The Bridgeway Hotel, The Lakes Hotel and The Maid Hotel, sold by Fahey Hotel Group to NSW hospitality business, Oscars Group

An Adelaide live music institution, which played host to AC/DC, Cold Chisel and Russell Crowe during the golden age of pub rock, has been sold to an interstate hospitality group.

The Bridgeway Hotel holds a special place in Australia’s rock history, with bands such as The Angels, Midnight Oil, Iggy Pop and Russell Crowe’s 30 Odd Foot of Grunts among the big names to have graced its stage. Picture: Brian Webber

A South Australian live music institution is one of three venues that have been sold to an interstate hospitality group.

The Bridgeway Hotel in Pooraka – which has played host to legendary bands including AC/DC and Cold Chisel since opening in the 1960s – has been sold to Oscars Group, one of NSW’s largest hospitality businesses.

Owned by SA’s Fahey Hotel Group, the historic venue, along with the Lakes Hotel in West Lakes and The Maid Hotel in Magill, is in the “process of being purchased” by Oscars, according to a leaked memo from the Fahey family to their staff.

The memo said the sale was an “incredibly difficult decision” but they were confident the new owners would make the pubs “even better”.

A leaked memo which announced the sale to staff indicated The Bridgeway Hotel, Lakes Hotel and The Maid Hotel are in the “process of being purchased” by Oscars. Picture: Instagram

“It’s with much emotion that the Fahey Family must announce the Lakes Hotel, Bridgeway Hotel and Maid Hotel are currently in the process of being purchased by the Oscars Group,” the family wrote.

“They want to expand to the Adelaide Market and judging by their current venues in Australia they don’t do things by halves with incredible venues.

“This has been an incredibly difficult decision for the family as the hotels have been part of our family for so many years.

“You, our team, mean so much more to us than just staff. We could not be prouder of what, together, we have all achieved in our time in these hotels.”

The Bridgeway Hotel holds a special place in Australia’s rock history, with bands such as The Angels, Midnight Oil and Russell Crowe’s 30 Odd Foot of Grunts, plus international acts including Iggy Pop, among the big names to have graced its stage.

In recent years, the pub has undergone significant renovations, its first since the 1980s.

The sale of the three hotels is pending approval from SA Consumer and Business Services and a handover is expected on August 4.

The Fahey family said they did not have any further information about the new owners’ plans for the pubs but they “would be very surprised if it was not very similar to business as usual”.

“They will open up new opportunities and growth that we cannot offer,” the memo said.

The Fahey Hotel Group will retain ownership of beloved SA venue, The Exeter Hotel, plus the Valley Inn in Hope Valley and Smoke Lovers Bar on Rundle St.

A spokeswoman for the Fahey Hotel Group declined to comment.