Justin Hemmes splurges $70m on a block of land in Byron Bay – as ‘mega venue’ plans are revealed

Pub baron Justin Hemmes has finalised negotiations to purchase a huge portion of land in the heart of Byron Bay, New South Wales, reports claim. 

According to The Herald Sun, the Merivale boss has splurged $50million on the sprawling block, which formally housed a Woolworths supermarket.   

Hemmes is said to be planning a $20million renovation on the site to create a new ‘mega venue’ similar to his Coogee Pavilion establishment. 

New buy: Pub baron Justin Hemmes, 48, (pictured) is understood to have splurged $50million on a giant block of land in Byron Bay, with plans to spend another $20million on building a ‘mega venue’ similar to the Coogee Pavilion 

Located on Byron’s Johnson St, the site spans 4,128sqm and supports a flexible B2 Local Centre zoning – which allows for a wide range of mixed-use ­development this includes retail, residential and hotels.  

The Byron Bay property market has recently become a hot spot for deep-pocketed investors hoping to buy up a slice of coastal paradise.  

However, there have been several recent instances where investors have been knocked back by local landowners refusing to sell. 

'Mega venue': The site, located on Byron's Johnson St spans 4,128sqm and supports a flexible B2 Local Centre zoning, which allows for a wide range of mixed-use ­development this includes retail, residential and hotels

‘Mega venue’: The site, located on Byron’s Johnson St spans 4,128sqm and supports a flexible B2 Local Centre zoning, which allows for a wide range of mixed-use ­development this includes retail, residential and hotels 

Byron Battle: Stu Laundy (left) and Justin were said to be in a fierce battle to buy the iconic Pacific Hotel in Yamba, close to the New South Wales coastal town of Byron Bay back in March

Pictured: Justin Hemmes

Byron battle: It comes months after a handful of rejected offers to buy some of Byron Bay’s landmark pubs. Stu Laundy (left) and Justin were said to be in a fierce battle to buy the iconic Pacific Hotel in Yamba, close to the New South Wales coastal town of Byron Bay

Back in March, neither hotelier Justin nor his pub baron rival Stu Laundy could bid a high enough price when it came to scooping up the region’s historic Bangalow Hotel.

The rival pub barons were reportedly locked in a bidding war for the 60-year-old pub, which is currently owned by NRL star Tom Mooney and wife Cathryn, with bids reportedly reaching up to $50 million.  

But The Sunday Telegraph revealed both parties were ultimately unsuccessful. 

At war: The rival pub barons were reportedly locked in a bidding war for the 60-year-old pub (pictured) which is currently owned by NRL star Tom Mooney and wife Cathryn, with bids reaching up to $50 million

At war: The rival pub barons were reportedly locked in a bidding war for the 60-year-old pub (pictured) which is currently owned by NRL star Tom Mooney and wife Cathryn, with bids reaching up to $50 million 

Local watering hole: The Bangalow Hotel (pictured) is located in the picturesque town of Bangalow, in the hinterlands of Byron Bay

Local watering hole: The Bangalow Hotel (pictured) is located in the picturesque town of Bangalow, in the hinterlands of Byron Bay

No dice: 'Despite the dizzying dollars on the table, it’s understood negotiations went cold when the Mooneys made it clear by Thursday that — despite some too-ing and fro-ing — it was decided the pub would remain in the family for the foreseeable future,' the publication reported. Pictured: The Bangalow Hotel

No dice: ‘Despite the dizzying dollars on the table, it’s understood negotiations went cold when the Mooneys made it clear by Thursday that — despite some too-ing and fro-ing — it was decided the pub would remain in the family for the foreseeable future,’ the publication reported. Pictured: The Bangalow Hotel 

‘Despite the dizzying dollars on the table, it’s understood negotiations went cold when the Mooneys made it clear by Thursday that — despite some too-ing and fro-ing — it was decided the pub would remain in the family for the foreseeable future,’ the publication reported.   

The Mooney family boast an impressive property portfolio, which includes The Rails Hotel in Byron Bay and The Pacific Hotel in Yamba. 

Laundy and Hemmes were also reportedly also eyeing off The Pacific Hotel. 

However, it’s unclear whether that property was part of the Bangalow Hotel negotiations or whether the Pacific Hotel is still on the table. 

Still up for grabs? Laundy and Hemmes were also reportedly also eyeing off The Pacific Hotel last week, according to The Herald Sun last month

Still up for grabs? Laundy and Hemmes were also reportedly also eyeing off The Pacific Hotel last week, according to The Herald Sun last month 

It’s not the first time Laundy and Hemmes have been locked in a bidding war, as it’s understood the pair recently battled over Chris Hemsworth’s local watering hole The Lennox Hotel in nearby Lennox Head.

Bachelorette star Laundy, in partnership with hotelier Fraser Short, purchased The Lennox Hotel with an offer of close to $40million.  

In August last year, Laundy and Fraser confirmed they had also bought Byron Bay’s trendy venue The Farm for $16 million.

Laundy, who appeared on Channel 10’s The Bachelorette in 2017, has a share of his family’s $500 million fortune. 

Cha-ching! Laundy, who appeared on Channel 10's The Bachelorette in 2017, has a share of his family's $500 million fortune

Cha-ching! Laundy, who appeared on Channel 10’s The Bachelorette in 2017, has a share of his family’s $500 million fortune 

Meanwhile, Hemmes and his family’s empire is believed to be worth around $1.06 billion.  

His property portfolio includes the Beresford Hotel in Surry Hills which he bought in 2010, the Queen Victoria Hotel in Enmore in 2015 and Bondi’s Royal Hotel in 2017. 

It was also recently revealed that he bought his ex Kate Fowler a $7.5 million mansion in one of Sydney’s most exclusive suburbs.

Fortune: Meanwhile, Hemmes and his family's empire is believed to be worth around $1.06 billion

Fortune: Meanwhile, Hemmes and his family’s empire is believed to be worth around $1.06 billion