The cost of a new indoor arena in Cardiff has increased by £100m. As well as being hit by spiralling construction inflation costs, the projected completion date of the 17,000 spectator capacity venue has also been pushed back a year.
Back in 2020, following a competitive tendering exercise, US entertainment venue giant Live Nation - whose development partner for the project is Oak View Group - was named by Cardiff Council as its preferred developer to deliver the arena for the city with a capacity for 17,000 event goers.
The project in Cardiff Bay will form a central part of the wider redevelopment of the Atlantic Wharf area alongside new residential units, office space, hotels, shops, bars, restaurants and tourism and cultural attractions . The redevelopment of the area, with a new Metro tram link running through it from Cardiff Central Station, could see Cardiff’s Council existing headquarters building at Atlantic Wharf - County Hall - being demolished.
