The buyer of Sydney’s legendary live music institution, The Annandale Hotel, has stirred controversy overnight due to conflicting reports that the venue had been sold off to a redevelopment project before the real estate agents themselves sought to clarify the site’s sale status.
The Annadale has been on public listing for sale for other a month now and earlier this month Leichhardt Mayor Darcy Byrne had made a plea at the 11th hour to ensure the pub’s legacy as a live music venue continued.
Amid fears that the Annandale would be sold to a buyer who had no interest in continuing the hotel as a live music venue, yesterday The Daily Telegraph reported that the Annandale was already sold earlier this week, claiming the agents had handed over the site to a residential developer.
But today representatives from Knight Frank Real Estate have spoken to The Guardian, stating that The Daily Telegraph‘s report was inaccurate. “The information which is in the Daily Telegraph is incorrect,” said a spokeswoman for Knight Frank about the Sydney venue. “It hasn’t been sold and it will most likely remain in entertainment when it is.”
Additionally, the commercial agent’s Director of Hotels, Mike Wheatley, has told TheMusic that the reports of the Annandale being sold for redevelopment are false, and instead confirmed that the prospective buyer “is a publican.” The Daily Telegraph article had quoted ‘close sources’, saying that papers had been finalised and that a developer had claimed the highest bid against a ‘well known’ live music venue operator. “The hotel is close to being sold but the information in the press is wrong. The prospective purchaser is a publican.” – Mike Wheatley, Knight Frank Real Estate
But that information has been proven inaccurate, says Mr Wheatley; “The hotel is close to being sold but the information in the press is wrong. The prospective purchaser is a publican.”
The Annandale went into receivership in February, and receivers Ferrier Hodgson have been seeking buyers since it was put up for public sale last month by Knight Frank Real Estate as an “iconic entertainment pub” in a “growth area”. Former owners Matt and Dan Rule were forced into a nasty eight year long legal battle with Leichhardt Municipal Council over late-night trading and noise complaints, and spiralling legal costs “in excess of 200K” according to Matt Rule in a fiery tirade, eventually saw them handing the keys over to receivers amongst enormous debts.
The news of the prospective publican buyer will no doubt be welcomed by Leichhardt Mayor Darcy Byrne, who has been staunchly supporting live music in the area, and made a final push for the Annandale to be sold to a bidder with an interest in continuing the venue’s live music legacy. He contacted Ferrier Hodgson recently and asking that all bidders be alerted to Byrne’s desires for the venue to fall into the right hands.
“Any change of use at the venue will require consent from the council and I’m determined that it will be continued as a live music venue, rather than housing or anything else,” Mayor Byrne tells TheMusic today. “Any change of use at the venue will require consent from the council and I’m determined that it will be continued as a live music venue, rather than housing…” – Leichhardt Mayor Darcy Byrne
“To save the hotel is a huge triumph for music lovers in Sydney and the transformation of Parramatta Road into a live music precinct will provide huge incentives for the hotel to remain an iconic live music venue,” he added. “Any purchaser who shares our vision will have my full support.”
Both Mayor Byrne’s Leichhardt council and the bordering Marrickville council have unanimously passed resolutions supporting the foundation and development of a live music precinct that runs along Parramatta Road, from Petersham to Sydney University, with Annandale forming the crux of the cultural hub.
“I want potential investors to know that the reign of the fun police has come to an end. There’s a new regime at Leichhardt Council and we’re on the verge of creating Sydney’s first live music precinct,” said Mayor Darcy Byrne. “We want music not Meriton, rock-and-roll not residential flats… The money men who have taken over the pub will be focused on profit. I want people to know that with Parramatta Road set be rezoned for live music a concert venue will be the most profitable use of this site.”
Ultimately however, the use of the Annandale is entirely up to its new owner and any decision to curtail its historic legacy as a live music venue is clearly down to the whims of whoever happens to have their name on the lease.
“I’m realistic that the receivers aren’t in this for altruistic purposes, they probably don’t give a damn about live music. But the reason I… want to send a message loud and clear that live music and performance-related businesses will be more viable in the immediate future,” said Mayor Byrne. “Any purchaser of the Annandale who shares our vision of bringing Sydney’s live music scene back to life will have all the support they need to make it happen.”
