Management of Sydney's iconic The Basement have finally broken their silence on the reported closure of the venue after 45 years of operation.
In a statement posted to Facebook on Tuesday, management said they and the venue's property manager, AMP Capital, have mutually agreed to "end the lease ahead of its expiry", however they confirmed they are now looking for a new space.
"To be clear, the current premises no longer works for The Basement and AMP Capital has not kicked us out, but rather supported us during this change," the statement reads.
"AMP Capital has been a strong supporter of The Basement, our artists, patrons and live music in Sydney for over 10 years.
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"We appreciate the recent support from the public and the ongoing support from AMP Capital, who have continued to work with us over the past week to explore options for us to stay in the current space while we look at possible alternative venues for The Basement.
"While we are thankful for that support, long-term it doesn’t make sense for us to continue in the current space as we are looking to find a permanent home and long term solution that is better suited to us. We are looking at a number of options so watch this space as we look to move The Basement into a new era and continue as one of the longest running live music venues in Sydney."
Read the full statement below.
All ticket holders for upcoming shows at The Basement "will be contacted by Moshtix in the next few days for refunds".
