Collingwood's Vine Hotel up for sale after Adgemis empire's $1.8 billion collapse
The Vine Hotel, the last Melbourne property from the collapsed Public Hospitality Group, is being sold with expectations of around $4 million.
The Vine Hotel on Wellington Street in Collingwood is on the market as the final piece of Jon Adgemis' crashed hospitality empire. The 22-hotel portfolio has generated about $80 million from sales so far.
The Vine is currently vacant and covered in graffiti, but it sits on prime Collingwood real estate with three street frontages and 417 square metres of land. The location is next to a major apartment development and across from an office building.
Adgemis paid $4.75 million for the property in November 2021. He had planned to reopen it as a George Calombaris restaurant, but those plans never happened before the empire collapsed owing $1.8 billion.
Smaller venues are being snapped up by buyers betting on Collingwood's gentrification.
- $1.8 billion
- Total owed by empire
- $80 million
- Sales from 22 hotels
- $4.75 million
- Adgemis paid for property
- 417 square metres
- Vine land area
Why it mattersThe sale shows how valuable prime inner-city real estate is attracting buyers even when a business fails, potentially unlocking recovery value from the broader collapse.
AustraliaThe Vine Hotel's revival could help signal Collingwood's ongoing property recovery; the sale also reflects broader investor confidence in Melbourne's southern regions despite recent setbacks.
✓ Claims checked against the source. checked 1 h ago
Open this story in InSnip →
