Why Newbury needs to back the Vault
Last week it was revealed that a new nightclub called the Vault will be opening in Newbury next month.
Located where Liquid was that closed six years ago, the new nightclub would buck the national trend which saw the number of clubs across the UK half between 2005 and 2015.
The figure according to the Guardian went from 3,144 in 2005 to 1,733. A recent Night Time Industries Association (NTIA) study also found the UK's night-time economy, which also includes restaurants and pubs, is worth £66bn and employs around 1.3 million people.
So with that figure alone echoing in people’s heads, there is a real need for the party-goers of the Town and Berkshire to realise how fortunate they are and to get behind this new venture.
NTIA listed the following benefits:
Business Rates (some go to local some national, soon all back to local)
Benefits to all Retail, day and night - high street shops, late night food, taxis,
Other businesses: graphic designers, record labels, management, Digital agencies (can’t undersestmate links to tech and fashion) , fashion designers and outlet
New craft beer and spirits explosion - along with food variety and enhanced through outlets, improving revenue, reputation and experience of all areas
New music artists - always show cased in new premises
New companies locating due to exciting, dynamic, day and ENTE activity
New flats and houses of new generation wanting to be in an area that is seen as more interesting, ‘hip’, current, up to date
Unlike many other towns of Newbury’s size, it is able to support a number of late-night bars and Kukui in Market Place. Even in a Vision 2016 report the Council admitted itself that it does need to develop a stronger night-time economy within the Town Centre.
That is something the taxi drivers on the rank at Wharf Street would also agree with given the rise in competition from ‘app-based’ operators they have recently faced.
If West Berkshire Council grant a licence to the new nightclub that is backed by the same team behind the Lava club in Swindon, it would serve drinks until 4.30am and would add a new dimension to the economy of Newbury.