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Justin Hemmes’ $3b property empire outgrows nightlife roots

Justin Hemmes’ $3b property empire outgrows nightlife roots

The hospitality billionaire has spent at least $870 million building an empire that sprawls from Byron to southern Victoria. But there’s another business he is happy to leave in the shadows.

Primrose RiordanAssociate Editor
Updated

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Two years ago, Chris Scroggy was minding his own business when the Sydney realtor rang. How much would he consider selling his bar for, she asked. Scroggy’s bar, The Quarterdeck, had been a fixture in Narooma for almost two decades. A waterfront shack, it advertised itself as “The Little Red House of Tunes”. Scroggy told the caller a “go away” price and hung up. Two days later, she rang back. She was offering more.

The buyer was Justin Hemmes, 51, a Sydney publican and restaurateur who had taken an interest in the NSW South Coast town, population 3400. “I raced over to tell [Andrew, the owner of The Inlet, a neighbouring restaurant],” Scroggy remembers. “We collided in the doorway. He was coming over to tell he was also selling to Merivale.”

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Primrose Riordan
Primrose RiordanAssociate EditorPrimrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com

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Original URL: https://www.afr.com/property/commercial/justin-hemmes-3b-property-empire-outgrows-nightlife-roots-20231114-p5ejxt