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The third largest arena in the UK is set to open in Bristol, the YTL Arena

The arena will open at Bristol’s Filton Airfield

The third largest arena in the UK is set to open in Bristol, the YTL Arena.

Following the announcement of plans to build an arena at the city's Filton Airfield, Bristol City Council’s planning committee made the decision to go ahead with the new venue, which will be headed by Malaysian investment firm YTL. The venue looks set to open in 2023, with the infrastructure costing around £5 million, and to generate £1.5 billion locally in 25 years.

The capacity for the YTL Arena will be 17,000, just 3,000 less than London's O2 Arena, making it the third largest venue in the UK. The arena will be situated in a central hangar, with the entire complex open year-round for exhibitions, smaller events, and also as a shopping outlet.

Read the full news story on ITV here.

Last year, lawmakers in Liverpool voted to protect the city's music venues. The council in the city adopted a new policy - the "Agent of Change" principle - that will protect established clubs and concert halls in the instance where occupants of new residential developments complain about noise levels.