The Five Dock-based independent brewery will continue operating the popular Newcastle West venue as a restaurant and bar, but also has plans to build a brewery onsite, capable of producing 100,000 litres annually.

"We've always had a very strong following in Newcastle, and it always felt like a natural next location," Akasha CEO Dave Padden said.

"We were looking for a ground-up venue, but then I met [The Edwards] co-owner Chris [Joannou]. When we first met and he walked us through The Edwards, we hit it off as we share very similar views on life and hospitality. It was all I imagined and better."

Joannou - who was a member of world famous Newcastle rock band Silverchair - first opened The Edwards with business partners Tim Leveson and Chris Johnston in 2014 after he converted the warehouse space which once housed his parents' dry-cleaning business.

The Edwards quickly became a popular hospitality venue before fire gutted the Parry Street premises in 2018 and forced its closure for a year. The COVID pandemic was another hit to the business, but The Edwards bounced back strongly.

Last year Joannou sold his Carrington home for upwards of $1.6 million and bought a $3.2 million acreage near Coffs Harbour and relocated to be closer to his wife Karissa's family.

He still co-owns Carrington's Criterion Hotel and the restaurant Flotilla in Wickham. The ex-bass guitarist will remain involved with The Edwards during the transition to Akasha.

"I'm going to be sticking around and joining in on all things The Edwards," Mr Joannou said. "The venue will always hold a special place in my heart, and no doubt will always be in my life in some way."

Padden founded Akasha in 2015 and two years later it was crowned the Best Brewery in Australia by trade website RateBeer.

In October 2022 Akasha opened a barrel room in Norton Street, Leichhardt. Its best known beers include the Hopsmith IPA and Freshwater Pale Ale.