The developers who illegally demolished Carlton's historic Corkman Irish Pub – and then promised to rebuild it – are suing Planning Minister Richard Wynne in a bid to allow high-rise construction on their site.

A win in their Supreme Court case would lift the value of land they bought in 2015 for almost $5 million to upwards of $10 million.

Stefce​ Kutlesovski​ and Raman​ Shaqiri​ paid $4.76 million for the 159-year-old pub two years ago.

They demolished the two-level hotel without permission on a weekend last October and now face fines totalling up to $2 million.