Edinburgh, UK, June 12, 2024 (GLOBE NEWSWIRE) -- AEG Europe, a global leader in live sport and entertainment, has received approved planning permission for a new state-of-the-art 8,500-capacity arena, in Edinburgh Park. The decision, reached today 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 at midday today 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.
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 finalising 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.
ENDS
Media enquires can be directed to communications.team@aegeurope.com.
Notes to Editors:
Through an external audit, conducted by Savills, AEG Europe can estimate that the prospective Edinburgh Park Arena will bring the following:
- £520 million p/a indicative Gross Value Add including GVA from additional visitor spending outside of the arena.
- 700,000+ annual arena visitors with a related estimated annual visitor spend in the Edinburgh region of £83+ million.
- Local employment of circa 1000+ jobs
- About Edinburgh Park Arena
- 8,500 capacity venue
- 18,500 sq metres floor space
- 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.
About AEG Europe:
AEG Europe creates communities, places and spaces that deliver memorable moments through live entertainment and sports, giving the world reason to cheer.
AEG Europe is a subsidiary of AEG, the world’s leading sports and live entertainment company. AEG Europe’s extensive portfolio of live entertainment and sports assets across the region includes: an array of best-in-class venues, such as The O2 and Eventim Apollo in London; Barclays Arena in Hamburg; Uber Arena, Uber Platz and Uber Eats Music Hall in Berlin; and Accor Arena in Paris; as well as renowned music festivals, including American Express presents BST Hyde Park in London and Rock en Seine in Paris. Our venues host some of the world’s best sports events and are home to prestigious sports franchises, including AEG’s own Berlin Eisbären ice hockey team at the Uber Arena.
Colleagues across Europe work together to create world-class live entertainment and sports experiences. AEG’s venue teams develop and operate best-in-class arenas and districts; AEG Presents promotes and manages concerts and tours, oversees renowned venues and produces some of the world’s leading music festivals; AXS Ticketing connects fans to events through specialist technology solutions; and AEG Global Partnerships links corporate brands into the company’s world-leading network of assets.
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