£200 million arena and conference and exhibition centre boost for the North East
A new multi million pound, state of the art entertainment arena, and conference and exhibition centre is set for the North East.
A new multi million pound, state of the art entertainment arena, and conference and exhibition centre is set for the North East as plans by Gateshead Council push forward.
Gateshead Council in partnership, with award winning property developers Ask Real Estate and leading investment and development manager PATRIZIA UK, are working with SMG Europe, a world leader in venue management to bring a 12,500 seat arena, and conference and exhibition facilities to Gateshead Quays which would relocate the existing Metro Radio Arena.
The 10-acre site which sits directly opposite the Gateshead Millennium Bridge and between the area's most iconic buildings, Sage Gateshead and BALTIC Centre for Contemporary Art is planned to include an entertainment arena, conference and exhibition centre, hotel, bars and restaurants, creating a vibrant new destination on the waterfront with easy access to the Quays, Gateshead Town Centre and the wider region.
Gateshead Council Leader, Martin Gannon said: "We've wanted to regenerate and revitalise this key site on Gateshead Quays for a long time and internationally recognisable facilities of this scale has always been our long term aspiration.
"Not only will they bring new life to the area but they will bring new jobs and significantly boost the local and regional economy. An arena and conference and exhibition facility will also play an important role in complementing and strengthening demand for national and international conferences, exhibitions and events at Sage Gateshead and BALTIC, as well as acting as a catalyst for wider investment across Gateshead and further stimulating economic growth.
"We're now more confident than ever that we can finally push forward with our exciting plans for this £200 million development site. Working closely with our development partners, SMG Europe, local partners and the private sector, it really is time to give the North East another landmark destination and complete the picture of this truly unique, riverside site."
The new facilities on Gateshead Quays which will be capable of holding major music and cultural events, as well as conferences and exhibitions, is anticipated to support over 1,140 jobs with well over half being newly created. Attracting an extra 296,000 visitors to the region it's estimated to boost the regional economy by over £29.5 million annually in future years.
SMG Europe, which currently operates the Metro Radio Arena, is a wholly owned subsidiary of SMG which is an industry leader with in excess of 220 venues world- wide. It is anticipated the new, state of the art 12,500 seat arena, and conference and exhibition space could transform the region's business tourist economy. It's widely acknowledged that there is a massive untapped demand to bring large scale events, conferences and exhibitions to the region and a combined leisure and entertainment development would help meet customer expectations.
Executive Vice President European Operations of SMG, John Sharkey said: "We've for some time been looking at increasing our presence in the North East. The Gateshead Quays development site is truly a unique location which will offer visitors a whole new experience. Our new entertainment, conferencing and exhibition facilities, standing shoulder to shoulder with Sage Gateshead and BALTIC, will we firmly believe, further cement Gateshead Quays as a popular and stunning world class cultural destination, whilst bringing significant benefits for the whole region as well as Newcastle and Gateshead."
Gateshead Council has been working with Ask Real Estate Limited and PATRIZIA UK Limited on this development site since June 2015 when they were selected as preferred developers.
Managing Director of Ask Real Estate, John Hughes said: "This is a very exciting and iconic development site, not just in the North East, but in the UK. We've done a lot of work to get to this stage but now's the time to push ahead and help make this development site a reality."
Daniel Williams, Head of Development at PATRIZIA UK, commented: "We believe that this campus style development holds the potential to unlock a great deal of value and income for the local area. We look forward to bringing our significant experience working with mixed-use developments in the UK, as well as drawing on our pan-European investment management capabilities, to what is set to become a modern icon for the North East."
The new facilities are being developed closely by Gateshead Council alongside key strategic partners to ensure they meet the needs of the region.
NewcastleGateshead's conference and events industry is a major contributor to the local visitor economy, which is currently worth £1.9bn. NewcastleGateshead Convention Bureau, based at NewcastleGateshead Initiative, markets the area to national and international conference and event organisers, attracting a high proportion of high-spending business visitors.
Sarah Stewart, chief executive at destination marketing and management organisation, NewcastleGateshead Initiative said: "While we consistently 'punch above our weight' as a conference destination, plans to develop a dedicated conference and events space on Gateshead Quays is fantastic news and will significantly enhance our ability to attract larger, conferences exhibitions and events to NewcastleGateshead from across the world.
"We have long- championed the need for a purpose built conference and exhibition centre and this exciting development will help to fulfil our collective ambitions and drive further growth for the local economy."
Abigail Pogson, Managing Director at Sage Gateshead, said: "These new facilities will be a tremendous boost to Sage Gateshead, building on our international reputation and success in music and hosting major conferences. It will be a fantastic addition to the Quayside and the region and will help further transform the south bank of the Tyne."
Andrew Hodgson, Chair of the North East Local Enterprise Partnership: "These new and exciting facilities would help the North East attract many more major exhibitions, conferences and cultural events helping to boost the regional visitor economy and create hundreds of new jobs all of which supports the growth ambitions set out in the North East Strategic Economic Plan and the vision of Gateshead Council to establish Gateshead Quays as a first class destination."
Jane Tarr, Director, Arts Council England said: "We are delighted Gateshead Council has today announced their exciting vision to develop the Quays site. We look forward to working with Gateshead Council, Sage Gateshead and other local partners to ensure the development strengthens and increases the cultural offer to the residents of Gateshead and visitors to the region."
Next steps for the development site are for a detailed scheme design to be drawn up ahead of pre planning and pre construction phases.