The Melbourne home of the world-renowned Revolver Upstairs nightclub on Chapel Street is going under the hammer in November and expected to fetch over $15 million.
The Revolver Buildings are considered one of Melbourne’s most culturally significant venues. Fronting 229-231 Chapel Street and 24 Macquarie Street in Prahran, they comprise a total landholding of 1,287 square metres, with 2,686 square metres of fully-leased internal net lettable area.
‘Revs’ and its Colonel Tan’s Thai restaurant take up around one quarter of the property and have been operating continuously since 1997, holding a rare 24-hour liquor licence. Acclaimed musicians including Snoop Dogg, Fatboy Slim, Fred Again, Bicep, The Avalanches, The Presets and many others have graced the infamous cage and bandroom at Revolver Upstairs.
With comparisons to Sydney’s The Bonython, which was sold by ad-man John Singleton for over $30 million in 2024 to Annie Todd, the billionaire former wife of Atlassian-founder Mike Cannon-Brookes, the Revolver Buildings thoughtfully blend the arts and business, housing over 30 commercial tenancies, including creative studios, offices, co-working areas, meeting and event spaces, retail and a coffee bar.
“The Revolver brand carries its own unmistakeable cache and preserving its cultural and community value is central to this sales process. The vendors are looking for a new custodian who understands this cultural value and have chosen to auction the property to highlight its energy and status as a functional work of art,” says long-time building manager Kurt Falkenstein.
“Revolver Upstairs has become deeply woven into the cultural fabric of Melbourne. It stands as one of the city’s most enduring and recognisable night spots. Whether you are a local or visiting from overseas, Revs is one of those places that connects with everyone that passes through it.”
“It has been incredible watching the Revolver ecosystem reach its full potential over the years. It is now a thriving nexus for music, arts, hospitality and business. And we hope it continues to foster creativity, connection and enterprise into the future.”
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. This area has served as the long-time home and studio of Revolver founder and Thai pop-star Tan Punturaumporn, whose return to Thailand to pursue charitable works is prompting the auction.
Originally built in 1914, the landmark property forms part of the heritage-listed Colosseum building – a remarkably intact example of pre-World War One boom architecture with a striking ionic column façade.
It initially operated as a department store and has seen iterations as a secretarial and commercial college, a parachute factory, a bakery and music rehearsal and store spaces.
The property sits at the epicentre of Prahran’s Chapel Street precinct between High Street and Malvern Road. It is five kilometres from Melbourne’s CBD and benefits from strong public transport links and major residential, retail and hospitality catchments along Chapel Street.
Christie’s International Real Estate Victoria agency Principal, Sean Cussell, and JLL’s Josh Rutman, Jesse Radisich and Will Connolly have been appointed as joint selling agents on the listing.
The Revolver Buildings are being offered for sale via public auction on Friday 14 November at 4:30pm. Information regarding tenant leases at the property are commercial in confidence and available to qualified parties through the sales agents.
More details about the Revolver Buildings property listing are linked here.
Quote attributable to Principal at Christie’s International Real Estate Victoria, Sean Cussell:
“The Revolver Buildings have been a cultural touchstone for Melbourne’s nightlife and creative community for decades. Opportunities to acquire a trophy property of this stature, with both strong income and extraordinary legacy, are exceptionally rare.”
“This is a highly flexible property that combines character, heritage and commercial performance. Thanks to its prime Chapel Street location and Activity Centre zoning, we expect strong interest from a broad range of local and international investors and institutions.”
Quote attributable to JLL’s Head of Capital Markets (Victoria), Josh Rutman:
“Revolver is a truly unique asset with demonstrated commercial performance and long-term potential. Investors are being offered a landmark landholding with a strong leasing profile today, as well as the flexibility to consider a range of future use cases as the Chapel Street precinct evolves. We expect to see significant local and offshore competition for the asset.”
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