Big announcements from Merivale are nothing new. The juggernaut hospitality group has been dominating Sydney for very a long time, opening institution after institution from Enmore’s Queens Hotel to Coogee’s Coogee Pavilion. Though nothing has been anywhere near as successful and internationally renowned as ivy, Sydney’s most divisive party spot that remains highly sought after by the elite and wannabe-elite alike. Well, lovers of the unique complex should make the most of it while they can as Justin Hemmes has now confirmed that ivy may be demolished in the future, to be replaced by a 55-storey international hotel.
Speaking to the Daily Telegraph, Hemmes confirmed plans as the end-game for his intentions when he first purchased the site for $22 million in 2004. The 3000 sqm block, which is now worth approximately $65 million, is diverse enough for a wide range of development options although the hotel route seems the most likely.
Citing his conscious decision to keep ivy as a low-rise development, Hemmes said that he never intended the iconic club spot to remain open for more than 10 years, but incredible success has kept the spot thriving for much longer than he expected.
While details are scarce on any final decisions or dates, Hemmes has told the Daily Telegraph that design planning has begun and that all options are being considered.
The official statement from Merivale indicates that these are long-term plans, with a number of options being considered including a new hotel, hospitality and lifestyle comnplex. If the project does go forward it will be many years down the track as discussions are still in the very early stages.
“ivy continues to operate ‘business as usual’ and we look forward to welcome guests for many years to come”, read the statement. “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”.