Hospitality powerhouse Merivale has confirmed the group has no immediate plans to demolish Ivy and replace it with a 55-storey hotel as reported by The Daily Telegraph.
Merivale issued a statement confirming the group is exploring potential options, but have not commenced any action concerning the redevelopment of the site. Ivy will continue to operate business as usual for “years to come”.
“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,” says a Merivale spokesperson.
“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.”