London’s The Coronet venue amazingly not to be turned into a shopping centre just yet

It will be reopened until at least January 2018

It’s been a tough year few years decade for London music venues, but today brings a little good news.

The Coronet in Elephant and Castle, which previously announced its closure, has confirmed that it will be able to stay open until at least 2018.

The theatre, which is 137 years old, has long been under threat due to development plans for a shopping centre next door being worked up by the landlords, NME reports, with a campaign to save it proving unsuccessful.

Today however, The Coronet said in a statement: "We are delighted to announce that we have accepted an offer to extend the future of the Coronet for one more year!"

"2016 has been an exciting year for us, featuring many memorable live shows and club nights and showcasing our versatility as a venue. Then just as the team were preparing for the last hurrah, this reprieve has re-ignited the engines. We hope to make 2017 even bigger and better than 2016 and make it a truly fitting farewell to this magnificent building, which is filled to the brim with musical history."

"We hope that over the next 15 months we will welcome you to enjoy this iconic venue with us, a stalwart of the South London entertainment scene for nearly 140 years."

First opened in 1879, the theatre turned music venue has seen everyone from a young Charlie Chaplin to Danny Brown grace its stage.