Pub tsar Justin Hemmes has spent 15 years accruing a fortune of more than $1.2 billion but he’s not even close to finished yet
Justin pictured with his father John Hemmes, who helped him kickstart the Merivale business. Picture: Todd Martyn-Jones– the first mansion in the country to sell for one million dollars.The last Merivale fashion outlet closed in 1996, with the company moving to strictly hospitality based businesses in the early 90s and was worth an estimated $500m.
In 2015 alone, Hemmes spent millions buying venues such as the Paddington Arms, Trumps Tavern Newtown, the Coogee Pavilion and the Newport Arms. The Hatzivasiliou family had owned the adjoining 804 sqm petrol station site since 2001, before Hemmes paid $10.15m for the commercial property. This potential purchase comes two years after Merivale purchased the Cheeky Monkey’s bar and adjoining retail property with plans to replace it with a high-end hospitality venue.Hemmes is rumoured to have recently purchased a property in Byron Bay, near the Cheeky Monkey’s bar and adjoining retail property – both owned by Merivale.
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