The Australian music community is rallying behind beloved Sydney live music venue Frankie's Pizza By The Slice as it faces demolition.

Yesterday the venue issued its first public statement around the news it would be demolished to make way for a train line.

“The long and short is this; Frankie's Pizza as we know it will be demolished, we have AT LEAST a year left to party though, and that we will. Big time,” reads a post on the venue’s Facebook page.

“We are taking this opportunity to push all of our energy and resources into making more memories with our beloved Sydney, its people and its visitors, while we still can! 

“We are adding more bands, more bills, big events, collaborations, and all the late night revelry you would expect from one of the world's great rock’n’roll institutions.”

Since then, a petition has been launch to save the music venue, and at time of publishing, it’s already quickly approaching its goal of 5,000 signatures, sitting at just over 3,000.

Its description reads: “If anyone has ever walked down those stairs into the distinct smell of Frankie's, a mixture of pizza, sweat and rock’n’roll, you'd know that you've instantly walked into a special place. 

“This place is an icon and a place where musicians (local and international) have come together to share a round. 

“We can not simply just move Frankie's to a new venue, we must preserve the venue it has become. A venue like this can not be made overnight, it has created its own character, its own uniqueness and has drawn in people from around the world from all walks of life together around music (and apple whiskeys).

“If we can get enough signatures we have a chance for them to understand how important this place is and how important this place has become. 

“Sydney has lost so much of its music culture and we can not lose this icon. Singularly we can't do it but together we can.”

Speaking with Sydney Morning Herald last week, NSW Transport Minister Andrew Constance said the goal was to relocate the venue.

“Frankie’s is an important part of Sydney’s live music scene and we will make sure it is properly supported during this challenging time,” Constance said. 

“Sydney Metro is assigning Frankie’s a dedicated acquisition manager to guide them through this process and to help find another location.”

For all upcoming gigs at Frankie’s, head to theGuide.