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Written by Marc Pallisco
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Monday, 31 May 2010 09:40 |
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 TWENTY years after music promoter Glenn Wheatley, and his brother-in-law, former Richmond Football Club president Clinton Casey sold the then-iconic Ivy nightclub at a loss, the red-brick Flinders Lane building has been offloaded, again.
The 145 Flinders Lane building which was first put to the marketing during the economic downturn last year, sold to a private investor for a speculated $8 million.
It’s speculated the new owner will extend the building, and subdivide it into apartments, but this could not be confirmed.
DTZ directors Patrick O’Callaghan and Russell Hannan marketed the building but declined to comment on any part of a deal when contacted by Capital Gain.
According to CityScope, Glenn Wheatley and Clinton Casey paid $4 million for the nightclub, before undertaking a $3 million renovation.
After an economic downturn the site eventually sold in April 1991 for a little over $2 million, and has been onsold since.
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