Future of Vault Festival under threat after landlord tells them to find new home

The future of one of London’s most successful arts festivals is under threat after it was told by its landlord to find a new home.

The festival, which runs from January to March every year in the tunnels in Waterloo near Leake Street, has been advised by its venue-landlord, The Vaults, that it must find a new home for future festivals.

Having run in the then-derelict tunnels since 2012, Vault Festival said it had helped build the reputation of The Vaults over the past 11 years, showcasing around 3,000 shows to more than 400,000 audience members.

Vault Festival has launched a #SaveVAULT fundraising campaign with the goal to raise £150,000 by the end of 2023’s festival on March 19.

Director and co-founder of Vault Festival, Andy George said: “The response to the return of VAULT Festival in 2023 has been incredible.

“Over the past three years, as we’ve battled to survive through cancellations, postponements and a pandemic, it’s become extremely clear that the creative industry needs Vault Festival to thrive and the artists we champion need Vault Festival to springboard their careers.

“This devastating blow comes after three of the harshest and hardest years of the festival’s life but we’re determined to make sure this isn’t the end.

“We can only survive if we receive support, and I’m asking for your help. Help us make this the end of a chapter, not the end of VAULT Festival. Help us save Vault.”

The festival said the funds raised will support the organisation’s survival during this period of significant transition, be allocated to the cost of finding and securing a new home for the festival, and once found, help make that new home accessible to all.

Vault Festival, run by not-for-profit charity Vault Creative Arts, said it had repeatedly sought a long-term
commitment from The Vaults, but the venue is instead looking at other more “commercial projects”, which leaves VAULT Festival without a home for 2024 and beyond.

Donations can be contributed via vaultfestival.com/save-vault.

The festival is also beginning the search for a new home for its 2024 festival and beyond. To find and secure a new home, VAULT Festival are making an urgent call to any individuals or organisations that may have access to large 20,000+ sq ft spaces or multi- space venues in the wider London area to come forward.

A spokeswoman for The Vaults said: “Following todays announcement from Vault Festival we’re sad to confirm that this may be the last #vaultfestival at The Vaults.

“Before the pandemic we were able to support and subsidise Vault Festival, relying on large corporate bookings to see us through the year. But the world has changed, and those bookings are no longer able to be relied upon.

The festivals’ insistence on booking in future festivals in advance is a larger commitment than we’re able to give them in the current economic climate.”

Pictured top: The Vaults in Leake Street, Waterloo, where Vault Festival has taken place since 2012 (Picture: Vault Festival)