Another week, another Sydney venue is set to shut its doors.
Cargo Bar, the late-night haunt on King Street Wharf, has been put up for sale by its owners Keystone Group. The news follows Keystone’s sale of Newtown Hotel, which has gone from strength to strength under new management.
Nonetheless, given the current climate of Sydney venue closures – in part due to the lockout laws and restrictions on alcohol service introduced by the State Government in 2014 – any news of another venue’s potential departure from the scene is worrying news.
As reported by the Sydney Morning Herald, Keystone will use the sale of Cargo to advance its expansion plans in Melbourne, a city that doesn’t have the same lockout restrictions in place.
“We are now being presented with a number of exciting opportunities across the country, including in Melbourne where we currently have no presence,” executive chairman Richard Facioni toldSMH.“The sale of Cargo will allow us to accelerate some of those growth plans.”
It is yet to be seen what Cargo’s sale means for Keystone’s other King Street Wharf venue, Bungalow 8.
Photo: Ashley Mar
