Property managers of Sydney's iconic The Basement have confirmed their desire for the space to continue as a live music venue or bar under new tenants.
The Macquarie Place venue closed its doors after 45 years of operations in April and there was talk that it would be converted into office spaces.
However an AMP Capital spokesperson has told Commercial Real Estate that the speculation is off the mark after The Basement was officially listed on the leasing market last week.
"It’s too soon to say who may move in but we can say that there is absolutely no intention to turn The Basement into offices," the spokesperson said.
"As property manager we are open to working with our investors to look at all options for the future space, including another music operator.
read more:
"To encourage proposals from the next live music, bar or restaurant operator, we have already commenced a leasing campaign inviting operators to reach out to us."
"Like so many Sydneysiders, we want to see The Basement operate successfully for the long term," the AMP spokesperson said.
"AMP Capital had been working closely with The Basement for well over six months to help save its future as The Basement management and decided the space isn’t right for them long-term and want to find a new home."
The news comes after musical entrepreneur and property developer, Albert Dadon, acquired the name and assets of the beloved live music hub.
Dadon has stated his intentions to re-open as soon as a new location is found.
