Billionaire pub baron Justin Hemmes sells his stunning waterfront property in Sydney for $5.5million
Billionaire pub baron Justin Hemmes has sold his waterfront home at Pittwater in Sydney for a whopping $5.5million.
According to The Sunday Telegraph, the 49-year-old offloaded the Morning Bay retreat earlier this week.
Justin purchased the home five years ago when he purchased the nearby Newport Arms, a historic hotel located on the shores of Pittwater.
Sold! Justin Hemmes has sold his stunning Pittwater home for $5.5million, according to The Daily Telegraph. Pictured with Madeline Holtznagel
The chic weekender has three bedrooms and a large open-plan living area, perfectly suited for entertaining.
The stunning property also features sweeping waterfront and bushland views, and includes a boathouse and a workshop.
The home also features a floating roof and a large box gutters that feed rainwater into a 50,000-litre tank.
Hemmes originally purchased the home for $2.75million from theatre production designer Laurence Eastwood and his wife, Deborah.
The couple paid just $510,000 for the 1275sqm vacant block back in 1996.
Retreat: Justin purchased the home five years ago when he purchased the nearby Newport Arms, a historic hotel located on the shores of Pittwater
What a view: The chic weekender has three bedrooms and a large open-plan living area, perfectly suited for entertaining
Sweeping: The stunning property also features sweeping waterfront and bushland views, and includes a boathouse and a workshop
It comes after Justin revealed an ambitious plan to save Sydney’s nightlife after the crushing blows of the pandemic.
Speaking to Daily Telegraph in October, the 49-year-old revealed he has snapped up six new venues prior to the city’s extended lockdown.
The Sydney businessman will soon open Rozelle’s 3 Weeds pub after a refit, and recently re-opened The Alex in Alexandria.
‘We kept all our construction jobs going during lockdown,’ he said. ‘We’ve got three, no, four new venues opening soon.
‘Actually there’s more, we’ve been supercharged for about a month now.’
Hemmes, who owns The Ivy, also plans on bringing back dancing to the city.
Empire building: ‘We kept all our construction jobs going during lockdown,’ he said. ‘We’ve got three, no, four new venues opening soon.’ Pictured: Outside of The Ivy precinct
‘Just before our last lockdown we had the clubs trading at full tilt and I’d never seen so much joy to be dancing,’ he said.
‘I think there will be a huge revival on dance floors,’ he added. ‘Dancing is tribal. It’s innate in our DNA makeup.’
Hemmes takeover isn’t just in the city with him also recently purchasing iconic Byron Bay dive bar Cheeky Monkey’s for $13.5million.
Changes: ‘I think there will be a huge revival on dance floors,’ he added. ‘Dancing is tribal. It’s innate in our DNA makeup,’ Justin said. Pictured Totti’s restaurant in Bondi (pictured)
Justin’s family fortune is worth about $1.06billion.
His property portfolio includes the Beresford Hotel in Surry Hills, the Queen Victoria Hotel in Enmore, and Bondi’s Royal Hotel.
Justin also recently bought his ex-partner Kate Fowler a $7.5million mansion Dover Heights, which is one of Sydney’s most exclusive suburbs.
Fortune: Justin’s family empire is believed to be worth about $1.06billion