Edinburgh will get a new concert hall for the first time in more than 100 years after councillors approved plans for the building.

The £45m venue, which will be named the Dunard Centre, was voted through by the city council’s development management subcommittee after a five-hour debate on Wednesday.

Located behind Dundas House at St Andrew Square, the hall will include a 1000-seat main auditorium, a 200-seat studio space for smaller performances and rehearsals, and additional spaces for education and conferences.

An open foyer will host music performances and a cafe bar.

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The centre will also become home to the Scottish Chamber Orchestra and will be used as a venue for the Edinburgh International Festival.

During the debate, planning officer Emma Fitzgerald told councillors the plans would “preserve and enhance the conservation area”.

Richard Price, from the New Town and Broughton Community Council, also spoke in support of the plans, stating it would provide a “significant and positive contribution”.

He added: “We fully support the principle of the development of a world-class performance venue in this part of the city.”

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A team representing the St James Centre opposed the application over the scale of the new hall and its impact on traffic, but the debate concluded with councillors voting six to four in favour.

Sir Ewan Brown, chairman of Impact Scotland – the trust behind the plans – said: “Today’s decision is tremendous news for the city and turns the ambition for a world-class centre for music and performance, into a reality.

“I am particularly pleased to announce today that the official name of the venue will be Dunard Centre supported by Royal Bank of Scotland, this is in recognition of the huge contribution Carol Grigor has made to this project through the charitable trust Dunard Fund.

“We now have the opportunity to create an exciting new venue for everyone, in a building to be proud of.”

Edinburgh Council leader Adam McVey said: “The creation of the Dunard Centre will provide an excellent new venue and home for the Scottish Chamber Orchestra and another exiting development on St Andrew Square.

“None of it would be possible without our ambitious city deal or the generosity of philanthropists like Carol Grigor.

“Together, we’re opening up an exciting new chapter in Edinburgh’s already thriving cultural scene to help more of our residents to take part in and enjoy the arts.”