The completion of the planned 12,500-capacity Gateshead Quayside arena has been pushed back after the project was denied a £20m boost in last week’s Budget.
Gateshead Council chiefs have expressed their disappointment over Chancellor Rishi Sunak’s decision not to agree to their request of assistance in the development of the arena through the Government’s Levelling Up Fund. Chronicle Live reports that the request related to increased construction costs for the project, which is being led by developer Ask Patrizia in the town close to Newcastle.
Council leader Martin Gannon said that the £260m development was still financially viable without the extra cash, though its opening date is understood to have been pushed back from late 2023 to early 2024, according to Chronicle Live.
Cllr Gannon reportedly told a North East Combined Authority meeting on Tuesday that last week’s Budget had been “incredibly disappointing” and that the decision not to support the arena project was “short-sighted”.
He added: “The Quayside development in Gateshead, which is a regional facility and will have a transformational impact on the region, will go ahead and it is a viable scheme. But we did seek support from the Government of £20m and that was turned down.
“To fail to see the transformational impact of something as comprehensive as that is short-sighted by the Government.
The complex, to be built by the NewcastleGateshead waterfront at Gateshead Quays, will feature a 29,000 sqm arena venue for entertainment and sports alongside international conferences, meetings and exhibitions as well as festivals and cultural events. Boxing, darts and basketball are among the sports set to be staged at the arena, which will be managed by ASM Global.
The scheme, which is 54,500 sqm in total, is designed by HOK Architects and built by Sir Robert McAlpine.
As well as the venue, the project will include a purpose-built conference and exhibition centre, restaurants, a dual branded hotel and large areas of outdoor realm and performance space. It is anticipated that it will attract more than 338,000 additional visitors to the region each year.
The project was approved by Gateshead Council and the Secretary of State for Housing, Communities and Local Government last December.
Image: HOK International
