Following the news that Sydney nightspot ivy is being earmarked for a new development, venue owner Merivale has assured punters that there are currently “no immediate plans” to cease operations.
In a statement issued to inthemix, Merivale confirmed that they were “exploring ideas” for the future of the ivy complex, but the project is “still many years away”.
“A number of options being considered including a new hotel, hospitality and lifestyle complex,” a spokesperson for Merivale told inthemix. “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.”
On Sunday, Merivale owner Justin Hemmes told The Daily Telegraph that it was always his intention to redevelop the Sydney CBD site — which he purchased for $22 million in 2004. It’s now worth around $65 million.
“I always intended [ivy] to be a holding development site,” Hemmes said. “It is just a fantastic site. 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.”
“That was the reason I kept ivy as a low-rise development … so it could be knocked down eventually.”
Over the last decade the nightspot has become a staple of Sydney’s nightlife, and home to some of the biggest club brands in the world, including Pacha and Ministry of Sound — which only launched at the venue last June. Some of the world’s biggest DJs have delivered sets there, including Eric Prydz, A-Trak, Madeon, Martin Solveig, and Martin Garrix.