealthy Laundry family’s Watsons Bay Hotel, the consolidated landholding includes dual street frontages and is improved by the well-known Doyles on the Beach restaurant, which comprises indoor and alfresco dining areas alongside a separate residential dwelling.

The decision to list the property for sale was made by Doyle family patriarch Michael Doyle about a year ago. Established in 1885, the venue carries a history of over 140 years, making it one of the more enduring hospitality institutions in Sydney. The adjoining residential house, purchased by the family three years ago for $7.775 million, was listed for rent last year at approximately $150 a week.

Real estate agency HTL Property has been appointed to handle the sale after the property was quietly on the market for nearly 12 months. HTL managing director Andrew Jolliffe has launched an international marketing campaign, citing the rarity of hospitality assets that blend a strong brand, historical importance, and beachfront positioning on Sydney Harbour. The property’s zoning allows for a broad range of potential uses, including hospitality, residential, and tourism developments.

Buyers would acquire not only the freehold land but also the existing restaurant operation and an adjacent fish-and-chip shop, though industry insiders suggest any new owner is likely to continue running the restaurant, given its longstanding success and reputation.

HTL Property national director Dan Dragicevich highlighted the scarcity of comparable waterfront holdings in the market. The sale occurs amid rising demand for hospitality sites, with recent transactions such as the Ryan publican family's $100 million purchase of the Royal Oak Hotel in Double Bay demonstrating strong investor interest in prime hospitality venues.