The Pembroke, a £100 million private members' club, is set to open in Belgravia on September 1, 2024, sparking debate over whether London's club scene is in a golden era or a doomed bubble. The seven-storey, 53,000 sq ft venue is the largest and most ambitious social club ever seen in the capital, but sceptics warn of overcapacity as London's wealthy set is hollowed out by Labour's purge of non-doms.
Non-Dom Exodus Threatens Membership Base
Lawyers have advised non-doms quitting Britain to avoid higher tax rates to resign from clubs like Annabel's, Soho House, or 5 Hertford Street, as HMRC guidance lists club membership as evidence of UK residency for tax purposes. This has reportedly led to a rash of resignations just as new venues open. One rival operator commented: "There is just too much club capacity in London now, it will end in tears."
A Wave of New Openings
Despite concerns, the Pembroke is not alone. Other new clubs include the Leconfield in Mayfair, a business networking club backed by Robert Tchenguiz and former PM Liz Truss, with founding life memberships at £500,000. 40 Duke at Selfridges, Maslow's Kensington, NEXUS in Kensington, and Tramp Health in Grosvenor Square have also recently opened. According to an industry insider, eight or nine potential new openings are in early planning stages.
London: Club Capital of the World
London has between 130 and 140 private members' clubs, far more than any other city, with New York a distant second at 35 to 40. The concept originated at White's on St James's Street in 1693 and has been exported globally. The Abu Dhabi authorities are even consulting on creating a copycat version to lure wealthy UK nomads.
Can the Pembroke Succeed?
The Pembroke's entry-level annual fee for over-30s starts at £2,750 plus a £1,000 joining fee. Some believe the club can thrive with deep-pocket backing from the Oman Investment Authority. Luxury hospitality consultant Jamie Caring noted: "I know of several upscale clubs in London that still have long waiting lists." However, he warned the Belgravia location could be "sleepy" and the club lacks a clear USP like 67 Pall Mall's wine focus or the Groucho's arts scene.
One competitor criticised the Pembroke for obsessing over facilities rather than people: "You can’t build a community that way, and the best clubs are all about community." Membership director Julian Hogan described the club as "coming to your dotty auntie’s Belgravia townhouse," adding: "We really think it will breathe life back into London."
Gold Rush or Bubble?
Will Woodhams, the Harvard-educated CEO leading the Pembroke, called the recent openings "a bit of gold rush" but claimed thousands of membership applications have already been received. With the non-dom exodus and overcapacity fears, the question remains whether the Pembroke will join the ranks of historic clubs like the Reform or become a casualty of a bursting bubble.
