The Last Chance Rock & Roll Bar‘s fundraising campaign to purchase fellow Melbourne live music venue the Tote Hotel – saving it from a likely sale to redevelopers, and the building being demolished for apartments – reached its target over the weekend.
The target of $3 million in pledges from the public was met just before midday on Saturday (6th May). Celebration was short-lived, however, as the Tote’s current owners issued a statement in which they said the venue “remains for sale until an agreement can be reached.”
The Tote’s Current Owners Say the Venue “Remains For Sale Until an Agreement Can Be Reached”
Back in March, Tote co-owners Jon Perring and Sam Cupri announced the Collingwood pub had been put up for sale, saying they had “no petrol left in the tank” to continue operating the venue, citing the stress of navigating it through the COVID-19 pandemic in recent years.
The same month, the Last Chance’s Shane Hilton and Leanne Chance launched a Pozible campaign, explaining that they were able to independently raise 50% of the “6 to 6.6 million dollar” asking price, but were reaching out to the community to crowdfund the remaining half. The target was set at $3 million dollars.
“We’re hoping to sell enough merch, good times and a future to raise the capital needed to purchase both the building and the business and save the Tote forever,” the Last Chance co-owners said in a statement at the time. “It’s a fucking huge task. But we’d hate ourselves forever if we didn’t try.”
After the target was met on Saturday, the Last Chance shared a statement on social media thanking contributors for their pledges. “We just want to say thank you. To all of you. Every single one of you. You have done this. This has been a community gathering to make sure that a live music venue can live forever,” they wrote.
“A place where we can create, be who we are and express ourselves through art & music. We can’t thank all of you enough. Whether you’ve contributed emotionally, with your time, financially, with your words or with absolutely any support in any form it’s been you who has made this possible. It’s mind blowing what you have all done.”
They concluded: “It’s not the walls that need to protecting but what happens within them. For us this is just half the battle. We hope that we can be the custodians that the Tote deserves.”
Around the same time, the Perring and Cupri shared a statement on the Tote’s social media, thanking those that pledged to the campaign but affirming that the current asking price for the venue is $6.65 million, a figure “based on the land value” and “backed by a recent independent valuation.” As a result of the shortfall between the asking price and the $6 million the Last Chance were able to raise, the Tote’s current owners said the venue has not yet been secured by Hilton, Chance and the community.
“The asking price allows for the mortgage, all liabilities and the current owners to be paid out fairly. As a way of background, the Tote has refinanced several times to get it through the pandemic, the cost of which is factored into this price,” Perring and Cupri added. “It wouldn’t be here today if these steps hadn’t been taken to get the Tote through this crisis. Hence, the reserve price was set to be fair but also realistic. The price is possibly even conservative by some measures.”
“The Tote is open to such a discussion and is also keen to make this sale occur. In the meantime, by necessity, The Tote remains for sale until an agreement can be reached. Discussions will continue in good faith with Last Chance so stay tuned.”
The Tote’s statement was met with backlash on both Facebook and Instagram, with many criticising Perring and Cupri’s seeming unwillingness to accept the $6 million raised between the Last Chance and community supporters. Comments have since been turned off on the Instagram post. The Tote had publicly shared support for the Last Chance’s campaign as recently as an hour before it hit its fundraising goal.
Melbourne hardcore punk band Uncle Geezer were booked to play at the Tote on Saturday night. Once onstage, they ended their set extremely prematurely, showing their disdain for the Tote’s recent comments.
According to writer and broadcaster Jess Lilley, the band “played one note then said ‘unfortunately that’s all you’re gonna get.’” Footage from the brief set shows the band criticising Perri and Cupri, adding: “Fuck this place.”
They concluded by spruiking a show they had the next day at the Last Chance, where fans could watch their whole set. The Last Chance then announced that someone had bought every ticket to that Sunday show, meaning it was free for all punters who wished to attend.
Speaking to The Age on Saturday, Hilton said he and Chance would “deal with whatever else arises” during negotiations for the venue’s sale. “It’s an amazing example of what this community does, it really is. I can’t express the admiration I have for everyone out there, it’s blown my mind,” he said. “We’ll sit down with Jon and Sam and try and get the sale through.”
Hilton added that he is “certain” an agreement can be reached, and that he is “100 per cent confident we’ll be the new custodians” of the Tote.
Further Reading
Melbourne Venue The Tote Is Up For Sale
Melbourne’s Last Chance Rock & Roll Bar Launches Pozible Campaign to Buy The Tote
Pozible Says ‘Last Chance to Save The Tote’ Campaign is the Biggest in Live Music History
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