The popular Auckland pub and live music venue The Kings Arms Tavern has been sold as a prospective residential redevelopment site for $7.4 million.
Bayleys today confirmed the sale - which could be bad news for music fans as the location was promoted as a redevelopment opportunity.
The new owner is very unlikely to continue the venue's operations, proprietor Maureen Gordon told Fairfax. However, she also told Fairfax the bar will continue to run for the next 16 months.
The Kings Arms has hosted a huge number of local and international artists in it's more than 25-year history including Mac DeMarco, The National, The White Stripes, Kurt Vile and St Vincent.
In the coming months the band is scheduled to host Angel Olsen, Peaches, and a double header of metal giants Marduk and Gorguts.