on air now

Iconic music venue not going down without a fight

The 45-year-old jazz club closed its doors for good last week after investment firm AMP Capital ended the lease.

One of Sydney’s oldest music venues, The Basement has seen the likes of Neil Diamond, Dizzy Gillespie and Herbie Hancock.

Alan has slammed the move as “the slow death of live music”.

But a new motion put to state government by Labor MP John Graham is calling on AMP Capital to consider all options to keep the venue alive.

He’s described it as “the beating heart of the city”.

Musician and music teacher Sam McNally tells Alan AMP Capital “have an opportunity to be a good corporate citizen at this point”.

Listen to the full interview below 

AMP Capital insists the decision to end the lease was a mutual one, issuing the following statement:

“Like so many Sydneysiders, we want to see The Basement operate successfully for the long term.  AMP Capital has been working closely with The Basement for well over 6 months to help save its future as The Basement management has decided the space isn’t right for them long term and want to find a new home.

Our team has been supporting The Basement’s management in their plans to exit the current lease and find a venue that better suits them and where they can continue to thrive well into the future.

It’s too soon to say who may move in but we can say that there is absolutely no intention to turn The Basement into offices. As property manager we are open to working with our investors to look at all options for the future space including another music operator.  To encourage proposals from the next live music, bar or restaurant operator, we have already commenced a leasing campaign inviting operators to reach out to us.”

Image: Facebook