The City of Edinburgh Council have approved planning permission for a “world-class” 8,500-capacity arena.
AEG Europe has been given approval by the council’s committee to proceed with building the arena in Edinburgh Park, which is expected to contribute £520m per year to the city’s economy.
The decision was announced on Wednesday after an “extensive planning consultation period” with the company behind Taylor Swift’s sold out trio of shows at Murrayfield last week.
The 18,500 square metre site, which is expected to attract more than 700,000 visitors a year, could also bring more than 1,350 “employment opportunities.”
The company’s president and CEO Alex Hill 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.”
AEG Europe also owns the O2 Arena in London and submitted the application to the council in February.
Construction on the arena is proposed to begin next year and will continue over the course of two years, with the aim of the first event being delivered in 2027.
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.”
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