Billionaire publican Justin Hemmes adds to his portfolio with purchase of $22million Leichhardt 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 $22million Leichhardt venue.
The Daily Telegraph reports that the billionaire publican has purchased Norton’s 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 $22million Leichhardt 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 Norton’s 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