The Annandale Hotel has been sold to a “prominent Sydney publican” and its receivers are urging people to go and have a beer there.

Sale contracts for the much-loved music venue were signed on Thursday morning, the pub’s receivers Ferrier Hodgson have confirmed. The identity of the new owner has not been released.

Reports a sale was imminent surfaced earlier in the week but they incorrectly identified a residential developer as the buyer.

Ferrier Hodgson partner Morgan Kelly said the company had been inundated with emails since the keys to the live music venue were handed to them in February as the business went into receivership.

“During the course of the receivership and the sale campaign, many supporters expressed their concern for the future of the Annandale via email,” he said.

“I’d encourage all those supporters to demonstrate their commitment to the future success of the Annandale by visiting the pub and buying a few beers.”

The Annandale has played an important role in Australian rock for decades with some of the biggest names in the world, as well as legendary bands on the local scene, gracing its stage.

It was owned by the Rule brothers, Daniel and Matt, when its financial troubles began a few years ago after disputes with the Leichhardt Council and arguments over licences.

In 2011 they raised about $50,000 through a buy-a-brick campaign to pay for renovations but last February the brothers quietly handed the keys over to Ferrier Hodgson with millions of dollars worth of debt.