The South West Regional Development Agency (SWRDA) has selected the Bristol Waterside Arena (BWA) consortium as its preferred partner to build and operate the £150m Bristol Arena.

BWA comprises four major companies led by Orion Land and Leisure and arena operator SMG (Europe) together with developer Bellway and construction company Sir Robert McAlpine.

BWA will work with the SWRDA and Bristol City Council to develop the 10,000-seat, multi-purpose indoor arena. The remainder of the site will be used for a mixed-use residential and entertainment development.

To date, the SWRDA and Bristol City Council have jointly invested £13m on the Arena project. The site – a former diesel depot – has now been cleared and the Arena is scheduled to open in 2009.

The nine-acre Arena site will become an integral part of Temple Quarter – the ongoing £750m regeneration of a 115-acre (46 hectare) area in central Bristol surrounding the Temple Meads railway station.