The sale of famous Melbourne live music venue The Espy has been put on hold due to the ongoing coronavirus pandemic.
The beloved St Kilda space was one of eight venues acquired by Australian Venues Co in a deal with Sand Hill Road Group last month, however the closure of pubs and bars around the country has seen the deal be put on ice.
"In the current environment, both Australian Venue Co. and Sand Hill Road Group are focused on their own pubs and teams," Australian Venues Co CEO Paul Waterson said in a statement.
"The two companies have enormous respect for one another other and the intention remains to pick up discussions again once we are through this crisis."
According to The Age, the sale of the venues was well over $100 million.
Alongside The Espy, a number of popular pubs were also incorporated in the sale including Garden State Hotel, Richmond Club, The Posty, Prahran Hotel, Holliava, The Bridge Hotel and Terminus Hotel.
Sand Hill Road Group purchased The Espy in 2017 with the venue undergoing extensive renovations and reopening in 2018. It is one of the country’s most iconic live music spaces.
Australian Venue Co currently run Melbourne venues including The Provincial and Perseverance in Fitzroy, The Park in Albert Park, O'Connell's Hotel in South Melbourne, Middle Park Hotel, Imperial South Yarra and more. The company signed a ten-year deal for The Sarah Sands Hotel in October last year.
