The building iconic Melbourne club Revolver Upstairs is in is up for sale

In concerning news, the building housing Melbourne institution Revolver is up for sale. With a sale expected of over $20million, the Chapel St building in Prahan has just been relisted after a period seeking expressions of interest prior to the full outbreak of COVID-19.

The news, which was initially broken by Cyclone Wehner on Twitter late last night, has sent shockwaves through the Australian music industry with the listing being kept very quiet indeed until now. According to NewsCorp, "Cushman & Wakefield director Marcus Neill said he could not comment on the lease terms with tenants Revolver Upstairs and Revolver Lane, which occupy 229 Chapel St and the rear building at 24 Macquarie St."

Mr Neill said, "But there is a long lease in place …. the tenants plan to remain and look forward to reopening once restrictions are lifted."

In March, Australian Property Journal covered the EOI for the building and said Mr Neill confirmed "both Revolver Lane and Revolver Upstairs will operate through their respective lease terms."

"“Prahran is considered the most active and vibrant entertainment precinct in Melbourne and the long running success of one of Australia’s most well-known nightclubs is testament to its enduring presence."

The news.com.au story also noted, "A leasehold for The Gasometer Hotel in Collingwood is also on the market."

This news comes after Sydney institution Cafe Lounge announced they closed their doors for the final time and were closing up shop for good after a 20-year stint.

The Herald Sun has reached out to Revolver Upstairs for comment.

Words by Emma Jones

Image via Beat

LISTEN TO NEW MUSIC HERE

SEE ALSO

SYDNEY VENUE CAFE LOUNGE ANNOUNCES CLOSURE AFTER 20 YEARS