Sydney's iconic Sandringham Hotel — aka The Sando — looks likely to be redeveloped into an apartment complex, according to The Music Network.
Expressions of interest for the hotel, which has been the subject of a passionate Save Our Sando campaign, closed yesterday."We have tried a number of times to bring the bank to the table," owner Tony Townsend told SmartCompany, "and we have actually made a few offers to the bank and at this point of time they are going to take it to due process.
"We've worked through a number of solutions since that letter of demand but it's very difficult when you have a scenario of interest jumping from $16,000 to $48,000 per month plus other costs, such as the receiver's costs and legal costs.
"It's just a recipe for disaster, especially when you put your hand out to the bank and said we are in trouble, we need you to give us a hand, that's the sort of hand we got given."
Needless to say, if this really is the end of The Sando, this is a dark day for the Sydney music scene.
