Gateshead Council has unveiled plans to construct a £200m entertainment arena and conference centre in Tyne and Wear, UK.
In order to realise the plan, the council has partnered with Ask Real Estate, investment manager Patrizia UK and SMG Europe.
The proposed project will include the construction of a 12,500-seat arena and 10,000 sq m of conference and exhibition facilities on a 10-acre site opposite the Gateshead Millennium Bridge, between the Baltic Centre for Contemporary Art and Sage Gateshead, as part of the wider regeneration of Gateshead Quays.
The new venue would take the place of SMG’s 11,000-seat capacity Metro Radio Arena, built in 1995.
Gateshead Council leader Martin Gannon said: “An arena and conference and exhibition facility will also play an important role in complementing and strengthening demand for national and international conferences, exhibitions and events at Sage Gateshead and Baltic, as well as acting as a catalyst for wider investment across Gateshead and further stimulating economic growth.”
“We’re now more confident than ever that we can finally push forward with our exciting plans for this £200m development site. Working closely with our development partners, SMG Europe, local partners and the private sector, it really is time to give the northeast another landmark destination and complete the picture of this truly unique, riverside site.”
The project is likely to support more than 1,100 jobs, attract almost 300,000 visitors to Tyneside each year and add £29.5m into the area’s economy.
Now, the concerned parties will move forward for a detailed scheme design to be drawn up ahead of pre planning and pre construction phases.