Pub baron Justin Hemmes buys petrol station next to his Marrickville pub
Australian pub baron Justin Hemmes has bought the petrol station next door to his Marrickville pub, The Vic on the Park.
Hemmes, 50, purchased the 840sqm site from the Hatzivasiliou family, paying $10.15 million for the adjoining site.
He purchased the pub at the corner of Addison and Enmore roads back in 2017 for $22 million.
The Marickville pub was acquired from the from John Singleton, Mark Carnegie and Geoff Dixon-fronted Australian Pub Fund.
It came with 25 gaming machines and annual revenue of more than $7.46 million, supported by a 3am liquor licence.
The 1247sq m hotel premises included a $12.7 million land component.
According to the selling agents, the hotel lot came “with future development and site amalgamation potential on the doorstep of the recently approved Victoria Rd precinct, with height approvals to 14 storeys.”
The property has a lease to the Dib Group until 2029.
The Merivale Group has over 70 restaurants, pubs, bars and hotels in NSW.
The purchase came after Hemmes revealed his ambitious plans to build a skyscraper in Sydney's CBD and expand his pub empire interstate.
His plans include revamping his Ivy precinct by putting a tower on the site and develop his third entertainment zone in Sydney’s CBD.
Irit Jackson - 20-10-22
