Jon Adgemis struggles to find buyer for exclusive Eastern Suburbs home

Troubled pub baron Jon Adgemis has been hit with a fresh blow as he attempts to dig himself out of a $1.8bn financial black hole. Picture: NCA NewsWire / David Swift

The Rose Bay investment home of the family of embattled hospitality entrepreneur Jon Adgemis remains on the market.

An expressions of interest mortgagee in possession campaign ended on Thursday, with the marketing campaign advising an offer could be accepted beforehand.

There was no public guide issued on for the six-bedroom, five-bathroom house bought by the Public Hospitality Group founder and his mother, Rose, for $4.45m in 2018.

The 556sq m property has zoning allowing for apartment complexes of up to six storeys.

The potential windfall will only make a small dent on Jon Adgemis’s debts that sit at more than $1.8bn.

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The Adgemis family home at Rose Bay remains for sale. Picture: realestate.com.au

There are two registered mortgages on the title along with nine caveats, mostly from hospitality trade creditors which relate only to the half interest held by Jon, not his mother.

The caveats include one from March last year from the NSW Chief Commissioner of State Revenue, who seeks unpaid land tax.

It is unrelated to the land tax matter involving the Point Piper harbour front that Adgemis recently vacated for Bondi Beach.

Jerry Liu, his former Point Piper landlord, is being pursued by State Revenue. The tax matter has been listed by the NSW Civil and Administrative Tribunal for a three-day hearing next February.

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Jon Adgemis. Picture: Luis Enrique Ascui

News Corp broke the news in July that the five-bedroom home at 2A Conway Ave had signs on the door saying “the mortgagee is in possession of this property” and that Fred Small and Steven Zoellner of Laing and Simmons Double Bay had been appointed to sell it. Reports had emerged in late May that the former KPMG dealmaker had mortgaged the property behind his mother’s back.

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