Basement club at Circular Quay looking for another owner

The Basement club at Circular Quay is on the market after its owners have decided to conclude their 13-year tenure.

There are 10 years left on the lease, according to the Spencer-Carr Property listing agents.

Since opening in 1973 the premises have had the likes of Neil Diamond through to Prince grace its stage.

It’s being marketed as suitable for alternate licensed food and beverage concepts.

“It will obviously appeal to quality music industry professionals, but can also be evolved into a variety of successful licensed food and beverage concepts,” Adam Spencer-Carr suggests.

The venue holds a 24-hour hotel licence and a 550-person capacity located at Circular Quay over two levels.

Licensees Tim Read and Jane Burridge are selling to pursue other priorities.

In a statement published by Fairfax Media, they said they had spruced the place up, but resisted pressure to install poker machines.