Arts and music hub The Bakery faces closure next year after the Northbridge property was listed for sale this week.
Not-for-profit alternative arts producer Artrage, which also runs the Fringe World Festival and Rooftop Movies, holds the lease at the James Street site until the end of next March.
Artrage chief executive Marcus Canning said The Bakery would host its Budgie Smuggler artists club at Fringe World in February before most likely closing.
The Bakery is the latest Perth music venue at risk as the National Trust WA considers expressions of interest for the future use of the Fremantle building occupied by the popular Fly by Night Musicians Club.
Many top Perth acts including Tame Impala, Luke Steele and The Panics have cut their teeth at the venue, which hosts artist Leah Singer and legendary American guitarist Lee Ranaldo, from the band Sonic Youth, in an art-music performance tomorrow night.
Mr Canning recognised the increasing commercial potential of the property as the Perth City Link progressed and he said The Bakery had had a good run since it was opened in a former patisserie in 2002.
“If I owned the land I’d be selling it about now,” Mr Canning said.
“We never intended this place to be an institution. In many ways it is the nature of venues that they don’t last forever.”
He hoped any future owner might consider maintaining it as a music venue.