Pryzm Watford will be closed by the first week of January, an estate agent has said.

Despite signing a five-year lease extension to save the venue at the end of last year, Watford’s biggest nightclub appears set to move out by January 5, 2024.

The 2,500-capacity super club in The Parade, alongside Steinbeck and Shaw in the unit and ten parking spaces, is on the market at a guide price of £6,000,000 to be sold with vacant possession.

Estate Office Property Consultants, which is selling the property, told the Watford Observer that Pryzm will need to have vacated the site by the January 5 date, when the lease will end.

It is understood that the five-year lease agreement included a break-clause.

A spokesperson on behalf of Pryzm Watford said: “We are meeting with the landlord and discussing our options for the site, but are aware the building is up for sale. 

"Business in Watford has been incredibly tough over the past 12 months, with other venues already closing their doors, and we are not immune to these challenges, so we have to consider all options.”

A plan for 147 homes at the site had previously been put forward but it was rejected in July, last year, after hundreds objected to the plan and signed a petition to save Watford’s nightlife.

Watford Observer: Pryzm WatfordPryzm Watford (Image: George Kirk/Watford Observer Camera Club)

Watford mayor Peter Taylor said the closure would be a “sad loss” for the town.

“Last year, an application to build on the site was refused by Watford Council, but unfortunately it is clear that this was not enough to save the club and it now seems the site will be sold to a new developer,” he added.

The mayor highlighted the continuing support given to businesses and Watford’s Purple Flag status for its quality nightlife but admitted “sadly, we won’t be able to save every venue”.

“For now, I want to thank the team at Pryzm and its predecessors who have helped create so many memories and friendships over the years.”

Watford MP Dean Russell said: “If the reports are true, the announcement would be deeply frustrating for Watford and I would urge everyone involved to look at how we could save the nightclub for the sake of our town’s nighttime economy.

"In my recent discussion with the owners of Pryzm, REKOM, I understand no final decision has been made so I will continue to offer to do what I can to keep the nightclub open.

“I am also aware that attendance has been reduced this year which does seem to be a national trend but does not mean nightclubs don’t continue to hold an important role for young people everywhere.”

He added that he was proud of last year's campaign to save the club, particularly because of its importance to taxi drivers and small businesses.

The MP said he will keep doing all he can to help protect the town’s nightlife, adding: "I feel it would be a shame if we lost an iconic part of our history simply to be replaced with yet another tower block which will do nothing to contribute to the footfall in our town or protect jobs and livelihoods."