Justin Hemmes digs deep for beachfront Byron Bay shack
Justin Hemmes is speculated to be paying over $17 million for a classic beach shack at Byron Bay.
On 1922 square metres at 20 Childe Street, Belongil Beach, the single storey, two bedroom dwelling was offloaded by Melbourne’s Hains family which outlaid $2.77m in late 2012 then renovated.
The property was touted off-market; the representative was Stephen Hains, the son of billionaire businessman David, who died in January.
The agent, Sotheby’s International Realty’s James McCown, declined to comment.
The deal came a week after an as yet undisclosed buyer outlaid c$22.5 million for 19 Marine Parade overlooking Wategos Beach.
On 790 sqm, east of the township, that property holds the region’s record land rate – $28,481 per sqm.
It is speculated another Wategos Beach precinct home is set to hit the market soon with a $30m-plus guide.
Record price
The Childe St deal sets record for a Belongil Beach waterfront site – $8,844 per sqm (story continues below).
Elsewhere in the area, in 2019, Delvene Delaney and late husband John Cornell – who played a vital role in raising Byron Bay’s profile decades ago – sold down the final piece of a 9300 sqm block in the pocket which they bought from property developer Peter Kurts for $375,000 in 1987.
The biggest of those parcels was purchased by retailer Gerry Harvey for c$10m in 2015.
Meanwhile last August, mining executive Brian Flannery and his wife, Peggy, listed a 39.75 hectare Belongil Beach North holding with c$160-$180m price hopes.
In a show of how fast Byron Bay values have moved, those vendors paid $18.5m in 2010.
The Childe St purchase comes two years since Justin Hemmes’ Merivale outlaid $13.5m for the town’s Cheeky Monkey’s bar and an adjoining retail property, with plans for a high-end hospitality venue.
Mr Hemmes also controls a far south coast NSW holiday home, Glasshouse Rocks, at Narooma, which cost $7.5m in 2015.
The publican owns four venues there too including the Lynch’s Hotel – speculated to have cost $6m last March – and the Whale Inn, acquired in mid-2021 and repositioned as a paddock-to-plate bistro.
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