The 18,500 sqm arena will further enhance and support the development of Parabola’s new urban quarter, comprising a significant step forward in the diversification of Edinburgh Park in line with the long held aspirations of the City of Edinburgh Council. The development is anticipated to deliver £520m gross value add per annum, attracting over 700,000 visitors annually with an associated local spend of £83.1m.

Savills has also been advising Parabola on the residential element of Edinburgh Park. The Scottish Development team brokered a deal with S1 Homes earlier this month, one of the country’s highest commended residential developers.

Adam Richardson of Savills Planning said: “The arena proposals will supercharge efforts to deliver the Parabola masterplan, reinvigorating the wider strategic business function of Edinburgh Park whilst fulfilling the widely acknowledged desire for a major new purpose built indoor venue in the capital, attracting a host of new prime live music and entertainment opportunities currently lost to the city.

“The proposals boast high environmental and sustainability credentials both in their public transport accessibility and through passive design and low energy measures, alongside the use of onsite low and zero carbon generating technologies. The contemporary aesthetic inspired by the Salisbury Crags at Arthur’s Seat further contributes to what will be a first-class facility.”

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

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.”

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.

“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.”