The 'Whey Aye' wheel will stand at 460 ft, 16 ft taller than the London Eye.
The project is expected to see up to £100m invested in the city and up to 550 jobs created.
Designed by Concept I, the Executive Architect, the new computer-generated images show elevations of The Whey Aye and the rest of the 'Giants on the Quayside' development, which encompasses a new destination food and beverage experience for Newcastle called The Giant's Quay.
In addition, the development will include a family entertainment centre filled with trampolines, climbing walls, a skywalk and separate café. The 'Giant Sport Deck' will feature a multi-purpose play and sports complex, with covered five-a-side pitches and tennis courts available for public hire, as well as a state-of-the-art virtual golf club called The Quayside Golf Club. Its clubhouse bar will offer food and beverages before golfers can play some of the world's most famous courses in private, best-in-class simulator experiences.
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Visitors will be welcomed to the location by The Geordie Giant, a 39 ft (12 m) tall, partially animated steel structure able to move its head and arms. The Geordie Giant will also act as a simplified timepiece, allowing visitors to tell the time to the nearest 15 minutes according to the position of its arms. On the hour, The Geordie Giant's arms will either be by its side or raised above its head to make a circle representing The Whey Aye using both hands.
Phase one of the development will include an 837 sq yd (700 sq m) LED digital screen on the facade of the visitor centre, at the base of The Whey Aye, which will be used to communicate information about local culture and events as well as social media content and advertising. Phase two, subject to a media licence, will see a world-record breaking 10,000 sq m LED digital screen added to the wheel.
The development will cover 344,500 sq ft in total and will only take 18 to 24 months to build. A detailed planning application relating to the observation wheel and the Giants on the Quayside development is due to be submitted to Newcastle City Council by the developer 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 £100m regeneration and inward investment project that will create local jobs and ongoing revenue for the regional economy."
World Wheel Company chief marketing officer, Nigel Hartley, added: "Our development will complement Newcastle's global reputation as a vibrant, progressive, welcoming city and help deliver one of Europe's best waterfront experiences. We look forward to presenting our full proposals to Newcastle City Council later this year."
(CM/MH)
