Billionaire publican Justin Hemmes adds to his portfolio with purchase of $22 million Leichardt venue – after buying up massive block of land for a $50million ‘mega venue’ in Byron Bay
Justin Hemmes has another feather in his cap, buying up a $22 million Leichardt venue.
The Daily Telegraph reports that the billionaire publican has purchased Nortons Irish Pub and will take over the venue next month.
‘It is such a privilege to be part of Sydney’s vibrant inner west,’ Hemmes told the paper on Tuesday.
New venue: Justin Hemmes (pictured) has another feather in his cap, buying up a $22 million Leichardt venue
‘We’re excited to not only expand our inner west pub portfolio, but reopen doors to the 3 Weeds, a beautiful and much-loved local institution, this spring’ he added.
It comes after Hemmes made his first moves in Byron Bay, finalising a $50million deal to take over the Mercato Precinct and adjoining development site.
He is said to be planning a $20million redevelopment of the Mercato to create a ‘mega venue’ similar to his Ivy and Coogee Pavilion venues in Sydney.
Nice digs: The Daily Telegraph reports that the billionaire publican has purchased Nortons Irish Pub (pictured) and will take over the venue next month
The vacant land spans 4,128sqm and has a flexible B2 Local Centre zoning, allowing for a wide range of mixed-use development including retail, residential and hotels.
His new holding is located directly opposite rival pub The Northern – one of just three major pubs operating in Byron Bay.
However, there has also been a local rebellion, with Byron locals refusing to sell to cashed-up investors, despite big offers.
Buying up: It comes after Hemmes made his first moves in Byron Bay, finalising a $50million deal to take over the Mercato Precinct and adjoining development site
Changes: He is said to be planning a $20million redevelopment of the Mercato to create a ‘mega venue’ similar to his Ivy and Coogee Pavilion venues in Sydney
In March, neither Justin nor his pub-baron-rival Stu Laundy could offer enough money to secure the Bangalow Hotel, which is 14km inland from Byron Bay.
The rivals became locked in a bidding war for the 60-year-old pub, which is owned by NRL star Tom Mooney and wife Cathryn.
The top bid reached a staggering $50million.
Byron battle: In March, neither Justin nor his pub-baron-rival Stu Laundy (pictured) could offer enough money to secure the Bangalow Hotel, which is 14km inland from Byron Bay