Jon Adgemis’ Paddington pub housing El Primo Sanchez up for sale

One of embattled publican Jon Adgemis’ lenders, Australia Pacific Mortgage Fund, has listed for sale one of his hospitality group’s flagship venues, the home of the El Primo Sanchez bar in Sydney’s eastern suburbs.

The move follows a complex refinancing effort of Mr Adgemis’ Public Hospitality empire involving Deutsche Bank, US private credit group Muzinich and Archibald Capital’s Ben Madsen. Some lenders opted not to be part of that deal, instead moving to take control of assets they had security over.