Rumours have been floating around Melbourne’s music scene over the last few days with word of the imminent closure of one of Melbourne’s favourite live music venues. The rumour started from a blind item in Christie Eliezer’s Industry Column in Melbourne’s Beat Magazine and also run online on www.themusicnetwork.com.

The rumour gathered pace over the weekend with various sources naming The Palace Theatre in Melbourne as the likely venue, while others were pointing the finger at St Kilda’s Prince of Wales in Fitzroy Street. The Prince Bandroom issued a statement on its Facebook page last night, saying “the rumours are not true, the Prince Bandroom is not closing down!”

When contacted by Tone Deaf today, a spokesperson for The Palace didn’t respond to questions about the sale of the venue itself, instead they referred to the rumours about the Prince, saying “ looks like someone is spreading rumours about venues in general.”

The Age reported on a planning proposal drafted by developers Urbis in March for the venue, which sought permission to construct a 140 metre high tower on the site and would involve demolishing the nightclub. The venue was placed on the market by owner, property developer Jerry Pilarinos in March of this year, with a current listing of the property for sale by expression of interest last updated on August 5th.

Listed selling points of the property include Massive site area of 1,300 sqm (Approx.), Outstanding development potential, Suits residential apartments, commercial, retail and hotel (STCA).

We’ll keep you updated if we hear anything more. If you have a leak, scoop, or tip you’d like to share email us at tips@tonedeaf.com.au