London is set to receive a “groundbreaking” new music and events venue, with Magazine scheduled to open in the summer of 2019 in the Greenwich area of the English capital.

Magazine will be located on the Greenwich peninsular, close to the O2 Arena, and will centre on a 3,000-capacity venue for concerts, parties, exhibitions, conferences and other events.

The site will also introduce Showground, a 7,000-capacity facility designed for outdoor festivals and events.

Construction will begin in December, with the project being operated by Vibration Group. Knight Dragon, the international property and investment company, is also involved in the venture, which has been designed by the architect studio Nissen Richards.

“Working with Knight Dragon is an incredible opportunity,” said Vibration Group chief executive Simon Tracey, according to the IQ-Mag website. “They are an extremely dynamic company with a proven international track record and developments in four continents.

“London is still very much at the forefront of live events globally, and Magazine, with its incredible flexibility both indoor and out, is groundbreaking.”

Richard Margree, CEO of Knight Dragon, which has invested a “multi-million pound” sum into the project, added: “Magazine London fits superbly with what we’re doing on Greenwich Peninsula: creating a new London underpinned by creativity, a community with culture and entertainment at its heart.

“As well as the hugely successful O2, and the Design District opening in 2020, Magazine London adds another dimension, and another destination, to the emerging peninsula.”

Image: Magazine London