Iconic Sydney Live Music Venue The Lansdowne Is Up for Sale

Sydney’s beloved live music venue The Lansdowne has been put up for sale for sale - with a hefty price tag of $25 million.

As per SMH, the hotel was listed for sale by HTL Property with expressions of interest open until the end of this week.

The hotel boasts "one of the CBD's largest combined pub trading footprints" and a "new rooftop beer garden", HTL Property writes on its website.

HTL Property’s Sam Handy said of the venue’s sale, “While institutionally popular as a live entertainment venue, the unmistakable scale of The Lansdowne Hotel lends itself favourably to the further and regular activation of multiple other levels.”

“In terms of its location, trading footprint and patron capacity, the business presents as a compelling opportunity to activate a food and beverage proposition that better resonates with the surrounding demographic.”

IB Property’s Steffan Ippolito added, “We expect that it will attract interest from astute investors interested in repurposing the building for commercial, retail and accommodation purposes.”

For years, the Chippendale haunt has been a cornerstone of Sydney's live music culture, hosting countless memorable gigs and serving as a gathering place for local musicians and music lovers alike.

However, the venue has faced numerous hurdles over the past few years, including its first closure in 2015 due to Sydney’s lockout laws.

Last February, The Lansdowne owners Jake Smyth and Kenny Graham announced it would be shutting its doors as they had chosen not to renew their lease.

However, just one month later, it was revealed that the venue was saved at the 11th hour by new management, with The Oxford Art Factory confirming that they had taken over the venue, agreeing with the owners to put aside any plans that could see the demise of this iconic Sydney venue.

The pub, concert and club space changed their front signage with a message at the time that read, "NEW MANAGEMENT, LIVE MUSIC IS HERE TO STAY."

Mark Gerber, Founder and CEO of the Oxford Art Factory stated at the time of the announcement, "Music and Art can never die. They make us stronger and live longer! Sydney doesn't need to lose any more live music venues; it has suffered enough. The lockout laws and Covid-19 have severely impacted a once flourishing and vibrant nightlife, and I wasn't going to let yet another music venue fall by the wayside, not on my watch!”

"Losing music and entertainment venues impacts business communities, our culture, and future generations. Live Music venues are an originator of creativity. They give identity that we can be proud of and take to the world.

"Lansdowne has played a hugely important role in the careers of many of our greatest music stars who have conquered the world. The Lansdowne is rejuvenated and continues to give voice to emerging and established artists and musicians."

Only time will tell if this sale spells final drinks for the iconic venue.