Koko’s first gig since reopening as Arcade Fire on Friday evening

CREATING memories that stay forever doesn’t come cheap.

For music impresario Olly Bengough, the price tag hit the £70million mark this week as he welcomed the first guests in to experience the long-awaited reopening of Koko.

The famous Camden High Street music venue, which has undergone a seven-year refit, saw rockers Arcade Fire usher in a new era on Friday.

Mr Bengough told the New Journal at the heart of the project was his aim to create unforgettable musical experiences.

“You want to see your favourite artists, be in that room and feel like you can disappear into the music and connect with the performers,” he said. “You want to be in a place that helps that magic happen. It is what makes live music so special. That is what we have created at the new Koko.”

The venue includes a four-floor extension with a range of smaller clubs and stages, a roof-top bar and a flexible main auditorium. Other features include radio and recording studios, and state of the art broadcast services so live gigs can be watched globally.

Mr Bengough said: “There is so much content out there for people to enjoy in a multitude of different ways, but when you hear live music you are there, in that moment. It is so rich, it is a whole different level of experience. You connect with people and that energy is unrepeatable. .”

More than seven million people have stood gazing up at the famous Koko stage since Mr Bengough took hold of the keys in 2005.

His first big move into the music industry came back in 2003 when he programmed the landmark Love Box festival on Clapham Common.

He recalled: “There were no prominent music festivals in Clapham and not many in public parks taking place. I put together a team and Clapham Common gave us permission. I didn’t know how it would go but we sold 10,000 tickets in the first three days of announcing it and from that moment I was in the music industry.”

The project’s mastermind Olly Bengough

Aged just 25, he would go on to book huge acts that attracted 50,000 people over the weekend.

After Love Box’s success, Mr Bengough was asked if he wanted to have a look at what was a decrepit theatre.

He said: “The place was completely falling down. There was no live music at the Camden Palace. It was used for club nights and in a state. I was intrigued by its character and history. I had the festival, it was working and I thought – I can do this.”

After walking round the theatre, and soaking up the atmosphere of a 100-year-old venue that had hosted truly global names, he decided he could make it work.

“There had been no live music from 1999,” he said. “It needed a new direction and a new vision and we spent two years restoring the venue. It was a big job.”

He recalls how The Roundhouse had not opened and the Brit Pop era was ending.

Instead, Koko opened as a new wave of Camden music icons emerged.

He said: “There was not much happening around here at the time. We restored the venue and then Amy Winehouse was coming through. She was playing on our new nights, and we got lucky.

“There was a synergy coming through. We launched Coldplay’s XY album, and Madonna did the same, so we had two huge LP release parties that year. This run-down old theatre had two massive launches and then Amy came in and we went on this extraordinary 15-year run.

“We had seven million people through the doors and more than 500 massive acts, and we did all this from nowhere.”

Arcade Fire were the first act to get back on the Koko stage [Ant Adams]

Restoration work has spruced up original designs from 1900 and a cupola on the roof, which was damaged by bombs in the Second World War, has been turned into a bar.

The run-up to Friday’s opening night saw Mr Bengough juggle the serious business of opening on time while trying to contain his mounting excitement.

He said: “We have been working day and night. There is a real buzz amongst everyone.