Ask Real Estate’s joint venture with Patrizia has been given the green light for a £260m riverside arena complex at Gateshead Quays.
The nod from Gateshead Council will see Ask:Patrizia, the council’s development partner, to build a 12,500 capacity arena operated by ASM Global.
Plans also include an international conference and exhibition centre, a dual-branded hotel, restaurants, and public realm space.
Construction work is expected to start in March next year and complete in 2023.
The jv expects to add more than 1,000 jobs and £29m GVA per annum to the regional economy.
Ask Real Estate managing director John Hughes said: “We have worked closely with the council and the wider stakeholders to ensure this regeneration scheme delivers maximum benefit to the wider region and will put this iconic waterfront on the map internationally.”
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