Jon Adgemis mother's house repossessed, prepared for sale
The six-bedroom home on a 567sqm block at 2A Conway Ave, where Mr Adgemis's mother and grandson had been living, now has signs on the doors saying 'the mortgagee is in possession of this property'.
The note advises that the 'mortagee has secured all doors and windows and will prosecute you if you trespass upon or in the property'.
There are padlocks on the gates, the property has been emptied of furniture and TVs have been pulled from the walls.
The Daily Telegraph reported last month that Mr Adgemis's Public Hospitality Group has a whopping $500m in debts.
A call around of eastern suburbs agents has revealed that Fred Small of Laing and Simmons Double Bay has been appointed to sell it, and the property is now being prepared for sale.
Mr Small has been approached for comment.
Reports emerged in late May in the Australian Financial Review alleging that the former KPMG dealmaker mortgaged the property behind his mother's back.
Mr Adgemis's mother had been in the Supreme Court trying to keep the property, as La Trobe Financial sought to claim it as part of efforts to recoup $6.2m that Adgemis borrowed to finance his business.
The Supreme Court heard that his mother 'does not recall and has no record of ever receiving' any legal documents.
It was also alleged that the mortgage was taken without her knowledge or authority.
La Trobe had applied to the court to repossess the Rose Bay house, that last traded for $4.45m in 2018.
Double Bay agents estimate the property would now be worth between $7m and $8m.
The land title includes a long list of caveats from creditors, including the chief commissioner of state revenue.
The hospitality boss has been battling to keep his faltering hospitality empire — which included Oxford House, pubs The Lady Hampshire and the Camelia Grove and Noahs Backpackers — out of the hands of liquidators as he faced hundres of millions of dollars in debt.
Mr Adgemis now lives in a Bondi apartment owned by billionaire fund manager Will Vicars, having moved out of the Point Piper 'Bang & Olufsen' waterfront house owned by Jerry Yafu Qiu, in exchange for property maintenance.
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Co-founder of Box Divvy, Anton van den Berg, explains that every week, the group puts in an order. Not everyone will get the exact food they want as orders are usually the result of a group consensus. But, for example, if enough people request bok choy, then bok choy gets ordered. The idea is about ordering produce in bulk and reaping the savings that result. A bulk delivery is sent to the hub, which is managed by someone in their neighbourhood who gets paid for their time and effort. Members then help to divide the produce up. 'On average, our food is cheaper than what's available in the supermarket," says van den Berg. Our apples are typically under $4 a kilo compared with $6 a kilo in supermarkets. Our oranges are $2 a kilo versus $5 a kilo. 'But it doesn't mean we are the cheapest on everything. Supermarkets tend to mark specific [singular] foods down like strawberries because that one item gets people through the door. On the other hand, [although our price of strawberries might be the same as a supermarket], our ones are better quality.' Two of three co-founders of Box Divvy: Jayne Travers-Drapes and Anton van den Berg. Van den Berg says that members can typically save around 30 percent, on average, across their total produce bill compared to supermarkets. 'We're also paying farmers up to 60 cents in the dollar for their produce. We believe that's sometimes double compared to what the supermarkets pay many farmers.' The kind of produce offered is also culturally diverse, reflecting consumer demand and the multicultural makeup of farmers. 'We usually offer a broad range of European, Arabic and Asian ingredients, which covers a lot of what many people tend to cook.' Cost and community benefits Box Divvy's efficiency lies in its streamlined logistics. Instead of packing individual orders, produce arrives in bulk and is divvied on-site. Beyond making food shopping cheaper however, Box Divvy is also creating community. 'Members say their social circles have expanded after joining a hub as they get to meet their neighbours and exchange recipes. It's said that most people join for the low price of quality produce and they stay for the food community.' The model also offers some health benefits. Research from Western Sydney University found absolute increases in the number of fruit and vegetable serves eaten per person, after joining Box Divvy. 'The percentage increase across all groups was around 30 per cent but much higher among those who were very food insecure. That's huge for household nutrition and long-term health.' Alternative solutions for the cost of living crisis Another supermarket alternative is a produce box. With this model, consumers go online to order a box full of fruits, vegetables and even meat individually from an organisation that works directly with farmers. Farmers Pick is one example of such a model. Boxes often utilise excess produce that supermarkets reject due to appearance, although they are of great quality. On their website, they state that their produce boxes are up to 30 per cent cheaper than the supermarkets. There's also the Sydney-based Organic Buyers Group , which was started in Randwick over 20 years ago by Danielle Northey. 'We're just a group of residents buying fresh organic produce direct from a wholesaler every week,' Northey explains. Operating from community halls and urban farms like Pocket City Farms, the group uses bulk ordering to bring down the cost of certified organic fruit and vegetables. Through membership, people gain access to organic fruit and vegetables without having to pay an additional mark-up for organic food. "We can absolutely guarantee that our organic food is the same price as buying non-organic fresh fruits and vegetables at the supermarket." The process is low-tech. Members pre-order and when the produce arrives, they help divvy it into baskets. Kids join in. Recipes are swapped. 'It's community-building at its finest. Everyone contributes a little bit in ordering or packing, so no one person gets burnt out. Northey estimates the price differentiation between organic food and non-organic may be around 20-60 per cent. "We do our price checks to make sure that we can deliver organic food, at non-organic prices. In doing so, we always come in at the same cost or slightly under the cost of non-organic fruit and vege from the supermarket. 'We're making organic accessible, without the plastic, the markup, or the food miles.' The food is not about perfect customisation. 'You get what you get – fresh and good value – and you don't get upset. Maybe one week you get bok choy instead of kale because that's what's available. This model of buying suits people who are flexible, adventurous in the kitchen, and excited to eat what's in season. One week, Northey got fresh fennel in her box — something she'd never buy herself. 'Another member suggested making fennel frond pesto. It was delicious, and my teenage kids loved it. There are also many people, especially those living in share houses, who often band together with neighbours and friends informally to take turns to do their produce shopping in bulk at Paddy's Markets in Flemington, which ends up not only saving money, but also time – as each person or household would only need to go do the shopping once every few weeks. It suits people who are flexible, adventurous in the kitchen, and excited to eat what's in season. 'Why battle crowded aisles and inflated prices when you could do your shop with friendly faces, fresh produce, and a sense of purpose?,' Northey asks. So next time you get bill shock at your local supermarket with organic or non-organic produce, just remember there may be other ways to shop. All you have to do is think alternatively and look around for a food group in your area.
