Sydney's Iconic The Basement Has A New Owner Ahead Of Move

Just weeks after its closure, iconic Sydney venue The Basement has already scored a brand new owner.

Musical entrepreneur and property developer, Albert Dadon, has acquired the name and assets of the beloved live music hub and has stated intentions to re-open as soon as a new location is found. 

"I was saddened to see The Basement close its doors," Dadon said.

"It was a loss to the cultural health of the city and Australia.

"I hope that with the help of those who are committed to retain and reinvigorate Sydney’s music scene we will find an ideal new location of The Basement."

Dadon has been an active member in the Australian music industry for many years; as well as establishing the Australian Jazz Bell Awards in 2002, he opened jazz venue Bird's Basement in Melbourne in 2016. 

"I would love to provide Sydneysiders with a wonderful 21st century experience, similar to what we created in Melbourne at Bird’s Basement," Dadon said.

"In the meantime we will be looking at broadcasting all our shows live from Melbourne in our soon to be launched app."

Dadon also performed at The Basement under the moniker of Albare, and has recorded 11 albums. 

The news comes just a week after a rally was held outside NSW Parliament calling for The Basement to be saved.