Owners Simon Hendl (aka DJ-producer Downtown Brown) and Crowley sisters Antonia and Michelle will leave in the next few weeks.
Mr Hendl said it would be a bittersweet moment as the business had been central to their lives since they found the empty shell of the Church St site in late 2002.
"We designed and built it with our own hands alongside our builder mates. I can still remember the night before we opened when 20 friends turned up to help us finish setting up the bar and painting the walls. It was chaos, man!" They would not be severing all ties to the club and would continue to book Kiwi and international acts and help out Mr Murray, who was moving to Queenstown this week.
"There will be some continuity, but on the other hand I am excited to see what changes and improvements Jostan and his crew have in store for Subbies." He said the team was proud of the legacy of "progressive musical culture" created from years of acting as an outlet for alternative, bass-heavy music.
"We started Subbies up primarily because we wanted to be able to bring the music we love to Queenstown and present it in a focused venue with a wicked sound system and friendly vibes." Mr Hendl proudly noted some of the acts the 200-capacity club had hosted over the years, such as Shapeshifter, Kora and Fat Freddy's Drop, "now play to audiences of thousands around the world".
"Looking back, the most joyful and vivid of my Subbies memories are .. those magical moments you get every now and then, like 'Oh my god, I just remembered I am standing here in my own club while my DJ heroes The Nextmen, or DJ Revolution, or Krafty Kutz are here tearing **** up on our turntables'."
Likewise, Michelle Crowley - who performs as resident drum and bass DJ D-Jade - recalled too many musical highlights to name, from New Zealand to international acts.
She has plans to spend time making music and touring the country now she no longer has the night after night responsibility of the bar.
"I'm just really happy that we have found somebody who wants to keep Subbies the same .. it's the best we could ever have hoped for," Miss Crowley said.
Mr Hendl said issues like the reduction of late opening hours in 2008 and the "drinks discounting frenzy" of Queenstown had provided "their fair share of challenges".
However, he put the decision to sell down to family and shifting priorities.
"Nine years is a long time in the club business, and we just feel that it's time for change, time to channel our energy into other things."
For partners Antonia and Simon, the sale would mean fewer late nights away from their 17-month-old son Whiti, and time to focus on events such as their biannual Waitangi weekend Shotover Sunshine music festival.
Hendl also intended to devote more time to touring and recording with his group Sunshine Sound System, "and Antonia can say yes to more catering jobs for her company Kaiculture".
On behalf of all the owners, Ms Crowley wanted to say "a very big and heartfelt thanks to all the artists, staff and patrons who have helped to make Subculture such a special place".
As part of the handover celebrations, MC Tiki Taane will perform on Thursday night, an all-local Subculture Allstars line-up on Friday and UK drum and bass legend DJ A-Sides on Saturday.
