Merivale hotspot The Ivy has been one of the Sydney CBD’s most popular drinking dens opening its doors in 2007. But the multi-storey multi-purpose venue space, composed of a selection of restaurants, bars, clubs and event spaces is now drowning in rumours that it will shortly be replaced by a 55-storey international hotel.

The truth of the matter? The 3000 square meter block may in time come to be an accommodation option, but that won’t be for well into the future. And who can blame them, with the land valued at an estimated $65 million.

“We can confirm that Merivale is currently exploring ideas for the long-term future of the ivy precinct, with a number of options being considered including a new hotel, hospitality and lifestyle complex.

“However, if the project proceeds, it is still many years away and discussions to date have only been preliminary.  No final plans have been decided nor time-lines set, and there are certainly no immediate plans to commence redevelopment of the site,” explained Merivale in a statement.

“When ivy launched in 2007, it was arguably Australia’s most ambitious hospitality transformations. Eleven years on, ivy continues to be enormously successful and sets the benchmark for Sydney hospitality with its diverse portfolio of bars, hatted restaurants, event spaces and entertainment experiences. The Ivy continues to operate ‘business as usual’ and we look forward to welcoming guests for years to come.”