It will be situated at the former New New New brewery, in Crawford St, and will be named Errick’s.
Owners Mili Oxley Lobo and Baden Oxley, along with family members Ed and Michelle Lobo, said it was long overdue news that Dunedin crowds and artists had been craving, and it was now no longer just a pipe dream.
Mrs Oxley Lobo said Errick’s aimed to fill the gap in medium-sized live music venues, left by the closure of places such as Sammy’s.
While live music and touring bands were a big focus for the venue, it would also be designed to host almost any type of function — from corporate and conference events, to weddings and other celebrations.
She said the days of single-purpose venues of this size in Dunedin no longer existed.
"We knew right from the start that if the venue was going to be sustainable long term, it had to be able to handle a broad range of functions.
"One of the fantastic aspects of the location is the superb luxury on-site accommodation as well."
Dunedin Live Music spokesman David Bennett was delighted with the announcement.
"If they can strike the right balance and make it worth the while for New Zealand artists to come down by providing the correct facilities and support the needs of touring bands, then I think it will go really well.
"There is a definite need in Dunedin for that.
"I think it’s fantastic seeing the community taking the initiative and trying to solve the city’s needs."
Mr Bennett said it would also be a great facility for "home-grown" bands to perform.
"It will definitely support the local music scene."
The Lobo family have also been the driving force behind the sellout Dunedin Lobofests.
Their festivals have hosted artists from Australia and Europe, as well as New Zealand and local acts — the most recent being The Black Seeds in February this year.
Ed & The Shadow Boys production company owner Ed Lobo said he would be responsible for all venue bookings, as well as promoter, logistics and artist support.
"We are going to make sure we have great sound production, staging, backline lighting and audiovisuals.
"It’s going to be awesome."
Mrs Oxley Lobo said Errick’s would officially open with a "superb" New Zealand act on December 2.
"It’s a secret for now. We’ll be revealing it later this month."
In the meantime, the venue would be holding a "soft opening" with a "private dress rehearsal" show by New Zealand singer Hollie Smith in October.
