Popular Melbourne venue Gasometer Hotel listed for sale

Venue managers are looking for offers within the ballpark of $350,000

Iconic Melbourne venue The Gasometer Hotel is up for sale, with the venue’s managers looking to part ways and pursue their own ventures.

According to a listing on a commercial real estate website last updated on April 15, the sellers are looking for offers “in the region of $350,000” which is a “heavy discount to what the venue is actually worth”. It is worth noting that the sale pertains to the leasehold, not the land on which the venue is situated.

“The Gasometer Hotel, at the top end of Smith Street, has and will continue to play a pivotal role in supporting live music in Melbourne (and the occasional stand-up act) seven nights a week,” the listing reads.

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In a statement provided to NME Australia, Gasometer production manager Shan Vanderwert said the venue’s sale was not related to the ongoing coronavirus pandemic.

“My business partner and I have worked hard to support Melbourne’s vibrant live music scene however more recently our focus has increasingly been on following separate career paths and we have decided to end our partnership and go our separate ways,” Vanderwert said.

“It’s been great to see there is strong interest in the venue.”

As The Music reports, there have been multiple parties interested in taking the lease off the hands of the current team.

“The Gasometer Hotel as you are probably aware is a fantastic live music venue and all those that have shown real interest in the place seem to have the aim of continuing it as such,” business broker Lloyd Nunn said in an article published yesterday (April 27).

“Of course I cannot guarantee that would be the case but such a purpose built set up lends it to not much else.”

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The Gasometer closed its doors from midday on March 23 due to increased restrictions from the coronavirus pandemic. In a Facebook post, management said they looked forward to serving customers once they were allowed to reopen, but didn’t mention selling the venue.

“We will say farewell for now, but look forward to seeing your lovely faces on the other side.”

As most of you will be aware, our doors are closed as of 12pm today. Thank you to our artists, patrons and staff for…

Posted by The Gasometer Hotel on Sunday, March 22, 2020

The Gasometer was established in 1861 and has hosted performances for an impressive range of local and international acts.

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