Things aren’t looking good for Sydney live music stalwart The Annandale. After an appeal by the owners for someone to buy the pub and keep it as a live music venue, the signs are not looking good.

Posting on the Sydney music icon’s Facebook page, the owners say “There have been a lot of enquiries recently asking if the hotel has been sold yet,” it reads. “To this, the simple answer is no. That being said there are currently a handful of developers circling, with an eye to turning the site into a combination of retail stores and apartments.As of yet no deal has been done. And as it has been made public knowledge this is not the Rule Brothers desired outcome. The Annandale Team is still busily looking into options to avoid this scenario, but a decision will have to be made by mid to late August. Thanks for your continued support and we will keep you updated as news comes to hand.”

The news comes as it is revealed that Sydney venue mogul Justin Hemmes, who has been buying Sydney’s last remaining live music venues like a sailor on payday, was looking at buying the venue, but pulled out of the bidding process without citing any particular reason.