Newcastle Academy On The Block

Newcastle’s O2 Academy is up for auction with a guide price of £625,000 after being put on the market by the cash-strapped city council, according to the Newcastle Journal.

The venue’s operator – Academy Music Group – isn’t expected to change, but the freehold is expected to go under the hammer in London July 12.

“We have a great working relationship with our current landlords, Newcastle City Council, and we have several years left on our existing tenancy so it is business as usual,” AMG chief Paul Latham told Pollstar.

The building on Westgate Road dates back to 1927 when it started life as a cinema before becoming a ballroom and later a bingo hall. Following a major refit it reopened as a gig and club venue with two halls, the main auditorium hosting around 2,000 people and a smaller one hosting 400. Acts to have played Newcastle O2 Academy include The Prodigy, Paloma Faith, and Rita Ora.

The London auction will also include the freeholds of nine other council properties, including the former council offices and various industrial units.