King Street Strip Club Precinct Closer To Retail Transformation

Lorenz and Rino Grollo are set to acquire notorious Melbourne CBD strip club Showgirls Bar 20 which would see the King Street precinct come closer to transformation into an upmarket retail centre.

According to The Age, liquidator of the site John Lindholm is close to accepting an offer of approximately $12.5 million from the Grollo family for the club.

The Grollo family has been able to build their holding in most of the adjoining properties.

The Age reports they would immediately close the club and look to consolidate the last remaining building they don’t currently own on King Street between Collins Street and Flinders Lane.

Showgirls Bar 20 is owned by ASX-listed Planet Platinum which was put into liquidation in December.

The bar and King Street night club precinct has long been a source of frustration for authorities who have been forced to deal with constant brawls and drunkedness.