So with bigger events its a gamble.. let me explain.
you can put on an event anywhere regardless of location .. ie a larger one off and thats fine.. but if you want something to become a hub so other events can be closer .you have to prove that the event is sustainable
Realistically Southampton is a logical choice but we have only just got a wessex meetup going so for a larger recurring event you need to establish itslef more and thats where being equidistant between London and Bristol hurts you..