Justin Hemmes’ returns to his first love – Byron Bay
Merivale’s Justin Hemmes has continued his Byron Bay commercial property buyup.
Having previously bought the backpacker bar Cheeky Monkeys premises, Hemmes has just spent $11.9m on the neighbouring Jonson St property.
The property, located directly across the road from Woolworths, is occupied by Jonsons Restaurant Bar, Asian grocery store Red Ginger and clothing store Bell & Ford.
Hemmes secured the 1005sq m property off market.
It sold for $950,000 in 2000 when bought by the Juddell family.
Hemmes bought next door in 2021, paying $11.5m for the 827sq m property on the Kinglsey St corner.
The commercial property buyup has been accompanied by private residential acquisitions, with two houses on Childe St, Belongil Beach.
Hemmes initially spent $16m on a beach shack sold by Stephen Hains, the director of private funds manager Portland House Group.
The 1922sq m block comes with a 1960s house.
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It is just a few doors away from another home on 2000sq m plus, which Hemmes bought but is yet to settle. It is expected to have fetched around $22m.
“I’ve been going to Byron since I was 10 years old, so it has always been a place close to my heart,” Hemmes told The Telegraph after his first purchase in 2021.
“I can’t wait to open our first venue on the North Coast and spend more time in the area.
“There’s simply no place like it.