The Merivale Group has released a statement countering claims made in an article published on the weekend claiming the George Street venue will be knocked down and replaced by a giant hotel.

Merivale says the redevelopment of The Ivy is not yet confirmed, adding the final concept is a long way off being decided on, and is far from being at the development stage.

“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 the statement.

“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.”

When The Ivy opened in 2007 it was one of the city’s most ambitious hospitality ventures. Spread across eight levels and fronting George Street, it includes bars; a rooftop Pool Club; Ash Street Cellars,; Felix; and takeaway retail outlets including a bottle shop, bakery and florist.