Pete Doherty has revealed that the Albion Rooms, the recording studio and creative hub he co-founded with The Libertines in Margate, Kent, has struggled financially since it began operating, though he insists the project remains artistically worthwhile.
The 47-year-old musician, who now resides in Normandy after previously living in Margate, spoke while touring with his other band, Babyshambles. He explained that the studio was created to address the rising cost of recording, giving bands an affordable place to make music and stay while doing so.
Doherty was candid about the venture's finances, stating:
"In terms of a business model, it's been a bit of a disaster. We're barely treading water, but in terms of the number of bands that we have coming through, we're really happy. As artists, we're seeing it as a success. As businessmen, it's been a complete disaster, but I love it."
He went on to describe the atmosphere the studio has fostered among musicians and creatives in the seaside town, attributing part of its appeal to an exodus of artists priced out of London.
"It's quite a vibrant place, as well, for musicians and artists... [There] was a wave of people who basically just couldn't afford to live or work in London anymore."
What was the Albion Rooms before it became a studio?
The Albion Rooms, situated on Eastern Esplanade, originally functioned as a public hotel before its transformation into a music-focused venue. According to a local Thanet news outlet, the hotel side of the operation ceased trading at the end of June 2024, after which the building was converted into a residential recording studio and events space, with its rooms then set aside exclusively for musicians using the facility.
Doherty described Margate's role in a broader creative migration pattern, characterising the studio as sitting at the end of what he called a "trail of creativity, out of London through Kent, along the estuary, then Margate's, like, the final stop."
How financially troubled is the business behind the studio?
Public filings shed further light on the scale of the financial difficulties Doherty referenced. The studio's operations are run through Libertines Recording Limited, a company registered at 88-90 Baker Street, London, according to Companies House records. Financial data compiled by business intelligence platform Endole show the company holding net assets of -£75.17K and total liabilities of -£97.43K, figures consistent with Doherty's description of a strained business operation despite its creative success.
The Albion Rooms' evolution echoes a wider trend of musicians and artists repurposing unconventional spaces to sustain creative communities outside major cities. Similar efforts have been documented elsewhere, including a Birmingham artist's revival of a historic pub combining art, food and community spaces, and an experimental music venue in Barrow-in-Furness that has drawn acclaimed artists through grassroots funding models.
What else has Doherty been doing in Margate?
Beyond the studio, Doherty has become something of a local fixture in Margate. He previously had his name added to a wall of fame at a café in the town after successfully completing a "mega breakfast" challenge in order to receive the meal for free.
What happens next?
Babyshambles are scheduled to perform at Margate's Dreamland venue on 30 August, giving Doherty another opportunity to return to the town where the Albion Rooms is based.
- The Albion Rooms is located on Eastern Esplanade in Margate, Kent.
- It originally operated as a public hotel before converting into a recording studio and events space, with the hotel side closing at the end of June 2024.
- Libertines Recording Limited, the company behind the studio, has reported net assets of -£75.17K and liabilities of -£97.43K.
- Pete Doherty, 47, now lives in Normandy and is currently touring with Babyshambles.
- Babyshambles are due to play Margate's Dreamland on 30 August.
