The recent closure of three Northbourne Avenue nightclubs could spell the end of one of Canberra's most iconic after-dark strips.
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For lease signs have been afixed to former venues North Bar, Meche Nightclub and ICBM and the building owners have signalled they want restaurants not nightclubs to take their place.
The trio of nightclubs, on the Northbourne Avenue side of the Sydney Building, have been a fixture of Canberra's late night bar scene for more than a decade.
"It was basically a simple business decision that we made to cease trading due to a failure to reach an agreement of terms with the building owner," said Steve Bates, director of the three venues.
Mr Bates said he was extremely disappointed to close venues that were "a big part of my life for 15 years".
"ICBM has been closed since January because we tried to work out an arrangement whereby it could be refitted, because it was the oldest and in the most need of renovations. We weren't able to come to those terms," he said.
"Then the closure of North Bar was at the end of July and Meche was closed in late August."
Mr Bates said he planned to reopen the bars when the right sites were available.
"We'll be looking at alternative venues in the future. Where that presents itself, we just don't know yet," he said.
Retail sales and leasing consultant Lachlan Fitzpatrick from LJ Hooker Commercial, who manages the Sydney Building on behalf of the Sydney-based owner, confirmed that the operator of the venues had decided to end the tenancy, and the properties were available for lease.
"There was willingness from both parties to come to a resolution for the existing operators to stay on and trade in all three tenancies, however, it was the operator's decision to withdraw and close up all three venues," he said.
Mr Bates also said asbestos in the building was a factor in the decision to end the lease.
However, Mr Fitzpatrick said the building owner had managed the discovery of asbestos according to legislation.
"In 2009, a report was done which identified some asbestos-containing materials which were noted to be sealed and in good condition, and as per the legislation, the tenant was provided with this," he said.
"An update was done in March this year and the asbestos was noted to still be in good condition and sealed. If the report showed that the asbestos was not in a good condition, the asbestos would've been removed."
The space is advertised for lease on All Homes.
Mr Fitzpatrick said his client was looking to change the use of the area.
"The landlord's preference is to lease them and swap over the use to restaurant users, retail users, or possibly office users or personal service users," he said.
"However, if a reputable nightclub or bar owner came along, he would definitely look at leasing to them."
The Sydney Building was partially damaged in a fire in February this year. A section of the building on the corner of London Circuit and East Row remains covered in scaffolding, with no official date for reopening.
Mr Bates said he believed it was going to be tough for the traders remaining in the building.
"Unfortunately, there's been a movement away to other parts of Canberra. I see the trend towards the New Acton and Braddon precincts, and, to a lesser extend, to Kingston Foreshore; there's a lot of revenue that's now going to those areas," he said.