AEG Europe has been given the go-ahead by planning authorities to build a new state-of-the-art 8,500-capacity arena in Edinburgh Park, Scotland.
The National said it is hoped that work on a long-awaited arena for the city will begin in the first half of 2025, with the aim for the venue to be up and running by 2027.
The decision, reached by the City of Edinburgh Council, signifies a further milestone in the development of Scotland’s newest live entertainment venue.
The Council announced the decision after the application was put forward with a recommendation for approval following an extensive initial planning consultation period, during which the submission was met with a wide range of support.
The owners of London’s iconic The O2 Arena and Uber Arena in Berlin are working with award-winning developers and site owners Parabola, on the new arena, which will span 18,500 square metres of regeneration project area of Edinburgh Park to the West of the Scottish capital.
The new Edinburgh Park site sits just North of a stop on the tramline and is adjacent to Parabola’s “cultural quarter” development which so far contains a multi-storey car park and the 1 New Park Square complex.
AEG Europe’s latest venue investment is expected to bring an estimated £520 million per annum in gross value to the Edinburgh economy. It is also estimated that the arena would inject a further £83 million per annum back into the local economy, through the 700,000+ visitors the arena is expected to attract each year, based on external assessment.
It will also create 1000+ operational jobs in and around the Arena.
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 Vice President, Real Estate and Development, 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 finalizing funding partners.”
As part of the planning phase, AEG Europe Guest Experience and Sustainability experts have been integral in ensuring the venue design and future construction reflects unprecedented fan-first and sustainability measures, with further ambitions of ensuring Edinburgh Park will be the UK’s most sustainable arena.
Edinburgh Park Arena will be privately funded and AEG Europe are finalising funding partners to bring their vision for a new home for life music in Edinburgh to life.
Once an external contractor has been appointed and financed raised, construction is proposed to begin in 2025 and will continue over the course of two years, with the aim of delivering the first event in 2027.
AEG owns, operates and is affiliated to 325+ of the world’s most prestigious venues. Edinburgh Park Arena will join AEG’s European portfolio which includes iconic venues like The O2, the historic Hammersmith Apollo, new venues Olympia London, alongside Uber Arena and Barclays Arena in Germany, among many others.
A council report on the arena said, “The proposed arena building will be positioned slightly northwards on the site and will occupy almost all of the site.
“A plaza is proposed at the front of the building on the site’s southern end. The proposed design of the arena is a ‘bowl’ auditorium, including retractable seating around the event floor.
“The lower levels will have functional spaces, such as crew and storage areas. The main upper plaza level will give access to the main concourse. The lower level of the plaza will give access to the event floor.
“An access from Lochside Court is also proposed, which will give access for ‘premium’ spectators to a lounge and terrace areas.”
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