Justin Hemmes is set to become a father again as it has been revealed that he is expecting a baby with girlfriend Madeline Holtznagel.

The Merivale billionaire, 52, and his girlfriend, 27, are in the early stages of pregnancy and have already told their families and friends about their happy baby news.

Justin already shares two daughters Alexa, six, and Saachi, five, with his model ex Kate Fowler – sister of Georgia Fowler – while it will be Madeline’s first child.

Sources close to the couple confirmed the exciting news with Daily Mail Australia, and they are said to be “over the moon” about their growing family.

Daily Mail Australia has contacted Justin and Madeline’s representatives for comment.

Madeline is the younger sister of Australian model Simone Holtznagel, who welcomed her first child, a daughter named Gia, in March with now-ex-boyfriend Jono Castano.

Justin Hemmes is to become a father again as he is expecting a baby with girlfriend Madeline Holtznagel (both pictured), it has been revealed

Madeline was last seen in public on November 10 as she strolled through Sydney Airport with Justin, just 12 days before their happy baby news was announced.

Justin and Madeline were last seen together earlier this month, when they returned to Sydney after spending the weekend with Justin’s two daughters.

Madeline wore an oversized T-shirt as she strolled through Sydney Airport’s private jet terminal with a big smile on her face, just 12 days before their baby news was announced.

And in his first sighting since the family news, hotelier Justin appeared to be in good spirits as he was spotted out on a bike ride in Sydney on Friday morning.

Flashing a smile as he cycled through the suburbs, the businessman cut a smart figure in a white shirt and cream linen trousers.

Keeping himself comfortable in a pair of gray sneakers, he put safety first as he wore a black helmet during his leisurely bike ride in the sunshine.

Justin and Madeline quietly began seeing each other in 2019, a year after he debuted on the Financial Review Rich List with an estimated net worth of $951 million — which has since risen to $1.39 billion.

Although they generally keep their romance under wraps, the pair are often seen stepping off his seaplane after their luxury family vacation with their two daughters.

In August, Madeline also made a rare public post about Justin when she took to Instagram to share a gallery of photos to mark his 52nd birthday.

Sources close to the couple confirmed the exciting news with Daily Mail Australia, and they are said to be ‘over the moon’ about their growing family

In his first sighting since the news broke, hotelier Justin appeared to be in good spirits as he was spotted out on a bike ride in Sydney on Friday morning

The businessman flashed a smile as he cycled through the suburbs, cutting a smart figure in a white shirt and cream tank top trousers

Keeping himself comfortable in a pair of gray sneakers, he put safety first as he wore a black helmet during his leisurely bike ride in the sunshine

She shared a series of romantic photos of the both of them and gushed over her partner in a sweet caption.

In one adorable picture, Madeline flashed a big smile as she sat on Justin’s lap as he looked lovingly at her.

Another romantic picture showed the pair cuddling up to each other as they relaxed on a yacht.

Madeline wasn’t afraid to show the couple’s playful side, sharing a third picture which showed the couple hamming it up for the camera in tennis outfits.

“Happy birthday my love,” she wrote in a caption along with a rose emoji.

Earlier this year, Madeleine celebrated her 27th birthday with a lavish party at Justin’s sprawling Vaucluse estate.

After the festivities, Madeline revealed on Instagram that her loving partner had also bought her two llamas as a token of his love.

The pair have gone from strength to strength since going public in 2019 and even sparked engagement rumors last June.

Justin and Madeline quietly began seeing each other in 2019, a year after his debut on the Financial Review Rich List, and have gone from strength to strength ever since

The couple sparked engagement rumors last June when eagle-eyed fans spotted Madeline wearing a ring on her wedding finger during a trip to Japan (pictured)

Eagle-eyed fans noticed Madeline was wearing a ring on her wedding finger as they questioned whether Justin had popped the question.

One picture showed her wearing the jewelery as she snuggled up to Justin as they enjoyed a bowl of Udon noodles together at a restaurant in Japan.

But the bling appeared to be a turquoise dress ring, and another photograph showed her wearing another ring on the same finger as she posed for a selfie.

Justin was previously in a relationship with Kate Fowler and the pair remain on good terms and often go on holiday with their daughters Alexa and Saachi.

Just last month, Justin and Madeline were joined by Kate and her new boyfriend David Oettlé when they took Alexa and Saachi to Queenstown, New Zelanad.

Justin and Kate dated for three years before going their separate ways in early 2018, and Justin released a statement about their split at the time.

“Kate and I have the utmost love and respect for each other,” he said in a statement to the Sydney Morning Herald.

“At the beginning of 2018, Kate and I decided that our friendship and respect for family life would become the focus of our relationship.

Madeline is the younger sister of Australian model Simone Holtznagel (pictured), who welcomed her first child, a daughter named Gia, in March with now-ex-boyfriend Jono Castano

Justin was previously in a relationship with Kate Fowler (pictured in January) and the pair are still on good terms and often jet off on getaways with their two daughters

“We love our children dearly and for now we continue to live happily together in our family home.”

“Kate is a wonderful, wonderful, wonderful woman. What the future holds I’m not sure,” he added.

Justin is considered Australia’s hospitality king with more than 80 venues and billions in assets with names such as Ivy, Queen Chow and Establishment during his tenure as CEO of Merivale.

He is the only son of Merivale Group founder and nightclub mogul John Hemmes and Justin took over the business following his father’s death in 2015.