Landmark restaurant lease with 2,000 square foot lakeside patio on award-winning Main Street

Large patio overlooking beautiful Fairy Lake at 500 Water Street, Newmarket
Large patio overlooking beautiful Fairy Lake at 500 Water Street, Newmarket

There’s not much better than enjoying a great meal and cocktails on an extensive lakeside patio without having to leave the GTA; except maybe, owning the restaurant business serving up those views and treats. The Town of Newmarket is currently offering a long-term lease for 500 Water Street, Newmarket, as a unique and elevated dining establishment. The landmark property features 5,000 square feet of commercial space and almost 2,000 square feet of picturesque patio space boasting beautiful views of Fairy Lake and Main Street South.

“Over the past two decades, the Townlocal businesses and building owners have invested over $30 million in the revitalization of Main Street South, leading to the continued growth of our downtown as a top dining, shopping and entertainment destination in York Region,” says Mayor John Taylor. “We are extremely excited to continue this momentum with the next chapter of 500 Water Street, a very rare opportunity to be a key part of our award-winning downtown in one of the best, if not the best location in town.”

Downtown Newmarket welcomes over a quarter of a million visitors per year and offers an eclectic mix of longstanding businesses including locally-owned shops, restaurants, cafes and more, balanced with many new boutique shops recently opened or soon-to-open in 2023. The Street is host to York Region’s Pride Parade and many events and festivals throughout the year. The continued transformation of the downtown has led to Newmarket’s Main Street being voted the best in the country and has attracted York Region’s first boutique hotel, the Postmark, which is scheduled to open in summer 2023. The reinvention of this special heritage property into a 55-room boutique hotel, featuring a rooftop event space and restaurant will further add to the vibrancy and excitement of downtown Newmarket.

500 Water Street is located just steps away from Newmarket Riverwalk Commons (Riverwalk) and the historic Main Street South in the heart of the downtown area. Riverwalk features an outdoor stage, water feature/ ice rink and various year-round events. Thousands of residents and visitors from throughout the province come together to experience a wide range of events and festivals, including the weekly TD Newmarket music series, hundreds of community events, one of the best Farmers’ markets in Ontario as well as a full winter wonderland, ice lounge and frozen Fridays during the winter season.

Proposals are being accepted until July 7, 2023. All documents can be viewed, downloaded and submitted at For assistance with accessing the documents or submitting a proposal, please contact the Town of Newmarket’s procurement department at [email protected] or 905-953-5335.

500 Water Street
Just steps away, Newmarket Riverwalk Commons attracts thousands of people every year through a wide range of award-winning events and festivals.

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