Sydney’s Oxford Art Factory is up for sale, but its boss and its real estate agent have reassured locals that it isn’t closing, isn’t moving out, and is simply searching for a landlord to take ownership of the property on which the venue sits.
Speaking with Music Feeds, the real estate agent selling the Oxford Art Factory site, Kieran Bourke, says the venue currently owns and occupies the property, which is now up for sale to any prospective landlords. If the sale is successful, Oxford Art Factory will become a tenant, and no longer the owner of the space.
“Oxford Art Factory isn’t going anywhere,” Mr Bourke says, adding that the venue’s operators have chosen to “cash out of the property” in what’s still a strong Sydney property market, in order to use the funds elsewhere.
Mr Bourke says that if Oxford Art Factory does end up in the hands of a landlord, that landlord will have the option to lease the property up until 2045, not 2035 as listed on the venue’s Real Commercial page.
In a statement (via triple j), Oxford Art Factory boss Mark Gerber says the venue is “selling the strata (property) only, not the business”.
“The business is not for sale. We have a lease that extends beyond 2025. It is business as usual for the OAF,” Mr Gerber says.
“We thank everyone past, present and into the future for their support of the OAF and its program of Live Music and the Arts.”
Oxford Art Factory opened at its current location in Darlinghurst back in 2007. An auction for the venue’s location is set for 11am AEDT Thursday, 29th October at Sydney’s Sofitel Wentworth Hotel. View the venue’s listing over at the Real Commercial website.
Gallery: Hayden Calnin, The Antlers – Sydney, Oxford Art Factory 13.02.15 / Photos: Annette Geneva
Sydney's Oxford Art Factory "Isn't Going Anywhere", Is Looking For A Landlord - Music Feeds