Justin Hems’ bizarre property purchase

The hospitality industry billionaire has expanded his holding of Marrickville pub The Vic on the Park and made a surprising acquisition.

He paid the Hatzivasiliou family, who have owned it since 2001, $10.15 million for an adjacent 840-square-meter gas station site.

The deal follows the $22 million purchase of the pub on the corner of Addison and Enmore roads in 2017 from the Australian Pub Fund led by John Singleton, Mark Carnegie and Jeff Dixon. is.

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A successful food and beverage business, 25 game consoles sold with an annual revenue of over $7.46 million. It came with a 3am liquor license.

The 1,247-square-meter hotel site included $12.7 million in land.

The distributor advised that the hotel site is “located at the recently approved Victoria Road precinct gateway, approved up to 14 stories high, with potential for future development and site amalgamation.” was doing.

With a lease to Dibb Group through 2029, it’s definitely a long-term real estate deal for Hems.

Hems has a plethora of hotel venues in Sydney and in 2017 spent $8.95 million on a kitchen facility in Marrickville to furnish them.

Merivale Group operates over 70 restaurants, bars, pubs and hotels across NSW.

His catering empire has recently expanded to include the newly renovated Sydney Football Stadium, with up to 1000 employees at packed events.

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first published as Justin Hems’ bizarre property purchase