Libertines' studio a financial 'disaster' - Doherty

Pete Doherty has said the studio he set up with his band The Libertines in Kent has been "a complete disaster" in terms of making money.

The singer, who lives in Normandy, but lived in Margate for a number of years, said despite the finances, he still loved the Albion Rooms, which is located in the town.

The 47-year-old, who is now on tour with his band Babyshambles, said the idea was to give bands a place to record and stay because "everyone knows now, how expensive it is to record demo".

When it first opened the building, on Eastern Esplanade, operated as a public hotel.

Doherty said: "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.

"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."

Doherty said the studio was at the end of a "trail of creativity, out of London through Kent, along the estuary, then Margate's, like, the final stop".

The singer had his name inscribed on a wall of fame in a Margate cafe after he scoffed a "mega breakfast" to claim it for free.

Babyshambles are playing at Margate's Dreamland on 30 August.

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