Justin Hemmes expands Marrickville pub footprint
Justin Hemmes has picked up a service station on 840 square metres, next door to his company’s The Vic on the Park Hotel, which he bought for $22 million in 2017.
The new property, 379 Enmore Road, Marrickville, is setting the publican back $10.15m.
The Hatzivasiliou family, which operates the Metro Petroleum outlet on the block, has owned it since 2001.
Longer term, the property is expected to be razed as part of a pub extension, but this couldn’t be confirmed.
Buildings up to about 14 levels could be considered, given planning guidelines introduced about five years ago.
A five storey mixed use complex is diagonally adjacent to it, on Addison Rd.
Marrickville is seven kilometres south west of Sydney.
Expanding footprint
Mr Hemmes’ Merivale is also understood to have brokered the purchase of 379 Enmore Rd direct.
The businessman acquired The Vic from the Australian Pub Fund, directed by ex-Qantas chief executive officer Geoff Dixon, advertising guru John Singleton and asset manager, Mark Carnegie (story continues below).
With a 3am liquor licence, it has 25 electronic gambling machine entitlements.
On 1247 sqm, it was also promoted for its development upside.
The decision to extend the holding with the servo – which abuts The Vic’s beer garden – comes two years since Merivale paid The Good Beer Co $32m for Randwick’s Duke of Gloucester.
Elsewhere in the inner city, Merivale owns the Royal Hotel Bondi, Coogee Pavilion and Woollahra’s Hotel Centennial.
In a landmark deal in May, it outlaid $200m for an amalgamation of historic Sydney CBD buildings, 71-73 York Street and 104-118 Clarence, with plans for a hospitality-based mixed-use precinct.
All up covering 2143 sqm, that property was recently the subject of a 49 level office proposal.
It is believed Mr Hemmes will incorporate unique commercial spaces as part of the redesign.
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