Melbourne’s Gasometer Music Venue For Sale At $310,000

Melbourne live music venue the Gasometer Hotel is on the market for $310,000 with the price revised down to reflect current market interest today.

Estate agent Connolly Hospitality's Pat Connolly told theMusic.com.au today that they had received a lot of interest in the venue and “several buyers” were currently undertaking audits and reviews. Several offers have been made on the venue in recent months but they “weren't quite at the mark”. The asking price for the venue has been altered today to reflect that interest.

With two band rooms, with capacities of 100 and 250 people respectively, Connolly confirmed that they were using the venue's live music aspect as a selling point. The venue's taking are estimated at over $24,000 per week.

The Collingwood venue has toiled to develop a live music following and has solid support from pockets of locals. The venue's booker has directed theMusic's questions about immediate plans for live music to the owners, who've yet to reply to an email.

The venue will host Maggot Fest this weekend, which features Straightjacket Nation and Boomgates, while other shows from Harmony, No Fun At All, Guitar Wolf, Kite Club and Gamma Rays are booked before the end of the year.

Connolly said that he “absolutely” felt there was an interest in live music venue purchases in Victoria currently and recently settled the sale of Gertrude's Brown Couch, which hosts entertainment almost nightly. They are also negotiation the sale of Bendigo's Golden Vine Hotel. That venue has a current asking price of $335,000 and live music features prominently in its selling points.