Justin Hemmes reveals his bold new plan for the future of Sydney

Billionaire Justine Hemmes has unveiled his ambitious plans to transform five heritage buildings in the heart of Sydney’s CBD into a hospitality precinct.

The hospitality magnate, who is CEO of Merivale and runs Hemmes Hermitage with his sister and mother, unveiled business plans to transform an area previously known as Kings Green.

The company hopes to transform five historic buildings between King, York, Clarence and Barrack streets into a hospitality precinct.

Covering 16,300 m², the precinct will be an interconnected mixed-use district, with a new hotel, office spaces and world-class restaurants.

The proposal, unveiled by The Daily Telegraphincludes Hotel CBD – a multi-storey Victorian building purchased by the company in 1995.

The remaining buildings include 50 King Street, 73 York Street, 71 York Street and 312 to 318 Clarence Street, all of which were purchased in 2022.

The transformation will not involve major reconstruction or demolition, with the proposal retaining the heritage features, footprints and current heights of the buildings.

The precinct covers an area of ​​16,300 m² and will be an interconnected mixed-use precinct, with a hotel, office space, restaurants and entertainment venues, including bars and clubs.

Mr Hemmes said Sydney was entering a “new and exciting era for hospitality and entertainment”.

He explained that the proposed district would expand the city’s 24-hour economy by offering residents and workers more choice in food, entertainment and beverages, and create hundreds of jobs.

“We are embarking on a mission to transform the individual spaces of these incredible buildings into a combined licensed precinct that will facilitate high-quality and accessible entertainment, dining, drinking and accommodation options,” Mr Hemmes said.

“We want to build on the heritage and memories of our Hotel CBD location, which we have built and operated since 1995.

‘The area is ideally located close to public transport, existing retail space and a central CBD location.

“We are excited to bring to life and celebrate some of the CBD’s most beautiful and interesting buildings and share them with the public through the creation of new food, entertainment, office, accommodation and wellness facilities.”

Once approved, the project will be completed in phases, with each location launching separately.

It comes as Mr Hemmes filed a lawsuit against Sydney Metro last month over its new Hunter Street station.

Mr Hemmes claims the station has lowered the value of his famous $525 million nightclub in the Ivy District, owned by his company Hemmes Hermitage.

The Ivy District, located at 320 and 330 George Street, includes the Ivy nightclub and several popular bars and restaurants, such as Bar Topa, Totti’s and Jimmy’s Falafel.

The proposal includes Hotel CBD (pictured) – a multi-storey Victorian building purchased by the company in 1995.

In a claim filed in the NSW Land and Environment Court, Hemmes Hermitage alleged that Sydney Metro’s compulsory acquisition of much of the land it owned around the Ivy precinct block had caused the loss of easements or access points.

In September, the Merivale group was also accused of promoting a culture that endangered women, failing to respond to claims of sexual assault and condoning the use of drugs by customers and staff.

Merivale strongly denied allegations of a toxic work culture found in the ABC investigation and said in a statement that it took allegations of misconduct seriously.

The company also fired back at the ABC, claiming it had published ‘false and misleading material’.

Merivale, which operates more than 90 locations in Sydney and Victoria, is one of the country’s largest hospitality groups, with a net worth of approximately $1.4 billion.