Gateshead Council has teamed up with Ask Real Estate, investment manager Patrizia UK, and SMG Europe to bring a 12,500-seat arena and 10,000 m2 of conference and exhibition facilities to Gateshead Quays.
The plan is to build it 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 replace SMG’s 11,000 capacity Metro Radio Arena, built in 1995.
Gateshead Council leader Martin Gannon said: “We’ve wanted to regenerate and revitalise this key site on Gateshead Quays for a long time and internationally recognisable facilities of this scale has always been our long term aspiration.
“Not only will they bring new life to the area but they will bring new jobs and significantly boost the local and regional economy. 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.”
Gateshead Council has been working with Ask Real Estate and Patrizia UK on this development site since June 2015 when they were selected as preferred developers.
Next steps are for a detailed scheme design to be drawn up ahead of pre planning and pre construction phases.