Work has nearly finished on clearing the site for a 10,000 seat arena, which forms part of Bristol’s continuing £750m Temple Quarter regeneration scheme.

The multi-purpose indoor seated venue is expected to have an estimated total project cost of £100m. It is scheduled to open in 2008 and is one of four main phases of the major regeneration scheme, which began with the Temple Quay office space regeneration and development.

The arena is intended to form part of a major new entertainment destination for people of Bristol and the south west.

The South West of England Regional Development Agency has been working in partnership with Bristol city council, the local community and businesses on the arena development, while demolition work at the site – which was the Temple Meads diesel depot – is now near completion.

The site for the Arena was acquired by the South West RDA in March 2003. The RDA will be investing over £9m in the Arena while £4m will be contributed by Bristol city council.

In addition to the arena, the scheme will also include the ancillary development of a leisure and entertainment complex, bars, restaurants, hotels and residential space within the area.

The site is currently at the official tendering stage with developers and operators being sought to bid for the Arena site. There is a deadline for expressions of interest of 12 December.