Newtown live music legend The Vanguard is being sold by the current owner, amid the revival of suburban entertainment pubs.
Established in 2003 on bustling King Street, a short walk from Newtown train station, The Vanguard is known for its intimate atmosphere and state-of-the-art acoustics – inspired by the New Orleans jazz and blues scene.
It has hosted leading Australian and international artists, in a vibrant live music precinct, but is also known for being a highly versatile space that can be arranged to be a gritty rock and roll den, burlesque theatre, or simply an intimate dining space.
The large commercial kitchen is configured to serve everything from a three-course dinner-and-show menu to bar snacks, burgers and pizzas, and its licence permits trade until 1am Thursday through Sunday.
The venue has been run under management, and despite not trading during the day reports “steadily increasing YOY” revenue of circa $17k per week.
Vendor on the sale is orthopaedic surgeon Arash Navabi, with price expectation approaching $6 million.
“This is a rare opportunity to acquire a staple of the Sydney music scene and one of the city’s most-loved entertainment venues,” suggests Leonard Bongiovanni, of MQ & Associates, managing the campaign.
Boasting an active social media presence and more than 33k followers, The Vanguard is fully booked with gigs and private functions until August, with a solid calendar of events already confirmed through to the end of the year.
“This is a genuinely reluctant sale,” adds MQ’s Craig Lennard.
“Business is booming, but the current owner is a senior medical practitioner who doesn’t have time to take the venue to the next level.
“The sale of The Vanguard is a fantastic opportunity for someone wanting to own a piece of Sydney’s music history and shape the future of the city’s music scene.”
Freehold going concern of The Vanguard is for sale via Expressions of Interest.
