Merivale has announced expansion in northern NSW with acquisition of the former Cheeky Monkey’s bar, and the adjoining massage spa.
The 827 sqm site at 115 Johnson St, Byron Bay, has traded in recent years as Cheeky Monkey’s under Red Rock Leisure, pitched largely to the thousands of young travellers passing through the town throughout the year.
But ‘Cheekys’ closed its doors in unison with the nation’s venues on 23 March 2020, and has not reopened.
Hemmes is reported to have paid around $13 million for the vacant bar and Thai Sabai (traditional Thai massage and foot spa) next door, around 700 metres south of Byron’s Main Beach.
The spiralling values of property in Byron – Australia’s real estate flavour of the month – has brought fierce competition for residential and commercial property.
The Byron LGA records a high outlet saturation, almost 250 per cent of the State average, with 95 total liquor licences. Yet, amongst these only four are hotels, three clubs and four bottleshops, with the vast majority made up by on-premises licences such as Cheeky’s, which has approval to trade until 2am.
Hemmes has been on a jaw-dropping spending spree, snapping up five new properties in the past two months. His first outside of Sydney came in late March, buying the Quarterdeck in the state’s south, then his first push beyond the border in April with acquisition of Melbourne’s Tomasetti House, and just last week simultaneously announcing purchase of Norton’s Irish Pub in Sydney’s Leichhardt and the Lorne Hotel, south of Melbourne.
Merivale takes the keys to Cheeky’s Friday, and while so far remaining tight-lipped on its plans in Byron Bay, reports the venue will reopen as a restaurant and bar later this year.
“I’ve been going to Byron since I was ten years old, so it has always been a place close to my heart,” says Justin Hemmes, Merivale CEO.
“I can’t wait to open our first venue on the north coast and spend more time in the area. There’s simply no place like it.”
