Iconic Melbourne nightclub for sale again
Prahran’s historic ‘Revolver building’ is for sale again.
Developed in 1914, part of Chapel Street’s Colosseum complex – the four level asset and an office behind, 24 Macquarie Street, is being offered by a consortium including Camillo and Monika Ippoliti and lawyer Kurt Falkenstein.
All up the lettable area is c2730 sqm.
The improvements are connected.
Also facing St Matthews Way, the site spreads 1287 sqm zoned Activity Centre.
The properties failed to sell in February, 2020 – just before the country entered lockdown – and after a campaign relaunch three months later.
The guide then was over $20 million.
Revolver
Thai musician Tan Punturaumporn with local Gordon Blake launched Revolver Music Gallery on the ground floor at 229-231 Chapel St in early 1993 then extended with an upper level lounge bar.
Four years later, with Camillo Ippoliti, part of the building was converted to Revolver nightclub. The interior includes seven original Banksy stencils – not mentioned in marketing material as part of the sale.
Rare in Melbourne, having a 24-hour liquor licence, it was famous for its multi-day benders.
Other tenants include Colonel Tan’s Thai restaurant and, since 2012, co-work outfit, Revolver Lane, which accommodates some 30 tenants.
There is also a large apartment.
Christie’s International’s Sean Cussell with JLL’s Josh Rutman, Jesse Radisich and Will Connolly are the agents.
It will be auctioned onsite in five weeks.
The Ippolitis are also behind Toff in Town and Inflation.
The pair recently sold their long-time family home, the ex-Leitrim Hotel, in the city, for $4.55m, it is speculated ahead of a move to Byron Bay.
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