In an absolute nail-biter, the owners of Last Chance have hit the target set in April.
Last month, Shane Hilton and Leanne Chance, the owners of the Last Chance Rock & Roll Bar, launched a campaign to save Melbourne’s beloved Tote. The legacy bandroom had been put up for sale, prompting distress from fans and fears that it would be converted into condos.
The couple started a fundraiser on Pozible and the stakes were high – in the all-or-nothing campaign, they needed to raise $3 million before the deadline. They had already contributed the same amount themselves by going into debt with banks and pulling from their own savings.
Last Chance to Save The Tote
- Last month, owners of the Last Chance Rock & Roll Bar set out on a mission to save the iconic Tote music venue from being likely sold to developers
- They started an all-or-nothing community fundraiser with the goal of raising $3 to put towards buying the space
- On the final day of the campaign, the goal was met and Tote owners are now in discussions with Last Chance to try to reach the asking price of $6.65 million
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On May 6, with 10 hours to go before the fundraiser closed, they managed to hit the target, giving them a whopping $6 million to offer in a bid to buy the Tote. As of today, the campaign has raised a total of $3,097,749.
However, the deal isn’t done yet – the current owners of the venue have taken to social media to reiterate that their asking price is actually $6.65 million.
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“The asking price allows for the mortgage, all liabilities and the current owners to be paid out fairly,” Tote owners Jon Perring and Sam Crupi said in a social media statement. “The reserve price was set to be fair but also realistic. The price is possibly even conservative by some measures.”
They congratulated Last Chance on their successful community campaign, but said the venue will remain on the market until “an agreement can be reached”.
“As there is a shortfall between the community pledges, the Last Chance equity and the sale price, Governments and possibly private philanthropy would need to come on board to bridge the current gap. The other alternative is to go back to the music community again.”
Despite business remaining unfinished, Shane and Leanne are extremely happy with their effort and are still as dedicated as ever to preserving The Tote.
“This has been a community gathering to make sure that a live music venue can live forever. A place where we can create, be who we are and express ourselves through art & music,” they wrote in a statement. “We can’t thank all of you enough.”
“Remember to go out and enjoy live music and everything it involves. It’s one of the most special things in the world. It’s not the walls that need protecting but what happens within them.”
The Tote owners say they are in “good faith discussions” with Shane and Leanne and urge those interested to stay tuned for further updates.
To keep up to date with the Last Chance Rock & Roll Bar’s bit to buy The Tote, head here.
