Ivy nightclub sells again

Twenty years since music promoter Glenn Wheatley and then brother-in-law, Richmond Football Club president Clinton Casey sold the Ivy nightclub, it has traded again.

The 145 Flinders Lane property is speculated to have achieved about $8 million this time around following a campaign by DTZ’s Patrick O’Callaghan and Russell Hannan.

It is understood the incoming owners will extend and repurpose the red brick property as an apartment complex.

Mr Wheatley and Mr Casey spent $4m on the club and $3m on a renovation before selling it in April 1991 – a major downturn – for just over $2m.

It has sold other times since.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.