Failed pub baron Jon Adgemis’ company loses landmark St Kilda pub

A diversified property developer has rescued a landmark St Kilda pub from the wreckage of a failed hospitality empire, promising to restore its former glory.

The Saint Hotel in St Kilda has been bought by the Kokoda Property Group.

Failed pub baron Jon Adgemis company, Public Hospitality, has lost its partially owned St Kilda pub after a diversified property developer purchased it for about $8.4m through receiver FTI Consulting.

The Saint Hotel, fronting 54 Fitzroy St, St Kilda was bought by the Kokoda Property Group which is building its hospitality holdings and will re-design the pub’s interiors to bring back the “fun”.

At his peak, Mr Adgemis operated 22 venues in Sydney and Melbourne, but receivers have been selling them.

It is understood Mr Adgemis and investors paid about $10m for the Saint Hotel several years ago, spending another $5m to refurbish the pub.

Kokoda Property Group founder Mark Stevens said he would spend several million dollars yet again to refurbish the hotel.

“We will spend several million dollars on it, we will reposition it, there will be a lighter interior, we will bring back the fun of Fitzroy,” said Mr Stevens, who purchased the pub through agents Cushman & Wakefield.

“It was a fun, active, joyful area back in the day; we will bring that back … adding multiple bars, dining areas, private rooms, cellars and open terraces.

“We will make the price points for food and beverages really attractive, there will be simple, approachable food, such as really cool pizzas, and really cool tacos, we will expand upon that.”

Mr Stevens said the venue would be separated into areas, for private dining and corporate events, such as weddings, private gatherings and business functions.

High-profile businessman Jon Adgemis in Sydney. Picture: Liam Mendes

The Saint Hotel will undergo another refurbishment.

Mr Stevens expected the Saint Hotel to reopen next June.

Occupying a prominent 1150sqm corner site with a dual street frontage, the Saint Hotel is one of St Kilda’s most recognisable hospitality landmarks.

“The design will prioritise connection to the street, ensuring a more open, welcoming

experience that feels authentically part of the St Kilda fabric,” Mr Stevens said.

“The acquisition of the Saint Hotel reflects our broader ambition to

activate iconic sites and contribute meaningfully to Melbourne’s lifestyle landscape. It’s about elevating the everyday and celebrating the character of place, where guests can enjoy a dining experience without having to spend a lot of money.

“Our vision for Saint Hotel is … this will be a place where locals feel at

home and where great design meets relaxed hospitality.”

Kokoda Property Group, which is behind the $1.5bn Teneriffe Banks development in Brisbane that will be home to the state’s first Kimpton Hotel, has also purchased The Angel of Malvern pub which is set to open in April 2026.

Originally published as Failed pub baron Jon Adgemis’ company loses landmark St Kilda pub