As one of London's most iconic venues, it has hosted a range of celebrities and even members of the royal family over the years.
But now Kensington Roof Gardens has decided to close its doors - as owner Sir Richard Branson says it's struggling to make any money.
His company Virgin took control of the venue in 1981, but will not now renew its lease agreement at the Grade II listed site.
Kensington Roof Gardens, one of London's most iconic venues, has closed its doors after nearly four decades
Announcing the closure of the venue, the company said in a statement: 'In an ever changing London market The Roof Gardens has stood the test of time but in the face of unpredictable market conditions and a challenge to remain profitable, we feel that the time has come for us to close our doors.
Sir Richard Branson's Virgin bought the site in 1981. He is pictured here at the Roof Gardens in 1984
'We are certain The Roof Gardens will continue to be one of London’s most spectacular and extraordinary landmarks and look forward to seeing what’s next for this beautiful venue.'
The sudden closure of the venue marks an end of an era for the celebrity haunt, with the likes of Madonna, Kate Moss and the Duchess of Cambridge having previously graced it doors.
Here, FEMAIL takes a look back at the history of the party venue over the years...
Richard Branson's Virgin took control of The Roof Gardens in 1981, with the site having previously been home to the Derry and Toms and Biba department stores.
Not long after its grand opening, the venue quickly established its reputation as being an exclusive celebrity hang-out.
Madonna was among the famous faces to be snapped at The Roof Gardens during the 1980s, hosting a press conference for her 1986 film Shanghai Surprise there alongside former Beatle George Harrison, who was a producer on the movie.
Madonna hosted a press conference for her movie Shanghai Surprise at the Roof Gardens in 1986, alongside former Beatle George Harrison who was a producer on the film
In the same year, Queen lead singer Freddie Mercury performed a duet with ex glamour model Samantha Fox at an after-party for the band's sell out Wembley concerts
Rolling Stone's Keith Richards was also snapped at the Roof Gardens back in 1986
In the same year, Queen's lead singer Freddie Mercury performed a duet with singer and former glamour model Samantha Fox, at an after-party for the band's sell-out Wembley concerts.
Various members of The Rolling Stones have also been snapped at the Roof Gardens over the years, including Keith Richards.
In 1998, Kate Moss was snapped looking rather worse for wear at a party at the Roof Gardens to celebrate Storm Model Agency's 10th Anniversary
Fellow model Claudia Schiffer also put in an appearance at the celebrity haunt in 1994, along with her then partner David Copperfield
It was the decade of the supermodels, and the 1990s saw a number of faces from the catwalk partying at The Roof Gardens.
In 1998, Kate Moss was seen looking rather worse for wear at the Storm Model Agency's 10th Anniversary Party.
Fellow model Claudia Schiffer was also seen at the celebrity haunt, along with her partner at the time David Copperfield.
In 1991, Celine Dion hosted a party at the Roof Gardens to celebrate her one million sales in the UK.
In 1991, Celine Dion hosted a party at the Roof Gardens to celebrate one million sales in the UK
The Duchess of Cambridge, then known as Kate Middleton, was spotted making an appearance at the Roof Gardens in 2006
She was seen dancing away with Prince William's close friend Guy Pelly at the WTA Tour's pre-Wimbledon party
Prince Charles and Camilla Parker Bowles attended the glitzy Fashion Rocks party hosted at the exclusive venue in 2003
Moving into the 2000s, the Roof Gardens became even more popular with celebrities from all walks of life - as well as members of the royal family.
Before she became the Duchess of Cambridge, Kate Middleton was snapped taking to the dancefloor during the WTA Tour's pre-Wimbledon party in 2006 with Prince William's close friend Guy Pelly.
Three years earlier, Prince Charles and Camilla Parker Bowles attended the glitzy Fashion Rocks party hosted at the exclusive venue.
Other famous faces to make an appearance at the popular haunt included Liz Hurley
Former 'It' girl Tara Palmer-Tomkinson and Blue's Duncan James were also pictured outside the venue in 2003, along with presenter Tess Daly and her husband Vernon Kay
Other celebrities to attend the glamorous event included model Liz Hurley and presenter Tess Daly, along with husband Vernon Kay.
Former 'It' girl Tara Palmer-Tomkinson was also snapped at the venue along with Blue's Duncan James.
Cheryl attended Ant and Dec's joint 40th Birthday party at the Roof Gardens in 2015
Others snapped at the venue include Amanda Holden in 2015 and Denise van Outen in 2012
Famous faces from the world of TV and music continued to party at The Roof Gardens in the 2010s, with various showbiz bashes and charity galas held at the venue.
Cheryl was among the celebrities snapped outside the hangout, attending Ant and Dec's joint 40th birthday party in 2015.
Others stars to have been pictured there include the likes of Amanda Holden, Alesha Dixon and Denise van Outen.
Tennis star Maria Sharapova also put in an appearance at the celebrity favourite for the WTA Pre-Wimbledon Party in 2014.
Maria Sharapova attended the WTA Pre-Wimbledon Party at the Roof Gardens in 2014