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Billionaire pub baron Justin Hemmes splashes out record-breaking $17million for two-bedroom beachfront ‘shack’ at Byron Bay
Billionaire Justin Hemmes has splashed out a record-breaking $17million for a beachfront Byron Bay pad.Â
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.Â
![Justin Hemmes splashes out million for beachfront Byron Bay pad Justin Hemmes splashes out million for beachfront Byron Bay pad](https://i.dailymail.co.uk/1s/2023/02/12/01/67589783-11740771-Sydney_billionaire_Justin_Hemmes_50_has_splashed_out_a_record_br-a-1_1676164776934.jpg)
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.Â
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.Â
![According to the listing, the property is 'intuitively designed to capture magnificent ocean views from every angle'](https://i.dailymail.co.uk/1s/2023/02/12/03/67589779-11740771-According_to_the_listing_the_property_is_intuitively_designed_to-a-1_1676170844698.jpg)
According to the listing, the property is ‘intuitively designed to capture magnificent ocean views from every angle’Â
![The two-bathroom shack sits on 1922sqm of land and features an easy care layout with generous living, dining and entertainment spaces](https://i.dailymail.co.uk/1s/2023/02/12/03/67589775-11740771-The_two_bathroom_shack_sits_on_1922sqm_of_land_and_features_an_e-a-3_1676170844791.jpg)
The two-bathroom shack sits on 1922sqm of land and features an easy care layout with generous living, dining and entertainment spacesÂ
![It was previously owned by Stephen Hains, who is the son of billionaire businessman and horse breeder David Hains](https://i.dailymail.co.uk/1s/2023/02/12/03/67589781-11740771-It_was_previously_owned_by_Stephen_Hains_who_is_the_son_of_billi-a-2_1676170844702.jpg)
It was previously owned by Stephen Hains, who is the son of billionaire businessman and horse breeder David HainsÂ
It comes after Hemmes sold his stunning Pittwater home for $5.5million in December, 2021.Â
Hemmes acquired the home just five years earlier, when he purchased the nearby Newport Arms, a historic hotel located on the shores of Pittwater.Â
The chic weekender featured three bedrooms and a large open-plan living area, perfectly suited for entertaining.Â
![Hains purchased the property via a trust in 2012 for $2.77million and used it as a holiday getaway](https://i.dailymail.co.uk/1s/2023/02/12/03/67589777-11740771-Hains_purchased_the_property_via_a_trust_in_2012_for_2_77million-a-4_1676170844792.jpg)
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. Â
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.Â
![The billionaire is currently dating model, Madeline Holtznagel (pictured together)](https://i.dailymail.co.uk/1s/2023/02/12/03/67399985-11740771-The_billionaire_is_currently_dating_model_Madeline_Holtznagel_pi-a-5_1676170844809.jpg)
The billionaire is currently dating model, Madeline Holtznagel (pictured together)Â
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