Beloved Sydney venue The Basement is shutting its doors, according to local musician Danny G Felix.

The venue, which has been open for 45 years, will reportedly shut in less than a week.

“So it’s true.. The Basement is closing down in less than week,” wrote Felix on Facebook.

“AMP the owners of the building are turning it into office spaces after 45 years of live music almost every night. So tomorrow night will be the last Monday jam at the basement. Lets make it a good one.”

The Monday jam has been going on since 2010, and will hold its last session tomorrow night. It is now looking for a new home.

There are still gigs booked for The Basement until September. Dami Im, Diesel, CBD and more all have concerts booked for the next few months. It’s unknown whether these shows will be relocated.

The venue is yet to confirm whether or not it will close. Music Feeds has reached out for comment.