Eight fire engines and around 60 firefighters worked to get the fire under control, according to the London Fire Brigade. Videos from the scene show smoke and flames billowing out from the roof.
Koko, previously Camden Palace, is currently closed for "major state-of-the-art transformation," according to its website. It was set to reopen in the spring.
The music venue located in Camden, north London, is famously known for hosting many big name music acts, including Madonna, Prince, Kanye West and Bruno Mars. The building was originally opened in 1900 as the Camden Theater.
London Fire Brigade said that 22 people called the emergency line to notify officials of the fire.
"Hard work and dynamic action has helped prevent significant escalation and fire spread," Jonathan Smith, assistant commissioner for brigade control and mobilising, tweeted. "We will have a presence throughout the night to ensure a safe resolution to the incident."
Others on social media shared their sentiments for the popular venue.
"Heartbreaking watching the Camden Palace / Koko up in flames this evening, a building that holds so many memories and means so much to us in Camden," Georgia Gould, councillor for Kentish Town Ward, tweeted.
The cause of the fire is still under investigation.
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