The story
Margaret has rapidly claimed the title of Australia’s number one steakhouse and the second best in the world, helmed by Chef Neil. Jack’s Dining Room singled out the Mishima ribeye as “incredibly tender,” while the kitchen also turns out the Heritage Wagyu Ribeye and refined seafood like “unique fish like coral trout in XO butter.” The same creator noted that the coral trout is the standout dish, balancing the menu’s beefy focus with clean, inventive preparations.
The open-kitchen, upscale space balances classic steakhouse precision with that seafood finesse, making it a serious local destination for both meat lovers and seafood fans. It’s a warm, confident venue that proves exactly why it sits at the top of global rankings—a place where every plate, from ribeye to coral trout, earns its reputation.
Synthesised by AI from every creator’s review. First reviewed 2026.
Most-loved dishes
AI summary of what 4 dish mentions say about the food
The coral trout earns unanimous praise for its delicate, perfectly cooked flesh. Overall, the food at Margaret delivers a refined yet warmly inviting experience.
“Although it's a steak house, the coral trout is actually my favorite dish.”
What creators say
2 creators have covered Margaret. Most active: Jack's Dining Room
Number one ranked steak house in Australia, where the coral trout is the standout dish.
Dishes mentioned
Coral Trout
Although it's a steak house, the coral trout is actually my favorite dish.
- Jack's Dining RoomLoved
Trying the #2 ranked steakhouse in the world! 📍Margaret, Sydney #steak #steakhouse #australia · @ 0:00
Margaret is the number one ranked steakhouse in Australia and number two in the world, run by Chef Neil, serving incredibly tender Mishima ribeye and unique fish like coral trout in XO butter.
Dishes mentioned
Mishima Ribeye
This steak is the reason people come to Margaret. He's one of three restaurants in the world that serve this beef that legitimately cut like a piece of butter. The dry aged flavor and the fat running through that is so intense. The flavor of the rib got like almost punches you. Yeah, and they're so juicy and tender because it's like wagyu, but it's not because it's grass-fed.
Heritage Wagyu Ribeye
Next up, we have this heritage wagyu ribeye, and it's interesting cuz in Australia they serve the steaks with a side of lemon and a massive side of five whole bone marrow. I can feel the fat running through my veins already, but I love it. The bone marrow is good, too.
Coral Trout in XO Butter
Although this is the number one ranked steakhouse in Australia, Chef Neil's very much known for his fish. He was saying that he gets the fish that most people have never tried in their lives. This is a coral trout in an XO butter. It's amazing. I feel like every restaurant in America just has the same branzino, and then you come to Australia and you try fish you've never heard of. I'm going to start importing some coral trout back to New York. I'll throw them in the Hudson River.
