Featured Image: AEG Europe
AEG Europe has received approved planning permission for the planned 8,500-capacity Edinburgh Park Arena.
The City Council made the decision after the application was said to have been met with a wide range of support.
AEG Europe, which owns London’s O2 Arena and Uber Arena in Berlin, is working with developer Parabola on the venue, which will span 18,500 square meters of regeneration project area in Edinburgh Park.
“We are delighted to have been granted planning consent for a cutting-edge new venue for Edinburgh,” said AEG Europe president Alex Hill.
“Having worked closely with the 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.”
The venue investment is expected to bring an estimated £520m ($665m/€615m) of gross value per year to Edinburgh’s economy.
A further £83m per year is predicted to go back into the local economy due to a forecast of more than 700,000 yearly visitors and the creation of more than 1,000 jobs.
“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,” said AEG Europe’s executive vice-president of real estate and development Alistair Wood.
“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.”
Edinburgh Park Arena is due to be privately funded, with AEG Europe said to be finalising funding partners for the live music venue.
Following the appointment of an external contractor and secured funding, construction is scheduled to begin in 2025 and will continue over two years with the aim of delivering the first event in 2027.
It is claimed that the venue will have “unrivalled” public transport and motorway access, including two tram stops within a short walk, two mainline stations, plentiful bus connections and excellent motorway links.
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