Merivale magnate: How Justin Hemmes restored portfolio to former glory

Sam Murden

First published 17 March 2023, 5:00am

Justin Hemmes’ has a portfolio worth $1.2bn+

When Sydney pub baron and hotelier Justin Hemmes turns 50 in August this year, he will have accrued a commercial and residential fortune over $1.2bn.

Heir to the Merivale fortune, Hemmes has spent almost 15 years buying and investing in a significant number of pubs, hotels and restaurants across NSW and Victoria.

Justin Hemmes pictured at Jimmy’s Falafel. Picture: Christian Gilles

Hemmes’ father John was a Dutch-Indonesian migrant who first settled in New Zealand before migrating to Australia in 1952.

The company would be founded five years later, named after his mother Merivale Hemmes – initially starting business as a fashion store in 1959 in Castlereagh St in Sydney’s CBD.

The first hospitality property to be acquired was the Angel Hotel building in Pitt St, which was transformed into a multi-level retail outlet with an espresso bar in 1970.
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DT NEWS 05/04/04....Syd Con...5 Chefs dinner at the Four Seasons Hotel by the Starlight Foundation to raise funds for the Starlight Fun Centres....John and Justin Hemmes.....pic Todd Martyn-Jones

Justin pictured with his father John Hemmes, who helped him kickstart the Merivale business. Picture: Todd Martyn-Jones

Both Merivale and John Hemmes made headlines in 1975 by reportedly buying The Hermitage in Vaucluse – the first mansion in the country to sell for one million dollars.

It is now likely worth north of $100m.

Justin Hemmes home, The Hermitage at Vaucluse

The last Merivale fashion outlet closed in 1996, with the company moving to strictly hospitality based businesses in the early 90s and was worth an estimated $50m.

Justin Hemmes became a known figure in 1998 when he developed the Establishment precinct which opened in 2000 around the same time as the Sydney Olympics.
It was considered ground-breaking for introducing the country to the concept of multiple venues within the one premise. The Ivy precinct would came a decade after the Establishment.

MARCH 19, 1992 : Merivale Hemmes, owner of Merivale fashion stores at home at her Vaucluse mansion The Hermitage, 19/03/92. F/L

Merivale Hemmes, owner of Merivale fashion stores at home at her Vaucluse mansion The Hermitage in a 1992 photo.

In 2015 alone, Hemmes spent millions buying venues such as the Paddington Arms, Trumps Tavern Newtown, the Coogee Pavilion and the Newport Arms.

At the time of publication, Merivale owns over 80 brands including 30 restaurants, 28 bars, and 19 pubs.

Hemmes went on another pandemic pub-buying spree in 2021, spending a total of $37.5m purchasing both the Cheeky Monkey’s in Byron Bay and Norton’s Irish Pub in Leichhardt, as well as buying the Duke of Gloucester Hotel in Randwick for $32m in November the year prior.

The Hemmes family started their hotel and pub journey with the Angel Hotel.

Hemmes also expanded his portfolio by purchasing a petrol station that sits next to his Marrickville pub The Vic on the Park in October last year.

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Hemmes purchased a petrol station that was neigbouring his pub The Vic on the Park in October 2022.

Hemmes purchased a petrol station that was neighbouring his pub The Vic on the Park in October 2022.

The Hatzivasiliou family had owned the adjoining 804 sqm petrol station site since 2001, before Hemmes paid $10.15m for the commercial property.

The Merivale Group also expanded into a catering business that works inside notably venues such as the newly refurbished Sydney Allianz Stadium.

Mr Hemmes’s property portfolio has come under focus last month, as he is believed to have purchased a $17m beach shack in Byron Bay.

The Merivale Group expanded into catering for the newly refurbished Sydney Football Stadium.

The property at 20 Childe St, Belongil Beach was listed via Sotheby’s agent James McCowan and is a single storey two bedroom dwelling which sits atop 1,922 sqm of land.

This potential purchase comes two years after Merivale purchased the Cheeky Monkey’s bar and adjoining retail property with plans to replace it with a high-end hospitality venue.

Hemmes also purchased a home in Narooma, nicknamed ‘Glasshouse Rocks’ in 2015 for $7.5m.

Hemmes is rumoured to have recently purchased a property in Byron Bay, near the Cheeky Monkey’s bar and adjoining retail property – both owned by Merivale.

The far south-coast town is also home to four venues owned by Hemmes including the Lynch’s Hotel, the Whale Inn, and the Quarterdeck Hotel.

Merivale owns a number of establishments on the Oxford St strip, including The Paddington, Fred’s, and Charlie Parker’s. There were also reports in April last year that Hemmes shelled out $9m on a large shopfront.