The future of popular venues like Sydney’s The Marlborough Hotel and Brisbane’s The Foundry hangs in the balance, as they’re set to go up for sale.
According to The Shout, venues run by Riversdale Group are being put up for sale by the Australian Pub Fund, as they’ve decided that now is the time to put a number of venues on the market.
The Australian Pub Fund has reportedly decided that it’s the right time to sell as the venues are valued significantly higher than when they were first bought.
In Sydney, the venues run by Riversdale Group include The Malborough Hotel in Newtown and Kinselas in Darlinghurst. The Malborough Hotel has experienced a huge rise in traffic since the introduction of the lockout laws, as it’s just outside the lockout zone. Kinselas, on the other hand, is one of the few venues that has successfully weathered the storm of the lockouts, with The Standard Bowl, inside the venue, proving to be a popular weekend spot.
Both these venues have reportedly already hit the market.
Marrickville venue Vic On The Park is also included. It’s a popular spot for local bands and consistently draws a healthy crowd in the courtyard.
In Brisbane, The Foundry is going up for sale, among others. The venue opened last year and has since played host to artists like Ecca Vandal and Last Dinosaurs while it’s upcoming gigs include Jack River and Husky.
It’s possible that these venues will continue to function as live music spaces following the sale, although it does throw their future up in the air.
Watch: The Vines – ‘Get Free’ (Live At Vic On The Park)