Why Euston 'could be the new Shoreditch'

Euston could be the latest area of London to experience the “Shoreditch effect,” according to one of the capital’s most prolific nightclub owners.

The neighbourhood is not usually considered one of the city’s more glamorous locations but a new venue opening near the station is hoping to attract a VIP crowd.

Stephen Less, 73, has invested in The Director Lounge amid plans for a £2 billion redevelopment of the area.

Mr Less, who hosted a teenage Princess Anne on her first outing to a nightclub and has welcomed stars such as Paul McCartney and John Lennon to his clubs, said: “Euston is not the obvious choice but I believe the area is on the up and it will attract the clientele.

“I have invested a lot but London is buzzing at the moment and the venue will become one of the capital’s most exclusive clubs.

“There is optimism in the area and the redevelopment of St Pancras and King’s Cross has shown what can be achieved.”

The £2 billion redevelopment of Euston Station as a hub for the planned HS2 line includes houses, shops and restaurants but is not due to start until 2017 and could take more than a decade to complete.

Mr Less, who advises local authorities on licensing issues, is also campaigning against crippling business rates threatening the capital’s entertainment industry. “They used to be a fraction of the rent but they are now almost the same as the rent,” he said.