The new venue, which will be the third-largest in Scotland, will be located on the site of the former Mecca Bingo and the historic Greens Playhouse in the Nethergate.

The first stage of the redevelopment will see the creation of a music venue and events space, with further works expected in 2025 to expand the multi-purpose campus.

Owner Michael Carolan, who led the development of the nearby Malmaison Hotel, believes LiveHouse can re-establish the legacy of the landmark as a cultural hub in the city.

“We want to keep the transformational momentum going and really build on the good work that has been done,“ he said. “Dundee is in the enviable position of having 80% of Scotland’s population within 90 minutes’ travelling time.

“It has been demonstrated elsewhere, in Glasgow for example, that a multi-use events space can transform the surrounding area.

“LiveHouse can bring back increased numbers of people to the city centre, ensuring it is beneficial not only for the venue, but surrounding businesses.

“These are exciting times, and we look forward to opening our doors for the first time in December.” 

The original Greens Playhouse, designed by architect John Fairweather, was an art deco masterpiece that opened its doors in 1936.

Known for its towering 85-foot steel and glass structure, gold plaster decorations, and seating for over 4,100 people, Greens was one of Dundee’s grandest cinemas.

The internal and external overhaul, as well as expansion plans, are being led by Nicoll Russell Studios.

Professor Ric Russell said: “This is a really exciting and ambitious project which will significantly help re-energise the heart of the city.

“This latest reincarnation of the building will unfold in several development phases, increasing its capacity to host a diverse range of events, from vibrant musical performances to conferences, exhibitions and more.

“We look forward to adding our considerable experience of designing within the fields of theatre and licenced leisure to assist in bringing this vision to life.”

When complete, only the OVO Hydro in Glasgow and the P&J Arena in Aberdeen will have greater capacity.

Venue operator Angus Robb said: “I have been promoting shows in Dundee for over thirty years and see a gap in the market for a venue of this size.

“The space is very flexible and can be adapted on an event-by-event basis, it has the potential to attract large exhibitions and conferences as well as international touring bands, theatre productions, awards dinners and sporting events.

“The venue will also be used for Esports with talks already in place with an international games developer.”