This is the giant Whey Aye wheel which could spark £100million investment on banks of Tyne

An artist's impression issued of a huge observation wheel, dubbed the Whey Aye, which developers want to build on the banks of the Tyne. Pic: World Wheel Company/PA Wire.
An artist's impression issued of a huge observation wheel, dubbed the Whey Aye, which developers want to build on the banks of the Tyne. Pic: World Wheel Company/PA Wire.

New images have been released of a huge observation wheel which developers want to build on the banks of the Tyne.

Dubbed the Whey Aye, the structure would become Europe's tallest observation wheel at nearly 460ft (140m) - which is 16ft (5m) higher than the London Eye.

An artist's impression issued of a huge observation wheel, dubbed the Whey Aye, which developers want to build on the banks of the Tyne. Pic: World Wheel Company/PA Wire.

An artist's impression issued of a huge observation wheel, dubbed the Whey Aye, which developers want to build on the banks of the Tyne. Pic: World Wheel Company/PA Wire.

Those behind the the project, which was first announced earlier this year, say it will see around £100million invested in Newcastle and up to 550 jobs created.

New computer-generated images show elevations of the Whey Aye and the rest of the Giants On The Quayside development.

They include The Geordie Giant, a 39ft (12m) tall steel structure, and a new destination food and beverage experience for Newcastle called The Giant's Quay.

It is proposed the development will feature a family entertainment centre with trampolines, climbing walls, a skywalk and separate cafe.

An artist's impression issued of a huge observation wheel, dubbed the Whey Aye, which developers want to build on the banks of the Tyne. Pic: World Wheel Company/PA Wire.

An artist's impression issued of a huge observation wheel, dubbed the Whey Aye, which developers want to build on the banks of the Tyne. Pic: World Wheel Company/PA Wire.

The Giant Sport Deck will comprise a multi-purpose play and sports complex, with covered five-a-side pitches and tennis courts available for public hire and a virtual golf club called The Quayside Golf Club.

A detailed planning application is due to be submitted to Newcastle City Council later this year.

Phil Lynagh, chief executive officer of World Wheel Company's Newcastle operation, said: "It gives us great pleasure to reveal these images and further details of the development, to give people a deeper understanding of our vision for the Whey Aye and the Giants On The Quayside development.

"We have had an overwhelmingly positive response to our plans so far and hope this latest announcement will whet people's appetites even further.

"We are proposing a £100million regeneration and inward investment project that will create local jobs and ongoing revenue for the regional economy."

"Why aye" - or Whey Eye - is a Geordie phrase of meaning "Yes, of course".