OXFORD'S student night club the Purple Turtle will close next week after failing to reach an agreement on a new lease. 

The venue has cancelled all events after Saturday, November, 24 after being asked to vacate the premises by landlords the Oxford Union. 

In an update posted on Facebook this afternoon, the managers of the club said negotiations on securing a new lease have collapsed, leaving them with no choice but to move out by November 30. 

They have promised to try and find a new home for the club in a different location. 

UPDATE - 'Exciting' new tenant being lined up for Purple Turtle

Events affected include the club's annual New Years Eve party and regular weekly club nights. 

The statement said: "As some of you may know we have been negotiating our new lease with the Oxford Union over the last few months and unfortunately much to our disappointment we have not been able to come to an arrangement that would allow us to remain in Frewin Court, our home for the last twenty years.

"We've been asked to vacate the premises by the 30th of November, yep, that's in two weeks.

"So, this week is our last, at least here anyway, we will be back once we find a new home and we hope you'll all come along with us after all it's never been the building that makes the Turtle, it's the Turtle that makes the building.

"We've always striven to create an inclusive, fun and safe environment for you all to party and that will never change wherever we are.

"We'll keep you posted with our all of our latest developments right here, as for now all future events after Saturday the 24th of November running up to and including new years eve are hereby, heartbreakingly cancelled.

"We'd like to say a massive, massive thank you to all of our Staff, DJ's, Promoters, Bands, and most importantly Customers who've made this one of the most special venues in Oxford.

"We hope you'll all join us this week to give our old home the send off it deserves.

"Thanks again for everything."