Edinburgh has been given the green light for a brand new 8,500-capacity arena, with AEG acquiring planning approval yesterday (June 12). The new location is anticipated to bring in 700,000 guests every year and is projected to open in Edinburgh Park by 2027, with work beginning in 2025. The project is projected to cost £80 million.
AEG, the company that is behind the O2 Arena in London and the Mercedes-Benz Arena in Berlin, was given the go-ahead after talks with the local council. The new arena is set to be sold to a sponsor before its opening. It is anticipated to fill a gap in the market, making Edinburgh one of the largest cities without a major music venue.
Parabola, the development and site owners, are joining forces with AEG on the project, with the stadium spanning three levels across 18,500 square meters. There will be 700 jobs created for the individuals of Edinburgh.
According to the BBC, grassroots venues in the UK continue to be hampered by increasing costs and the risk of closure. A recent report by the Music Venues Trust found that 125 grassroots music sites in the UK ceased showcasing live music, with over half closing down during 2023, their most challenging year yet
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