Justin Hemmes has confirmed he and the Merivale Group have paused progress on The Ivy’s slated redevelopment.
The hospitality group were confirmed to be purchasing a number of properties in close proximity to the George Street nightclub in preparation for a $1.5 billion redevelopment, which would’ve included an office, hotel and entertainment precinct.
When quizzed by The Australian as to whether plans are in place to press ahead with the development, Hemmes remarks “not at this stage.”
A previous interview with The Sydney Morning Herald from 2022 indicates Hemmes’ previous position on the George Street institution.
“Ivy was always bought as a development site, and the building that we put there was always a holding site,” he says.
“The time is right to do a redevelopment that speaks to George Street and reimagines how people work, connect and socialise in the city. We have to create amazing spaces in the city to encourage people back into the city. We have to reimagine how they work, what a workplace looks like, and blur the lines between the workplace and social space and the public space.”
