Hospitality mogul Justin Hemmes looks to be expanding his property portfolio after splashing $60million on venues in Sydney’s Leichhardt and Lorne Beach in Victoria.
The Sydney based pub baron is said to be ‘close’ to snapping up two venues, Byron Bay hotspot Cheeky Monkey’s, according to The Sydney Morning Herald.
The second is The Whale, a hotel and restaurant located in Narooma, on the South Coast of NSW.
New project: Pub baron Justin Hemmes (pictured) is said to be ‘close’ to snapping up two venues, Byron Bay hotspot Cheeky Monkey’s and The Whale, located on the NSW South Coast
Cheeky Monkey’s closed its doors on March 23 last year amid the global pandemic and has not been open since.
The restaurant and bar, which also houses backpacker accommodation is located on Byron’s popular Johnson Street.
The Byron Bay property market has become a hot-spot for rich investors, particularly since the Covid pandemic hit, with many hoping to buy a slice of Australia’s hottest holiday destination.
New venue: According to a new report, the Merivale boss has registered interest in acquiring Byron Bay’s Cheeky Monkey’s (pictured)
Closed: Cheeky Monkey’s closed its doors on March 23 last year amid the global pandemic and has not been open since
Popular: The Byron Bay property market has become a hot-spot for rich investors, particularly since the Covid pandemic hit, with many hoping to buy a slice of Australia’s hottest holiday destination
Location: The restaurant and bar, which also houses backpacker accommodation is located on Byron’s popular Johnson Street
The town’s value is only expected to soar once international tourists again return to Australia.
However, there has also been a local rebellion, with locals refusing to sell to cashed-up investors, despite big offers.
On Thursday, the Merivale boss was revealed to have splurged $38milion on the oceanfront Lorne Hotel.
Interest: Meanwhile, the hospitality mogul is also said to be eyeing The Whale, a hotel and restaurant located in the town of Narooma, on the South Coast of NSW
Iconic: The oceanfront Lorne Hotel is 145 years old and is one of the best known regional pubs in the state of Victoria
The Lorne Hotel is 145 years old and is one of the best known regional pubs in the state of Victoria.
‘The Lorne Hotel is an iconic venue in a truly spectacular location,’ Hemmes said.
‘We feel honoured to continue their legacy and help usher the pub into the next phase of its incredible 145-year history.’
Nice digs: Just last week, Hemmes purchased Norton’s Irish Pub (pictured) and will take over the venue next month
Just last week, Hemmes confirmed that he also nabbed Norton’s Irish Pub for $22million and will take over the venue next month.
‘This is simply a continuation of our growth strategy pre-COVID, which was focused on acquiring great properties like The Royal and 3 Weeds, and creating new experiences in existing venues,’ he said.
Hemmes’ family fortune is worth about $1.06 billion.
His property portfolio includes the Sydney pubs, Beresford Hotel in Surry Hills, which he bought in 2010, the Queen Victoria Hotel in Enmore in 2015 and Bondi’s Royal Hotel, which he bought in 2017.
Hemmes also recently bought his ex Kate Fowler a $7.5 million mansion Dover Heights, which is Sydney’s most exclusive suburbs.
Daily Mail Australia has reached out to Justin Hemmes for comment.
Fortune: Meanwhile, Hemmes and his family’s empire is believed to be worth around $1.06 billion