
- Olive on Cuba St has been sold, with the new owner planning a venue refresh.
- Richard Walshe and Scott Benton have purchased the restaurant, which will close on January 28 and reopen in late February to early March.
- Walshe has assured fans that Olive鈥檚 courtyard and trading hours will remain the same.
A much-loved restaurant described as a Wellington 鈥渋nstitution鈥� has been sold, with the new owners planning a complete refresh to 鈥渂ring the vibrancy back鈥� to the capital.
Olive has been serving French- and Italian-inspired contemporary New Zealand Cuisine on 奥别濒濒颈苍驳迟辞苍鈥檚 Cuba St for more than two decades.
It was owned by head chef Jamie Morgan and brothers Ferdi and Carlo Petagna, who also own and operate Italian restaurant Fratelli on Blair St.
Carlo Petagna told the Herald that after 10 years operating the business, the trio decided to put it on the market 18 months ago.
鈥淲e鈥檝e had a great time here and loved the last 10 years but for us, we just wanted a change in life.鈥�
He said when they took over the restaurant, they were in a 鈥渄ifferent stage of life鈥�, and now all have young families and want to step back.
鈥淚t鈥檚 tough, there鈥檚 a lot of nights that you鈥檙e away from home working,鈥� he said.
But Petagna was also clear there are no regrets.
鈥淚 don鈥檛 want this to be a sad story, it鈥檚 more a celebration for us of Olive, it鈥檚 been in Wellington hospitality for about 25 years,鈥� he said.
It won鈥檛 be named Olive anymore, Petagna said, and they plan to close on January 28.
Owner Carlo Petagna says after running the business for 10 years, it is time for a change. Photo / Google Maps
Richard Walshe confirmed to the Herald he and business partner Scott Benton have purchased the business.
Walshe, who is also a business and life coach, has 20 years鈥� experience in hospitality and said he hopes the new spot will 鈥渂ring the vibrancy鈥� back to Wellington.
He purchased historic Wellington pub the Thistle Inn 10 years ago and said he 鈥渢ransformed鈥� it from making no money into a 鈥渉ugely successful鈥� venue.
Walshe said the new venue to replace Olive would open in late February to early March after the premises receive a 鈥渞efresh鈥�, but wanted to assure loyal customers 鈥測our favourite nook will still be there鈥�.
He said the much-loved courtyard would remain and it would operate with the same trading hours.
Olive is known for its "rustic-chic" courtyard dining area. Photo / instagram.com/oliveoncuba
Another Wellington restaurant, Mabel鈥檚, also confirmed its closure this week, with mention of the need for better work-life balance.
In a post on Instagram, owner Marlar Boon explained the reason for shutting.
鈥淲e have missed our kids terribly (Ian has worked nights all of our eldest son Maxim鈥檚 life) and are looking forward to some summer 2025 downtime, celebrating my little brother鈥檚 wedding and catching up with extended wh膩nau.鈥�
Popular bakery Myrtle is also closing, announcing the decision one week after being crowned the capital鈥檚 best bakery.
The closures follow others in the hospitality industry this year including Bordeaux Bakery, Pandoro, Alamir Bakery and Hiakai.
Walshe said it鈥檚 not all doom and gloom in the sector but acknowledged it can be 鈥渃hallenging鈥� and 鈥渉ard work鈥�.
A name for the new venue is yet to be decided.
Ethan Manera is a multimedia journalist based in Wellington. He joined 九一星空无限 in 2023 and is interested in politics, local issues and the public service. Ethan is always on the lookout for a story and can be emailed at ethan.manera@nzme.co.nz or messaged on X (formerly Twitter) via the handle .
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