EXCLUSIVE: Sydney’s The Basement Sold, Music To Continue

Live music is set to continue at Sydney's iconic The Basement venue in Circular Quay with a new owner and Entertainment Booker set to take over the reigns from Monday 8 April.

The venue, which celebrates its 40th year of operation in the coming 12 months, was put up for sale by owners Tim Read and Jane Burridge in June 2012. It is believed to have been bought by David Wallace earlier this year. Wallace is behind Circular Quay's Opera Kitchen and has ownership stakes in Cloudy Bay Fish and Steel Bar & Grill. The Basement is his first foray into music venues.

All shows already booked into the venue and with tickets on sale will go ahead as planned. There will likely be some superficial changes made to the venue but the venue will continue as a live music venue.

As part of the sale the Wallace has appointed a new venue booker and management team. Nathan Farrell, who left his post as The Mac's booker last month, will become the new venue booker as of next Monday while Joey Caruana will be the new venue manager. Existing staff have been let go, with many finishing up today.

The venue's outgoing Artist Bookings & Liaison Manager Nicolle Lane – who has been in the role since February 2012 – told theMusic.com.au that she had faith that the venue's strong brand and standing amongst the industry and expected to continue as a regular music venue.

“It's been my great honour and privilege to be the custodian of this legendary venue – Sydney's oldest live music venue, in fact – for the past 14 months,” she said. “It was certainly a shock to discover last week that I will no longer be in the role, but The Basement is an institution, and it has a lifeblood of its own that pulses vibrantly. 40 years of incredible live music are being inherited by the new team, and I look forward to seeing how they maintain that legacy.”

Farrell told theMusic today, “I am absolutely thrilled and honoured with my new role at The Basement in the lead up to its 40th anniversary early next year. My musical vision moving forward will be with love and respect for the history of venue but also firmly giving it a new contemporary identity.

“I will be referencing some of my favourite venues booking styles from around the globe including London's Jazzcafe and New Orleans Tipitinas which constantly juxtapose traditional acts with the cutting edge. Exciting things to come and plenty more news soon.”

The venue currently has shows from The Hillbilly Killers, Mark Seymour, Bruce Mathiske, David Bridie and Evermore booked in for the coming months.