Merivale acquisition strenghtens its plans for mixed use hotel development
The acquisition extends the George Street frontage of Merivale’s Ivy bar site by 23 metres and will also likely alter redevelopment plans for a 55-storey international hotel and lifestyle complex that Hemmes’ flagged earlier this year.
Speaking to The Sydney Morning Herald, Hemmes said that it was always his intention to redevelop the Ivy site with “an office tower and maybe a hotel”.
“It’s on the cards. The redevelopment and upgrade of George Street, Sydney is a major opportunity and we will work to get investors and developers on board,” he said.