Work on Cardiff’s new indoor arena takes its next step
Cardiff Council’s Cabinet is to discuss the progress of a 15,000 capacity indoor arena as work is set to start at the end of the year.
They’re set to look over recommendations to approve a range of legal agreements at a meeting on the 13th of July which will determine what is next for both the arena and the regeneration of the Atlantic Wharf site.
The Cabinet report recommends that the Atlantic Wharf regeneration site is split into two specific areas, with one area being put out to tender to deliver a specific development and the other to undergo further market testing to attract investment interest the project. T
These areas are Site A: The County Hall site which includes the hall and areas of the car park which are not taken up by the Arena’s footprint. The proposal is to put this land out to tender in order to deliver a specific development, which could include a new production and rehearsal space for the creative sector, alongside new offices, all with a shared foyer.
Site B is The Atlantic Wharf site, which includes the Red Dragon Centre, the car park and Hemmingway Road, is proposed to undergo further market testing, to attract further investment interest from the private sector.
The results of both the tender exercise and the market testing exercise will be reported back to Cardiff Council’s Cabinet at a later date, for a decision to proceed.
Cllr Russell Goodway, Cabinet Member for Investment and Development said: “The Council is committed to transforming this historic part of Cardiff into a leading UK destination for leisure, culture and tourism, creating jobs and opportunities for local people.
The Indoor Arena will significantly increase footfall in Cardiff Bay, which will benefit all existing hospitality venues as well as the new developments that will be built as part of this regeneration scheme.
He added: “There is no doubt that since the pandemic has ended, the financial climate has changed and become more challenging with an increase in cost of building materials and increasing interest rates.
Given this, the project has had to adapt to ensure that it can be delivered and is affordable, so legal agreements now have to be approved so the project can proceed at pace, with work expected to start on site at the end of this year.”
Among the issues the cabinet is to approve is finalising the Development Fund Agreement (DFA) between the Council and Live Nation and agree the extension of the Pre-Contract Service Agreement (PCSA) between the Council and Live Nation.
They must also seek approval to produce a final business case for the Capella Production Studio, in partnership with the Welsh Millennium Centre and agree for the tender process to proceed for Site A and for the market testing exercise for Site B.
The proposals will be scrutinised by the Council’s Economy & Culture Scrutiny Committee on the 11th of July.
