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Billionaire pub baron Justin Hemmes adds to his empire – by buying a GAS STATION in Marrickville
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Justin Hemmes expands his empire by buying a gas station.
The 50-year-old billionaire pub baron has paid $10.15 million for an 840-square-foot gas station next to his Merivale location, The Vic on the Park, in Sydney’s Marrickville.
Hemmes bought The Vic on the Park in 2017 for $22 million and looks set to expand the location into the adjacent lot.
Justin Hemmes expands his empire by buying a gas station. In the picture with friend Madeline Holtznagel
What exactly he plans to do with the site is not clear at this stage.
It comes after Hemmes opened up his ambitious new plans to build a skyscraper in Sydney’s CBD and expand his pub empire interstate.
He plans to revamp his Ivy district by putting a tower on the site, developing his third entertainment district in the Sydney CBD and shaking up Melbourne’s pub scene.
The 50-year-old billionaire pub baron has paid $10.15 million for an 840-square-foot gas station next to his Merivale location, The Vic on the Park, in Sydney’s Marrickville.
Hemmes bought The Vic on the Park in 2017 for $22 million and looks set to expand the location into the adjacent lot
Hemmes confidently recorded his ambitious plans in a profile with Good weekendalso citing friends and rivals who supported his chances of success.
He also talked about his famously feisty lifestyle, which has often led him to be labeled a “playboy.”
‘[Is it] someone having a lot of fun?’ Hemmes asked. “Maybe I’m guilty of that, but I enjoy working, building and creating much more than I enjoy a life of leisure.”
It comes after Hemmes opened up his ambitious new plans to build a skyscraper in Sydney’s CBD and expand his pub empire interstate
Hemmes’ new plans for the Ivy site are vague, but include a multi-purpose skyscraper that will “blur the lines” between public spaces, work and parties.
He described the project as the “biggest challenge” of his career and a “game changer” for Merivale.
One estimate puts the construction cost for the Ivy renovation at $300 million.
As Hemmes gambles to spend money as he sends his iconic Ivy district into the air, he is poised to build a new bustling Merivale zone around the Hotel CBD on Sydney’s King Street.
Hemmes to build a new bustling Merivale zone around the Hotel CBD on Sydney’s King Street
His plans include glamorous properties at 50 King Street, 104 Clarence Street, and 71 and 73 York Streets to become signature Merivale showpieces.
One of his biggest rivals, fellow tax collector Stu Laundy, predicts that Hemmes will succeed, partly because he is seen as ‘too big to fail’.
Over the past year, Hemmes has also embarked on serious steps in Melbourne, purchasing the 1853 seven-storey Tomasetti House, on Flinders Lane, in 2021 for $43 million and the Lorne Hotel on the Great Ocean Road for $38 million. .
Over the past year, Hemmes has also made serious strides in the Melbourne pub scene. Pictured is the Lorne Hotel on the Great Ocean Road, which Hemmes bought for $38 million