Thanks to the lockout laws, it seems like Sydneysiders can’t go a week without reading about another venue shutting their doors or re-branding to a daytime business – and now one of Darling Harbour’s longstanding venues is also up for sale.

After 16 years on the waterfront, Cargo Bar is on the market. Keystone Group – who also look after Kit & Kaboodle and Sugarmill – expect that demand will be high for the property, although the future of the location is still up in the air. According to the Sydney Morning Herald, “the decision to sell Cargo is to underpin the future growth plans for the group. These will include an expansion of its burgeoning wine bar and restaurant businesses.”

It’s no surprise that with Sydney’s struggling nightlife scene, Keystone executive chairman Richard Facioni is also looking down south to expand his business. “We are now being presented with a number of exciting opportunities across the country, including in Melbourne where we currently have no presence. The sale of Cargo will allow us to accelerate some of those growth plans,” he said.

Cargo Bar’s premium Darling Harbour location made it a wildly popular nightspot with both locals and tourists, hosting regular sets from Sydney club favourites like Nes, DJ Chardonnay (Wordlife/Motorik) and Fingers.

Meanwhile, a Reclaim The Streets rally is scheduled to take place this Saturday afternoon, marching from Town Hall to The Star casino.