Revolver building up for sale but famed nightclub here to stay for ‘foreseeable future’

The historic building housing the famed Revolver nightclub is up for sale, but agents say the Chapel Street venue is likely to continue operating as a nightclub for years to come.

The building that houses “Revs”, which opened in 1997 and has hosted acts such as Snoop Dogg, Fatboy Slim, Fred Again and the Presets, is expected to fetch about $15 million.

The club has a two-year lease with the option for a further three-year lease extension. Due to the rare and valuable 24-hour liquor licence for the venue, the real estate agents managing the sale think it is likely it will continue as a nightclub for the foreseeable future despite the sale.

The Revolver building spans 1287 square metres at 229-231 Chapel Street, Prahran, and houses more than 30 commercial tenants, including Revolver Upstairs and Colonel Tan’s Thai restaurant. The club and the restaurant have been operating since 1997.

Included in the sale is a large loft above the nightclub with towering nine-metre ceilings that offers views over the city and Chapel Street.

The loft was the long-time home and studio of Thai-born Tan Punturaumporn, who opened Revolver alongside Camillo Ippoliti and whose return to Thailand is prompting the building’s auction.

Building manager Kurt Falkenstein said many people had a connection to Revolver.

“Everyone’s got their Revolver story, particularly in Melbourne and wider further afield again, and I think that’s what makes it special,” he said. “It’s a place of shared history for hundreds of thousands of people and that’s something people can enjoy.”

His favourite Revolver story came about when he was chatting to Scottish DJ Denis Sulta at a gig in Melbourne.

“He proudly showed me his Revs tattoo that he’d obtained after his first visit there, spending a little more than 40 hours there in one weekend,” Falkenstein said. “When you’ve got a world-recognised DJ getting the name tattooed on himself after a good weekend, I think that really speaks volumes.”

Falkenstein said the sale was due to Punturaumporn’s desire to return to Thailand to pursue charitable and spiritual opportunities, and Falkenstein’s parents, who also have a share in the property, wanted to simplify their lives.

“We felt that there will be a new person out there who will want to play the role of landlord and be that character in the Revolver story,” he said. “We think it’s a lot more interesting place for a property investment than a mansion in Toorak.”

Falkenstein said ensuring Revolver had security of tenure was an important part of putting the building on the market.

“The decision about Revolver’s future actually rests with Revolver, but we don’t see anything changing,” he said.

The building was listed on the weekend and will be auctioned on November 14.

One of the agents, Sean Cussell of Christie’s International, said there had been strong interest already from interstate and overseas buyers.

“If the walls could talk, there is a lot of history here,” he said. “It’s not like a heritage building which has history from hundreds of years ago; it has a really interesting cultural history in Melbourne and that’s what makes it an iconic asset.”

Cussell said that despite the sale, it was likely that Revolver would continue operating as a nightclub for the forseeable future because of its valuable 24-hour licence.

“It will be up to the new owner to decide what the future holds for the whole building,” he said. ” It could certainly be a much larger entertainment venue. It could be in the restaurant, food and beverage industry. It could be even a private luxury hotel. It could be a residential conversion.”

Built in 1914, the property forms part of the heritage-listed Colosseum buildings.

It initially operated as a department store and has had iterations as a secretarial and
commercial college, a parachute factory, a bakery and music rehearsal and store spaces.

Punturaumporn and Ippoliti were contacted for comment.

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