Okay, so if you did a Venn diagram of readers of The BRAG and those who enjoy sipping $22 cocktails by the Ivy Pool, the two circles would be so far apart you’ll need a satellite to fit them both in the same frame.
Nevertheless, it is still somewhat upsetting to hear that The Ivy is going to be demolished, and replaced with a 55-storey hotel.
According to Sydney’s number one pub, club, and hotel buyer/renovator/tiki-motif-purveyor Justin Hemmes, this was always his masterplan upon buying the place in 2004.
“I always intended it to be a holding development site,” Hemmes told news.com.au. “It is just a fantastic site.”
It certainly is, especially considering the plans to split Sydney into three smaller cities and move much commerce and government away from the harbour could impact its worth as a club in the long term.
“It’s got so much potential, there are so many options available to us and it’s something I want to do properly so we’ll be taking our time.”
Hemmes has already made a pretty penny on the purchase. He bought it for $22 million in 2004, and recent estimates value it at $65 million – with that figure likely to skyrocket should this development be approved, which it will, ‘cos Sydney bloody loves high-rise developments, and HATES nightlife.
Luckily for patrons, these plans are far in the future. A spokesperson from Merivale contacted us this morning with the following statement:
“We can confirm that Merivale is currently exploring ideas for the long-term future of the ivy precinct, with a number of options being considered including a new hotel, hospitality and lifestyle complex.
“However, if the project proceeds, it is still many years away and discussions to date have only been preliminary. No final plans have been decided nor time-lines set, and there are certainly no immediate plans to commence redevelopment of the site.
“ivy continues to operate “business as usual” and we look forward to welcoming guests for years to come.”
Until then, let’s listen to DJ Havana Brown.
https://www.youtube.com/watch?v=D4VZgbMmlKY
