Bar baron Justin Hemmes has dropped $17 million on a two-bedroom waterfront house smashing the record for waterfront properties in Byron Bay.
Set on a 1922 square-metre block facing Belongil Beach, the resort-style property has stunning ocean views with floor-to-ceiling glass and a large living, dining and outdoor entertaining area.
- READ ALSO: Millennials use social media to take a light-hearted look at the difficulty of buying a home
Despite the 20 Childe Street property having had significant upgrades, its original 129 square metres footprint wasn't expanded by its previous owner, Stephen Haines, who purchased it in 2012 for $2.77 million.
The off-market sale was handled by Sydney Sotheby's International Realty's agent James McCowan.
It comes at a good time for the company which only recently opened an office in Byron Bay.
According to Mr McCowan the top-dollar sale is indicative of what the company plans to do in the Byron Bay market.
He said based on the caliber of the underbidders on this property, the area has lost none of its appeal as a celebrity hotspot.
In fact he doesn't expect the record to stand for long with a soon-to-listed brand new house at Wategos Beach to "definitely challenge the record".
"Byron Bay has an interesting mix of lifestyles," he said.
"It's very laid back and relaxed whilst having all of the benefits of Sydney in one place."
Standout features in the home include a gourmet Caesarstone kitchen with a large island bench, an entertainers' deck and private garden.
The two bedrooms have built-in wardrobes and the master has access to a private courtyard.
There's also a covered carport and large storage room or workshop.
The property, built in 1962, is walking distance to Wategos Beach and the heart of Byron Bay.
Mr Hemmes' company Merivale already has a stake in the Byron Bay market having purchased the former Cheeky Monkey's bar in March 2021 for $11.5 million.
According to CoreLogic the median price of a house in Byron Bay is $3.125 million.
