The land on which one of Melbourne’s oldest clubs - the German Club Tivoli in  Melbourne’s Prahran - has been operating for nearly 40 years will be redeveloped following its sale.

The club has been a meeting point for Germans in Melbourne for more than 160 years, since it was  founded in 1860, and has been operating in its current location on the corner of Chomley Street and  Dandenong Road since 1988.

It occupies a triple-fronted landholding spanning 3,085sq m, with the club currently consisting of a  German restaurant and beer hall with a building area of around 1,155sq m.

While the German Club Tivoli is still operating, the large site is permit approved for the development of  a boutique, six-level premium residential development. The project allows for 5,876sq m of net sellable  area across 56 apartments and 771sq m of premium ground-level retail. It would also have basement  car parking.

The Prahran property has now been sold following an Expressions of interest (EOI) campaign run by  Knight Frank agents Stephen Kelly, Tom Ryan and Nick Bisset in conjunction with Colliers’ agents  Jozef Dickinson, Philip Heberling and Alex Browne on behalf of the vendor, German Club Tivoli.

Knight Frank’s Mr Kelly said: "Knight Frank is proud to have exclusively introduced the purchaser of  the German Club Tivoli in Prahran and exclusively negotiated the sale.

“The campaign generated over 180 inquiries, creating strong competition and allowing us to sell the  property on an unconditional basis within 48 hours of the campaign close, with a 60-day settlement.

"The campaign demonstrated strong demand for development sites of this scale. We are now  engaging with several groups from this campaign who are seeking similar opportunities.

“The fact that the Prahran site was permit-approved was very attractive for developers, however the site did offer the flexibility to amend the permit for alternative uses, including all residential, aged care  and medical uses.”

The President of German Club Tivoli Mr. Dieter Schwab expressed his thanks to Stephen Kelly  particularly, for his due diligence, clear and concise communication & utmost professionalism in  securing this sale on the Club’s behalf.

Mr Ryan said the location of the property in Prahran, particularly on the northern side of Dandenong  Road, was a drawcard for buyers.

“Prahran itself is a chic and luxurious pocket of inner Melbourne, and is a highly desirable location to  live, work, and play.

“The site is in a sought-after residential precinct, situated a short distance from all modern dining,  retail, schooling and recreation options. 

“It is also conveniently situated within 25 metres of the Closeburn Avenue Tram Stop, providing direct  access to the Melbourne CBD.”