THE design and build of a new 8,500-capacity live entertainment venue in Edinburgh is set to feature ‘unprecedented’ fan-first and sustainability measures, developers have revealed.
AEG Europe, owner of London’s O2 Arena and the Uber Arena in Berlin, is behind the recently approved plans for Edinburgh Park Arena, with the developer working alongside site owners Parabola on the new ‘state-of-the-art’ arena – which will span 18,500 square meters.
Explaining how guest experience and sustainability experts have been ‘integral’ during the planning phase, AEG Europe said that it has ambitions of Edinburgh Park Arena becoming the UK’s most sustainable arena.
The arena will be privately funded, with AEG Europe saying that it is finalising funding partners to bring the vision to life. Once a contractor is appointed, the developer proposes construction work begins in 2025 and will continue over the course of two years – with the aim of delivering the first event in 2027.
AEG Europe added that the investment is expected to bring an estimated £520 million per annum in gross value to the Edinburgh economy. Furthermore, it estimates that the arena would inject a further £83 million per annum back into the local economy – with 700,000+ visitors to the arena each year anticipated.
Alex Hill, president and CEO of AEG Europe, said, “We are delighted to have been granted planning consent for a cutting-edge new venue for Edinburgh. Having worked closely with City of Edinburgh Council, we strongly believe the arena will deliver huge benefits to the city throughout every stage of the building’s life cycle – from development to completion, for years to come when we’re bringing the world’s best artists to the Scottish stage.”
Alistair Wood, executive VP, real estate and development at AEG Europe, added, “We thank the City of Edinburgh Council for their forward-thinking and proactive approach and for their shared vision of a new best-in-class arena for Edinburgh. We now turn our attention to expanding on these plans through the appointment of an external contractor, as well as seeking naming rights partners and finalising funding partners.”
