Features
AEG Europe Secures Planning Permission For Edinburgh Park Arena
AEG Europe has received approved planning permission for a new state-of-the-art 8,500-capacity arena in Edinburgh Park, Scotland, UK. The decision, reached June 12 by the city council, signifies “a further milestone in the development of Scotland’s newest live entertainment venue,” according to a press release.
Pollstar first reported on AEG Europe’s plans for the new arena in November last year.
The owners of The O2, London, and Uber Arena Berlin are working with award-winning developers and site owners Parabola on the new building, which will span 18,500 square meters of Edinburgh Park to the West of the Scottish capital.
As part of the planning phase, AEG Europe’s guest experience and sustainability experts convinced city council, that the venue’s design and future construction reflect “unprecedented fan-first and sustainability measures, with further ambitions of ensuring Edinburgh Park will be the UK’s most sustainable arena,” the press release states.
Edinburgh Park Arena will be privately funded, and AEG Europe are finalizing funding partners to bring their vision to life. Once an external contractor has been appointed and finances 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 Europe’s latest venue investment is expected to bring an estimated £520 million ($665 million) per annum in gross value to the Edinburgh economy. It is also estimated that the arena would inject a further £83 million ($106 million) per annum back into the local economy, through the 700,000-plus visitors the arena is expected to attract each year, “based on external assessment,” according to the press release. It will also create more than 1,000 operational jobs in and around the arena.
Alex Hill, president and CEO of AEG Europe, commented, “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.”