The fate of The Annandale Hotel in Sydney’s inner west is set to be sealed tomorrow with the whisperings that the iconic music venue has been sold off to a live music hater residential buyer.
According to ‘hotel industry sources’ of The Daily Telegraph, the much-loved-and-alcohol-soaked venue was sold on Monday with the plans to turn it to a residential development.
The Annandale has been in receivership for the past three months since St George (the bank, not the rugby league football team) foreclosed on the hotel. Receivers Ferrier Hodgson have been handling the sale since owners/brothers Matt and Daniel Rule realised they couldn’t pay the hefty $3 MILLION mortgage.
Expressions of interest for potential buyers closed with two bids on the table – one from the owner of a well-known (yet unnamed) music venue and the other from a live music Grinch. According to those insiders, they went with the Grinch.
Earlier this month, Leichhardt mayor Darcy Byrne wrote an Ode to Live Music a letter to Ferrier Hodgson pleading with them to sell the hotel to music lovers. Apparently it wasn’t heartfelt enough and now Councillor Byrne is pissed.
He told the Tele: “Today’s troubling news is a direct consequence of the destructive approach of my predecessors. The hypocrisy of people such as former Mayor Jamie Parker will be writ large in the sale documents. In pretending to support live music while voting against the Hotel’s application he and his fun police allies bear primary responsibility for today’s tragedy.”
Is anyone else now picturing him singing ‘I Love Rock N’ Roll’?
UPDATE: It doesn’t take long for scoops affecting the Australian live music community – particularly unverified ones – to spread across the internet, and sure enough TheMusic.com.au is reporting that The Daily Telegraph‘s story is false. TheMusic spoke exclusively with a representative from The Annandale’s realtor, Knight Frank, who said “The hotel is close to being sold but the information in the press is
wrong. The prospective purchaser is a publican.”
Words by Rachel Tinney
