Holdfast Bay Council puts off decision on HMS Buffalo's fate until January The HMAS Buffalo Restaurant at Glenelg - fate in the balance. GLENELG'S replica of the HMS Buffalo could be matchwood by the end of the year, as Holdfast Bay Council struggles to find a way to save it. The council has decided not to consider an offer from the restaurant's operator to buy the structure for just $1 and has already received a report saying restoration would cost too much, but it has now commissioned a second report. Deferring a decision on the site until January, the council now must race against operator Richard Finlayson, who said he could not guarantee he would not demolish the site before the council completed the report because he cannot afford to keep the business operating. READ MORE: Audit to decide Buffalo's fate It is understood council staff will be asked to push the report through by next month. Property developer Con Makris has also ruled out taking over the crumbling vessel. Property developer Con Makris has also ruled out taking over the vessel. Mr Makris, the state's richest man, revealed he was no longer interested in acquiring it to use as a tourist attraction near his Holdfast Bay Shores property developments. Mr Makris said he was no longer interested in the buying the ship because of its run-down condition. "The bottom of the ship is concrete and so it will be difficult to relocate," Mr Makris said. If it was able to be moved I would be interested, but it's not so it's not a viable proposition for me. In September he had flagged a desire to buy the vessel and relocate it near his proposed ferry terminal, adjacent Holdfast Shores, if his plan for a high speed Glenelg to Kangaroo Island ferry service won the support of the State Government. Before the meeting, Mr Finlayson said he would have little choice but to cut his losses, close the restaurant and dismantle it, if the council voted not to buy the ship. The original Buffalo brought colonists and first governor John Hindmarsh to Adelaide in 1836, but it was later lost as a wreck.