A group of passionate live music lovers have come together to save beloved venue The Tivoli from destruction.

The venue, which has been owned by the O'Rourke family since 1999, was earmarked for demolition with the property listing describing it as a "prime inner city development site".

Inside the Tivoli: the view from the stage

But after raising the required money a group, which includes former Brisbane Powerhouse producer Dave Sleswick, his brother Steven and Jerome Dalton from Dalton Catering, are committed to keeping The Tivoli as a live music venue.

With the seller already inking an agreement, the sale should go unconditional before the end of the month, securing the venue for music lovers for the foreseeable future.