"What if a venue was as valuable to the landowner as turning it into flats and houses? What if, when a venue was supported, those businesses and residences around it would benefit economically? Land value would increase; more traders would open." Local pubs, restaurants, take aways, taxi firms, buses and public transport, PAYE from employees, VAT on sales, business rates, corporation tax on profits, rent ..... all add to a much bigger 'value'
More from Shain Shapiro here http://www.citymetric.com/business/are-music-venues-valuable-houses-and-can-we-prove-it-1486