The future of a beloved, heritage-listed live music venue in Adelaide has been placed in jeopardy with the news that a local property developer has purchased the Crown and Anchor Hotel with some fearing it could be turned into a high-rise apartment block.

As InDaily reports, Karidis Corporation has purchased the Crown and Anchor Hotel, which has stood at its Grenfell Street location since 1853, three years after securing approval to erect a 13-stroey apartment building next door.

SA Australian Hotels Association CEO Ian Horne is among those who fear the purchase may mean the end of the venue, which he told InDaily “shuts down one of our key live music venues – or will over time”.

Kevin Gregg, one of the Crown and Anchor’s former owners, told InDaily, “We knew the land alongside us was going to be developed anyway and we thought it was an opportune time to sell it to Gerry [Karidis]”.

“It has always been made clear to us that apartments are going to be built on that vacant site – ultimately – and we obviously had that in mind when we sold.” However, an Adelaide City Council rep told InDaily the destruction of the venue is not certain.

“Development plans for the site next to the Crown and Anchor have been approved by [Development Assessment Commission], but no plans in relation to the Crown and Anchor itself have been lodged,” they said in a statement.

“The Crown and Anchor is heritage listed so demolition of the hotel is unlikely to be supported by Council, noting that Council has not been notified of any intentions for the site.”

According to Adelaide Now, the Crown and Anchor will continue to operate with business as usual for now and at the moment it’s not clear just what the fate of the beloved local pub and live music venue will be.

“It’s been such a big supporter of live music so it’s going to be hard. It will operate as business as usual but its days are numbered which is a very sad proposition,” an industry source told Adelaide Now.

Developers threatening the future of live music is of course nothing new in Australia. In Sydney alone, developers have completely revamped areas like Kings Cross, once bustling late night entertainment districts, thanks to the city’s lockout laws.

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