Wellington Mayor Justin Lester says that the site for a new indoor concert arena in Wellington has been narrowed down with the most likely spot being at Kings Wharf on the waterfront.
Five potential sites were put forward to the Greater Wellington Regional Strategy Committee meeting on Tuesday but "The Kings Wharf option has been identified as clearly the best location", says Mr Lester.
The new 12,000 seat arena is crucial if the capital wants to attract large scale national and international acts, he says.
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"Bigger acts could make New Zealand a destination by performing at bigger venues in Auckland, Wellington and Christchurch, rather than tacking us on at the end of an Australian tour," Mr Lester says.
He hopes that the new arena could be a "catalyst for a raft of new development in the area, with a mixture of commercial, retail and residential both private and affordable."
The next step will be to work with partners on the land and look at the precincts development options.
It's estimated that the larger events a new arena could attract could be worth approximately $26 million in GDP.