Iconic Sydney live music venue The Basement will shut its doors after 45 years, the building owner has confirmed.
Rumours that the oldest licensed music venue in Sydney would be closing down started swirling last night when local musician Danny G Felix uploaded an emotional post to Facebook.
"The Basement is closing down in less than a week," he wrote. "So tomorrow night will be the last Monday jam at The Basement. Let's make it a good one."
And now AMP Capital, which owns the building, has said that they are "equally disappointed" to have to confirm the news.
"We have worked with the management of The Basement for more than six months to ensure an appropriate transition could take place and have amicably agreed to end the lease," a spokesperson said.
Denying reports that the space would be turned into offices, the spokesperson added: "It's too soon to say whether another music operator, bar or restaurant will move in."
Musicians and gig-goers alike have taken to social media to express their upset at the news; Connie Mitchell of Sneaky Sound System likened the closure to "living in Footloose" while Aussie DJ Katalyst questioned why The Basement had to close.
"With all the vacant office space in the city they need to shut down this venue," he questioned.
Clover Moore, Lord Mayor of Sydney, has said that she will be following the case "closely".