Image: Rio Architects
Cardiff Council has begun the search for a developer to build a £150m, 15,000-seater music and entertainment arena.
The council, which will contribute financing towards the scheme’s delivery, is looking for a company to design, build, maintain and operate the venue under a 99 to199-year lease.
The developer will be responsible for securing the initial consortium member operator to operate the arena for 40-45 years and the scheme will also involve the delivery of a hotel development, connecting road and public spaces.
The council will contribute to the scheme either through a £30m funding agreement or alternatively over a lease agreement over the term of the concession.
The preferred location for the new arena is a 30-acre site, that covers the Council’s existing headquarters building at County Hall and the nearby Red Dragon Centre at Atlantic Wharf, in Cardiff Bay.
The three highest-scoring bidders will be invited to the tender stage of the competition process.
The Council hopes to agree a deal in 2020 before construction work begins in 2021.
