AEG Europe Submits Planning Application for Edinburgh Park Arena

AEG Europe, a world leader in live sports and entertainment, submits plans for 8,500-capacity arena, injecting £520M pa to local economy and bringing 1300+ jobs to community; Announces search for naming rights partner and local contractor.

Edinburgh, UK, 20 February 2024: AEG Europe, the industry-leading promoter and owners of iconic venue The O2, has today submitted a planning application to City of Edinburgh Council for an 8,500-capacity arena, marking a significant step towards bringing the greatly-anticipated arena to life in the heart of Edinburgh.

The 8,500-capacity venue, spanning 18,500 square metres, will be situated in the Edinburgh Park area, revitalising scrubland and supporting the regeneration of the Edinburgh Park area alongside master developers Parabola. Based on external assessment, the project is estimated to bring an estimated £520 million per annum in gross value added to the Edinburgh economy.

It is estimated the building will employ a collective total of 1350 people per annum once up and running. Furthermore, the investment is expected to inject a further £83.1 million per annum back into the local economy through the 700,000+ visitors the arena is expected to attract each year.

Alex Hill, President and CEO of AEG Europe said: “We are thrilled to be progressing with our plans for a spectacular new arena for Edinburgh. The city has long been renowned as a destination for global culture and one of the world’s best for the arts and live entertainment. We’re excited to build on this reputation and bring world-class live music and entertainment to Edinburgh, as well as investing in the wider Edinburgh Park community through the creation of 1000+ employment opportunities.”

The application follows a series of in-person public consultation events, which took place on 4 December 2023 and 9 January 2024, where members of the project team and AEG Europe were on-site to hear firsthand from residents and update on intended plans.

Alistair Wood, Executive Vice President  of Real Estate & Development for AEG Europe, said: “We’re delighted by the feedback and valuable insights we’ve received during the extensive consultation and public exhibition process. It’s been fantastic to see such strong support for our plans, and therefore we are hopeful for a swift and clear decision following our planning application.”

Wood continues: “If we were able to secure planning permission, our focus would then immediately turn to  identifying a Building Contractor and Naming Rights partner to bring this exciting project to life on site.”

The company is hoping to receive planning permission by June 2024, with a view of appointing an external contractor to commence work thereafter.

ENDS

Media enquires can be directed to communications.team@aegeurope.com.

Notes to Editors:

Through an external audit, conducted by Savills, AEG Europe can estimate that the prospective Edinburgh Park Arena will bring the following:

• £520 million p/a indicative Gross Value Add including GVA from additional visitor spending outside of the arena.
• 700,000+ annual arena visitors with a related estimated annual visitor spend in the Edinburgh region of £83+ million.
• Local employment of circa 1300+ jobs
• Arena will generate 45 net construction jobs per annum (103 gross) during the build phase.
• 148 per annum net on site per annum during the operational phase (245 gross)
• 691 per annum net off site for the Edinburgh area outside of the Arena during the operational phase (1105 gross)
• About Edinburgh Park Arena
  • 8,500 capacity venue
  • 18,500 sq metres floor space
• About Naming Rights
  • Through own research conducted by AEG Europe’s Global Partnerships team, the power of naming rights partnerships for brands is vast offering average increases of  30% in brand awareness and 20% uplift in brand consideration amongst arena visitors and/or festival attendees after just the first year of a multi-year deal.