Speculation has been building about a forthcoming takeover of London nightclub, Heaven, by G-A-Y, the clubbing brand owned by promoter Jeremy Joseph.

The news follows reports that G-A-Y will be soon be forced from current home, London’s Astoria on Charing Cross Road, so it can be demolished as part of plans for a new Crossrail station, which have recently been given the go-ahead.

Mr Joseph refused to comment directly for legal reasons but told PinkNews.co.uk: “I’m always looking for venues. It’s a matter of finding the right ones.”

He added: “It’s like buying a house. Until it’s all gone through, it could fall through.”

The Pure Group, who run Heaven, were unavailable for comment.

G-A-Y which, which occupies The Astoria on Monday, Thursday, Friday and Saturday nights for different events, regularly attracts mainstream pop acts such as Madonna, Kylie Minogue and Westlife.

Heaven, situated in the arches beneath Charing Cross train station, became London’s most famous gay nightspot when it opened in 1979, attracting stars such as Grace Jones and the Eurythmics to perform there.

The club also sparked outrage from The Sun for hosting seminal acid house club, Spectrum, in the 1988.

In recent years, however, its popularity has waned with increased competition from clubs in Vauxhall and Westminster Council’s stringent crackdown on drug-taking have deterring clubbers.

The G-A-Y franchise includes two other bars, G-A-Y Late located just off Charing Cross Road and G-A-Y bar on Old Compton Street in Soho.

The MAMA group, owners of the Barfly music venue chain and the management company of top British bands such as the Kaiser Chiefs, recently bought a 75% shares in Manto Soho Limited (MSL), the company which operates G-A-Y bar and G-A-Y Late.

Ghetto, a gay club on Falconberg Court, just off Charing Cross Road, is also facing closure because of the Crossrail station.