Stu Laundy and Justin Hemmes are 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.
According to The Herald Sun, the picturesque cliffside hotel – which hasn’t changed hands in over four decades – is reportedly looking for an asking price of close to $50million, and has peaked the interest of both parties.
It wouldn’t be the first bidding war for the duo, as it’s understood the pair recently battled over Chris Hemsworth‘s local watering hole The Lennox Hotel in nearby Lennox Head.
Byron Battle: Stu Laundy (left) and Justin Hemmes (right) are 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
Up for grabs: According to The Herald Sun, the Pacific Hotel – which hasn’t changed hands in over four decades – is reportedly looking for an asking price of close to $50million, and has peaked the interest of both parties
Bachelorette star Stu, in partnership with hotelier Fraser Short, purchased The Lennox Hotel with an offer of close to $40million.
The Pacific Hotel would certainly be an impressive addition to either of the moguls’ bustling property portfolios.
With Byron Bay becoming a hot spot for celebrities in recent years, nearby Yamba is often frequented by A-list visitors and locals.
The hotel itself enjoys breathtaking 360 degree views, and is just 200m away from the iconic Yamba lighthouse.
It also features a pub, a Bistro and a recently million-dollar renovated northern wing with luxurious king and queen suites with balconies overlooking the ocean.
Back in 1990, the hotel changed hands for only $2.45 million.
Delightful: The Pacific Hotel itself enjoys breathtaking 360 degree views, and is just 200m away from the iconic Yamba lighthouse
Iconic: There’s a bar, Bistro and a recently million-dollar renovated northern wing with luxurious king and queen suites with balconies overlooking the ocean
How times have changed! Back in 1990, the hotel changed hands for only $2.45 million
It comes just days after Stu – whose family hotel and pub empire is worth a whopping $500 million – and local hotelier Fraser Short were named the new owners of he Lennox Hotel.
The hotel has uninterrupted ocean views along Seven Mile Beach, and over two separate levels has a bistro, restaurant and bottle shop.
It’s the first time in 16 years the pub has changed ownership as it was previously bought by local brothers Greg and Clyde Campbell in 2005 from developer Chris Condon for $14 million.
The quaint pub is so popular, in fact, that Hollywood actors and Byron Bay locals Chris and Liam Hemsworth are said to be among the famous regulars.
Snapped up: Just last week, Stu – whose family hotel and pub empire is worth a whopping $500 million – and local hotelier Fraser Short were named the new owners of the Lennox Hotel
Celebrity hot spot: The venue is often frequented by A-list visitors and locals, inducing actors and Byron Bay locals Liam (left) and Chris Hemsworth (right). Pictured with brother Luke
Chris, 36, lives in a $30 million mansion in Broken Head, which is approximately 10km north of (or a 15 minute drive from) Lennox Head.
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.
Meanwhile, Justin and his family’s empire is believed to be worth around $1.06billion.
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.
Building the empire: In August last year, Laundy and Fraser confirmed they had also bought Byron Bay’s trendy venue The Farm (pictured) for $16 million
