Aspiring pub baron takes another tilt at former Adgemis venue

Businessman Tom Wallace is seeking $26.6 million to acquire and redevelop the former Jon Adgemis-owned Exchange Hotel in Darlinghurst after earlier attempts to buy four pubs out of receivership collapsed at an estimated cost of $8 million, with the latest $11 million transaction still conditional on the removal of a stop-work notice and requiring $8 million of equity plus debt funding.

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