Justin Hemmes splashes out $17million for beachfront Byron Bay pad

Billionaire Justin Hemmes has splashed out a record-breaking $17million for a beachfront Byron Bay pad. 

The Sydney pub baron, 50, bought the two-bedroom property at Byron Bay’s Belongil Beach in an off-market sale, The Sydney Morning Herald reported.

It was previously owned by Stephen Hains, the son of billionaire businessman and horse breeder David Hains. 

Sydney billionaire Justin Hemmes, 50, has splashed out a record-breaking $17 million for beachfront Byron Bay pad according to a report in Sydney Morning Herald. Pictured with girlfriend Madeline Holtznagel in December, 2022

Hains purchased the property via a trust in 2012 for $2.77million and used it as a holiday getaway. 

According to the listing, the property is ‘intuitively designed to capture magnificent ocean views from every angle’.

The two-bathroom shack sits on 1922sqm of land and features an easy care layout with generous living, dining and entertainment spaces. 

According to the listing, the property is ‘intuitively designed to capture magnificent ocean views from every angle’ 

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The two-bathroom shack sits on 1922sqm of land and features an easy care layout with generous living, dining and entertainment spaces 

It was previously owned by Stephen Hains, who is the son of billionaire businessman and horse breeder David Hains 

It comes after Hemmes sold his stunning Pittwater home for $5.5million in December, 2021. 

Hemmes acquired the home just five years earlier, when he purchased the nearby Newport Arms, a historic hotel located on the shores of Pittwater. 

The chic weekender featured three bedrooms and a large open-plan living area, perfectly suited for entertaining. 

Hains purchased the property via a trust in 2012 for $2.77million and used it as a holiday getaway

Hemmes originally purchased the home for $2.75million from theatre production designer Laurence Eastwood and his wife, Deborah.  

Hemmes made his debut on the Financial Review Rich List in 2018 with an estimated net worth of $951million.

Last year, his net worth grew to $1.2billion, making him the 97th richest person in Australia.

The billionaire is currently dating model Madeline Holtznagel. 

The billionaire is currently dating model, Madeline Holtznagel (pictured together)