Also, will this become the base for more events, and will this lead to a move out of the town?
There are two issues, the number of scheduled events and attendance at those events.
The Bulverton experienced many very poorly attended daytime events - ten or twenty people in a freezing marquee with space for 800. It is to be hoped the new venue can be better utilised.
There are about 75 events each day. If the new venue drew 150 people over and above the numbers who attended Bulverton, and if it did this three times each day, that is 450 event-attendances down in town or an average of six per event - assuming all the people would have gone to an in-town event rather than stayed in their tents!
In practice, much will depend on the scheduling of 'attractive' events at the new venue - if they are at the times of 'attractive' major events in town there may be no noticeable effect.