There’s a pretty good chance that if you’ve been to a live gig in Sydney at any time over the last few decades, you’ve probably found yourself making your way over to The Basement. Now, after 45 years of serving as one of Sydney’s go-to nightspots, the Macquarie Place venue is set to close its doors in less than a week.

Primarily a jazz venue, since The Basement first opened its doors in May of 1972, it has managed to become one of the most beloved live venues in all of Sydney, with huge names including Dizzy Gillespie and Herbie Hancock having performed there over the years.

However, it now seems that all the history and culture that The Basement has played host to over the years is about to be rubbed out, with news breaking that the venue is set to be turned into office spaces at the behest of the building’s owners.

Taking to Facebook earlier today, Sydney musician Danny G Felix shared the news, devastating those who have formed a close bond with the venue over the years. “So it’s true.. The Basement is closing down in less than week,” he wrote. “AMP the owners of the building are turning it into office spaces after 45 years of live music almost every night.”

Danny G Felix also noted that The Monday Jam, a weekly jam session held each Monday since 2010, is set to hold its last session on Monday, March 26th as a result. “Lets make it a good one,” he noted, while asking for suggestions for a new location of the weekly event.

Since its inception close to a decade ago, The Monday Jam has played host to influential musicians such as The Blind Boys Of Alabama, De La Soul, and Gregory Porter, just to name a few.

While The Basement did undergo a few years of closure in the late ’80s, it managed to reopen in 1992 a few doors down from its original location. Considering that its current location is set to be turned into office spaces, there’s no telling whether or not The Basement will be able to find another nearby location in order to continue its status as one of Sydney’s most beloved venues.

At this stage, The Basement is yet to release a statement in regards to the future of the venue, but if true, this is truly a blow for fans of jazz, and the live music scene in Sydney as a whole.

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