THE floating nightclub, the Tuxedo Princess, is to sail off into the sunset, bringing the curtain down on a party lasting almost a quarter of a century.

During its 23 years on Gateshead quayside, the former car ferry became a haven where drinkers could rub shoulders with the rich and famous.

For a generation of revellers, "the boat", with its revolving dancefloor, was the epitome of glitz and glamour. No wonder some call her the love boat.

But Gateshead Council believes the Princess has lost her charm, and is looking "tired".

The ship, with her great white hull, flags, red painted ceilings, cheap drinks offers and revolving dance floor, doesn't fit the council's vision of Gateshead in the new millennium.

In fact, the council can't wait to see the back of the Tuxedo Princess.

Ian Mearns, the council's deputy leader, said: "From the council's perspective, this is a very positive development.

"Times change and the boat doesn't really fit into our vision for Gateshead and the ongoing quayside developments."

The Northern Echo reported yesterday how owner Absolute Leisure has reluctantly agreed to the move, announcing a £10m plan to replace it with a building including 50,000sq ft of office space and four restaurants.

As for the Princess, her Prince Charming has just a few months left if he is to arrive to save the day.

She is expected to depart Tyneside early next year, with her new home yet to be agreed and her future still unclear.

Tony Knox, managing director of Absolute Leisure, said: "People are maturing, becoming more sophisticated in their tastes.

"Also, the focus of NewcastleGateshead is to make the river more of a tourist attraction.

"We are looking at quite a mixture of styles for restaurants - but family-friendly."

It seems we will all have to grow up and sober up.

There may not quite be tears shed when the Princess departs - in recent years the boat's cheap drinks offers have attracted accusations that she is encouraging binge drinking.

In April 2005, Northumbria Police called for the Princess' drinks licence to be withdrawn, following a spate of assaults, incidents of criminal damage and breaches of the peace.

Two men died after buying into the club's "drink all you want" offer.

The club was only allowed to remain open after owners agreed to end the promotion.

Absolute Leisure also felt it necessary to apologise, in October 2003, after running a competition offering prizes to drinkers who guessed the names of footballers allegedly linked to the rape of a 17-year-old girl.

However, countless North-East couples have found romance on board, since its ferry service between Scotland and Northern Ireland was ended.

During an 18-month refurbishment, the Princess' interior was gutted and 12 bars and two discos installed, with capacity for 3,000 people. Celebrity visitors have included Mick Hucknell, of Simply Red, The Chippendales, Rick Astley, Frankie Goes to Hollywood, the Crown Prince of Denmark, Frank Bruno, Daley Thompson, Peter Bowles, Freddie Starr and Steve Davis.

Mark Railton, 26, said: "I think it will be a shame to see it go. The boat is an institution."

Ellie Lloyd, 21, said: "I stopped going because it was getting full of drunken idiots.

"I'm not bothered about it closing."