The Basement management reveals a new home is being sought, with venue closure imminent

The management team behind iconic Sydney venue The Basement have released a statement, confirming rumours over the past week suggesting the venue’s closure is imminent, and that they are seeking a new permanent home.

TMN last week reported on claims by Basement gig organisers Danny G Felix that the owners of the building, AMP, were turning it into office spaces.

It was then rumoured that there had also recently been a failed attempt to sell the venue.

Now, in a statement posted to Facebook, the team behind The Basement have sought to “set the record straight” about why the venue was closing.

“We were touched by the outpouring of support from artists, patrons and the general public – we thank you,” reads the post.

“There is no doubt that support for live music in Sydney has shifted over the years and we have worked with the property manager, AMP Capital for more than six months on a transition, mutually agreeing to end the lease ahead of its expiry.

“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.

“AMP Capital has been a strong supporter of The Basement, our artists, patrons and live music in Sydney for over 10 years.”

The statement clarified that AMP have in fact worked with The Basement’s management team to try and explore options to remain in the current space in the interim, until a new potential space is found.

“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.”

The full statement is available below.

https://www.facebook.com/thebasementsyd/posts/1734364106610129