Buy-A-Brick Scheme To Save Sydney’s Annandale
News posted Monday, December 12 2011 at 11:00 AM.
Related: Annandale Hotel.
The future of Sydney’s Annandale Hotel is in your hands.
With mounting debts and the failure to attract an appropriate buyer – developers have been circling since the property went on the market in March – owners Dan and Matt Rule have dreamed up a unique plan to keep the rock’n’roll institution alive.
As of next year, the pair will be selling off memberships in the form of bricks. For $20-$250, you get a wall-mounted brick bearing your name, and a certificate for helping save the pub. Speaking to The Daily Telegraph yesterday (December 11), Matt Rule said all funds raised will go towards reducing the hotel's debts, as well as much-needed renovations including an overhaul of the bandroom and its famed sticky carpet. He said several musicians and Annandale regulars have pledged their support.
“Having punters own a part of this place will allow it to remain as a music venue,” Matt Rule said.
The Telegraph also reports that the Annandale’s nine poker machines have been sold off to repay some of the mounting debts. “[Rock] punters don’t play poker machines,” Dan Rule told M+N in an interview ahead of the pub’s 10th anniversary celebrations last year. “I’ve got mates that own hotels and they take $40,000-$60,000 out of their machines a week. I don’t even take $500 out of my machines a week.”
For more information on the buy-a-brick scheme click here.