Revs’ building under the hammer
One of Melbourne's most iconic nightlife destinations has officially hit the market, with the historic building housing Revolver Upstairs on Chapel Street expected to achieve around $15 million.
Located at 229–231 Chapel Street, Prahran, the 1,287sqm property is home to more than 30 commercial tenants, including the legendary Revolver nightclub and Colonel Tan's restaurant. Despite the sale, industry experts expect the venue to continue operating for years to come, supported by its rare and highly valuable 24-hour liquor licence and existing lease arrangements.
Since opening in 1997, Revolver has become a cultural institution within Melbourne's nightlife scene, hosting internationally renowned artists including Snoop Dogg, Fatboy Slim, Fred Again and The Presets. The property also features a unique loft residence and studio space overlooking Chapel Street and the Melbourne skyline.
Part of the heritage-listed Colosseum buildings, the property dates back to 1914 and has served many purposes throughout its history, including a department store, college, factory and rehearsal space. Today, it represents a rare opportunity to acquire a landmark Melbourne asset with significant commercial appeal, strong tenant occupancy and enduring cultural significance.
The campaign has already attracted interest from interstate and international buyers, reflecting the property's unique position as both a premium investment opportunity and a celebrated piece of Melbourne history.
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