Melbourne’s Hotel Westwood and Sydney’s The Vanguard have both been put up for sale, with the current owners of both venues saying they should remain as dedicated live music spaces. The news comes after Melbourne’s most iconic music venue The Tote was put up for sale less than a month ago.
Co-owner of Hotel Westwood, James Young, said the decision to sell was the result of the “brutal” timing of the pandemic and lockdowns. “We couldn’t open the door to full capacity for over two years,” he told Broadsheet. “For people in hospitality and live music, the effects of the pandemic will be well and truly felt for a five-year period.”
Young, whose business Cult Leader runs the venues Cherry Bar and Yah Yahs, said they had run out of money to finish the kitchen, which the Westwood requires. “You can be booking the best artists that are touring, but at the end of the day, people want a meal. I eventually had the epiphany that I’ve gotta learn to stay in my lane. And my lane is live music and late-night rock’n’roll bars,” he said.
Young added that he was struggling to pay back the “50 percent of rent we owe for a two-year period” over the pandemic, and the group are also struggling with a ” 500 percent increase in public liability insurance”. “I used to pay $6000 a month, now I’m paying $33,000 a month [across all four venues],” he told Broadsheet.
Young flagged that a new buyer had potentially been found, and they were a “significant player” in the Melbourne live music scene.
The owner of Sydney’s Vanguard is also determined to keep the venue out of developer hands, with the Broker MQ & Associates saying in a statement that it was a “reluctant sale”.
“Business is booming, but the current owner is a senior medical practitioner who doesn’t have time to take the venue to the next level,” said the firm’s Craig Lennard. “The sale of The Vanguard is a fantastic opportunity for someone wanting to own a piece of Sydney’s music history and shape the future of the city’s music scene.”
Expressions of interest for the venue are now open.
A crowd-funding campaign to save The Tote was recently launched by the owners of Melbourne’s Last Chance Rock & Roll Bar.
Further Reading
Melbourne’s Last Chance Rock & Roll Bar Launches Pozible Campaign to Buy The Tote
Melbourne Venue The Tote Is Up For Sale
Newcastle’s Cambridge Hotel Confirms Closure, Announces Dates for Farewell Festival
