Any "gig space" will live or die by its bookings. People will travel if they want to see the artists on show.
NEH will need to market and price itself to attract decent bands and shows to grow as a new venue within Glasgow.
It's not rocket science, it's the exactly the same issue any venue in the city has with regards to attracting custom.
I can see why the OP is positive to the opening of such a venue in close proximity to his establishment as it may result in a wider regeneration of the area and make it possible for him to open on other days/nights where it wasn't profitable to do so before.