Bidding is now open with the aim of completely renovating the 11-hectare venue with a new indoor space for live performances and events with capacity for 20,000 people.
“Ultimately, this could be a fantastic advantage for Sydney,” said New South Wales Premier Chris Minns.
“We desperately need a new indoor stadium.
“There are literally hundreds of artists around the world who want to come and tour Australia and Sydney in particular.”
The state opposition also agrees with the idea.
“This is a site that is significantly underused and we want to see it reach its full potential,” said opposition leader Mark Speakman.
The site’s current tenants, Carsingha Investments, had a billion-dollar proposal to redevelop the site with a new indoor entertainment centre, more bars and restaurants, but it was rejected due to concerns from local residents and the council.
They will re-tender, promising to work closely with residents and comply with state planning laws.
“It has its moments and we have our markets and things like that during the week and they’re always popular, but that’s two days a week,” Entertainment Quarter president Tony Shepherd said.
“We want to turn this into a world-class entertainment center for the benefit of Sydneysiders, the people of New South Wales, right across the country.”
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