London's private members' club scene is at a crossroads, with a potential bubble forming amidst a surge in openings. This summer, the city braces for the launch of The Pembroke, a grand Victorian building in Belgravia, which aims to be the capital's largest and most ambitious social club. However, concerns are mounting about the sustainability of this boom, especially with reports of non-doms resigning their memberships to avoid higher tax rates.
The Pembroke's launch comes at a time when London's clubland is already saturated with options, with estimates of over 130 private members' clubs in the city. This raises questions about the demand for such exclusive spaces and the potential for an eventual consolidation or closure of clubs. Despite the boom, there have been few closures, with The Hospital Club being a notable exception during the pandemic.
So, what drives this trend? Some argue that in an era of shallow social media connections, the appeal of real, tangible connections in a 'third space' has grown. London's private clubs have thrived in three distinct waves, from the classic gentlemen's clubs of the 19th century to the lifestyle clubs inspired by Soho House and now, the wellness and specialist interest clubs.
The private members' club concept, invented in London, has been exported globally, with New York being the closest rival, boasting only an estimated 35-40 clubs. London's influence is evident in Manhattan's Soho House outposts and other British-inspired clubs. However, with an entry-level annual fee of £2,750, plus a joining fee, The Pembroke faces the challenge of attracting members at a time when the capital may be experiencing an outflow of potential patrons.
Some industry experts believe The Pembroke, backed by the Oman Investment Authority, could thrive if given time to establish itself. Others argue that the club has yet to demonstrate a unique selling point, focusing too much on facilities rather than community-building. The location in Belgravia, known for its sleepy atmosphere, may also work against it, as the best clubs flourish in vibrant, bustling neighborhoods.
The Pembroke's launch marks the end of a seven-year journey, with a £100 million investment transforming the former residence of a Liberal prime minister into a new sybaritic temple. With thousands of membership applications already received, the club aims to breathe life back into London, offering a unique experience akin to visiting a dotty auntie's townhouse. Only time will tell if The Pembroke can establish itself alongside London's grand old establishments, but the future of the city's private members' club scene remains an intriguing question.
