The comedian and the former Oasis star want to give upcoming artists the opportunity to showcase their skills in a new private members spot in north London, reported Daily Star.
It's thought that the pair are hoping to replicate the success of arty club Boogaloo in Highgate which is known for its trendy atmosphere and live music.
"The plan is to start a private members forum that will attract young professionals and upcoming artists to show off their talents. It was Russell's idea but Noel is fully behind it," a source said.
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