The Basement as we know it is coming to an end, but the live venue’s brand and vibe could be resurrected in the near future.

The management team behind the Sydney nightspot is searching for a new site to replace the iconic room at 7 Macquarie Place, which is set to shut its doors for the last time.

As previously reported, the beloved venue closes out decades of sweaty gig history.

Now, the venue’s operators have turned to Facebook to thank artists, patrons and the general public for the “outpouring of support,” and to throw out some positives.

“While we are thankful for that support,” the statement reads, “long-term it doesn’t make sense for us to continue in the current space as we are looking to find a permanent home and long term solution that is better suited to us. We are looking at a number of options so watch this space as we look to move The Basement into a new era and continue as one of the longest running live music venues in Sydney.”

It wouldn’t be the first time the Basement has upped and relocated

The club first opened its doors on May 10, 1972 at a site in downtown Sydney, but it was forced to call time in 1988 to make way for the demolition crew. The venue reopened at its current home in 1992, just a few doors down from its birthplace. The 600-capacity room underwent a major refurbishment in 2015.

Management also sought to clear up speculation about the role of property manager AMP Capital in the closure. According to the statement, AMP Capital has been a “strong supporter” of the venue for more than a decade and, after working on a transition over the past six months, both parties mutually agreed to end the lease ahead of its expiry.

“To be clear,” the statement reads, “the current premises no longer works for The Basement and AMP Capital has not kicked us out, but rather supported us during this change. AMP Capital has been a strong supporter of The Basement, our artists, patrons and live music in Sydney for over 10 years.”

AMP Capital said while it’s too soon to say whether another music operator, bar or restaurant will move in, it is open to considering all options.

The Basement claims to be the oldest licensed music venue in Sydney and has hosted hundreds of gigs and events, from Herbie Hancock to Dizzie Gillepsie and the Australian Music Prize ceremony.

No more shows are listed on the official Basement website and an official date of closure has not been confirmed. Independent ticketing firm Moshtix will contact ticket holders in the coming days for refunds or information on moved shows, according to management.