The Chin family, which has operated the live music venue for more than 30 years, placed it on the market at the weekend, with the hope of either selling or leasing the business.
The venue was opened by late Dunedin businessman Eddie Chin and his son Sam in 1983 in the former His Majesty's Theatre at 65 Crawford St.
However, after 30 years, it was time to call time, Mr Chin said last night.
''I'm looking at getting out, because I'm too old now. But I'd like to see it keep going as a live music and band venue, rather than getting turned into offices or something.''
The building is advertised as ''1500m2 with frontages to Crawford and Vogel Sts, located in the heart of Dunedin's rapidly developing warehouse precinct, it lends itself to a multitude of uses''.
Mr Chin said he did not have a price in mind and would be considering all offers.
''We'll see what someone's prepared to offer, then we'll sit down with the family and talk about it.''
The Dunedin City Council rating information database, established by Quotable Value New Zealand Ltd, rates the land value at $490,000 and the capital value at $520,000 for the 2015 financial year.
The property owners are listed as Samuel Hang Hup Chin, Hing Yum Chin, Jones Hang Chong Chin, Henry Hang Yee Chin, Sonny Hang Sun Chin and Sue Zing Chin-Sew Hoy.
The building is for sale or lease, with expressions of interest invited by August 30.
