229 Chapel Street – the building that houses iconic Melbourne nightclub Revolver Upstairs – is up for sale.
If you’ve got some spare cash, the owners reportedly seeking a cool $20 million for the building, which also contains a Thai restaurant called Colonel Tan, plus a co-working space Revolver Lane.
The good news is that Revolver Upstairs isn’t about to close anytime soon, with the agent and vendor both telling news.com.au that the nightclub is a “long-term” tennant, believed to be on a 10-year deal.
Marcus Neill, of real estate agents Cushman & Wakefield, confirmed that tenants including Reolver “plan to remain and look forward to reopening once restrictions are lifted.”
The listing for the property appears on Real Commercial, which caught the eye of fans of the night spot. Its operators put to bed any rumours that Revs might not reopen post-COVID-19 restrictions in a post to Facebook.
“You may have noticed our building, 229 Chapel St, is for sale. Don’t worry, Revs has a long lease in place. We aren’t going anywhere!”
https://www.facebook.com/revolverupstairs/photos/a.63033116389/10158179058111390/?type=3
“229 Chapel Street forms part of the four-level historic building known as the Colosseum which was originally built in 1914 and is being offered for sale for the first time since 1992,” reads the listing.
“The opportunity presents a compelling investment opportunity as well as multiple development or conversion options, ranging from boutique hotel, high end residential, hospitality and F&B or commercial office offering (STCA).”
Kurt Falkenstein, Revolver’s vendor who also runs Revolver Lane, added; “We wanted to make sure buyers understood that Revolver Upstairs is an important part of Melbourne’s identity and something we want to preserve and enhance.”
Check out Sunshine’s 15th-anniversary party at Revolver:
