The concerts giant will deliver and operate a new purpose-built venue at Arden Central, about one mile from the city's CBD.

Artist's impression of North Melbourne's Arden Music Hall. Live Nation

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MELBOURNE, Australia — Live Nation’s Australian portfolio of live music venues continues to grow with the addition of a new 5,000-capacity space in North Melbourne.

The concerts giant will deliver and operate the purpose-built venue at Arden Central, a major multi-billion-dollar, government-backed urban renewal and innovation precinct, about one mile from the city’s CBD.

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Once completed, the site is expected to host more than 100 events each year, creating “new performance opportunities for Australian artists and local talent, attract international touring acts and give fans another place to experience live music,” reads a statement from LN.

Announced Thursday, Oct.…