Bondi Icebergs restaurant and bar has hosted royalty, from Princess Mary of Denmark to Oprah Winfrey, but owner John Singleton has decided he wants out.

The businessman secured $15 million for the leasehold of the famous level three eatery. Overlooking Bondi Beach, the Iceberg Dining Room and Bar was saved by Mr Singleton in the late 1990s and transformed into one of the country's iconic places to visit and be seen.

The private Melbourne-based O'Brien Group, the country's largest privately owned hospitality, entertainment and leisure company, was the buyer. It owns and operate stadiums including O’Brien Group Arena at Melbourne's Docklands, Suncorp Stadium, Brisbane and Eden Park, Auckland, as well as a range of pubs.

It was said the buyers beat out a range of interested parties for the venue, which occupies the top floor of the building.

Mr Singleton, who has been selling down the pub portfolio he owns with former Qantas chief executive Geoff Dixon and Mark Carnegie over the past three years, still has a lease over the entire property, built on crown land, until 2042.