The company that owns the Metrocentre has bought the adjoining Federation Brewery site for £2.8m.
Newcastle Brown Ale was brewed there between 2005 and 2010 after production was moved from the Tyne brewery at Gallowgate in Newcastle.
The 17 acres of real estate includes conference venue the Lancastrian Suite and was originally put up for sale with a £6m price tag in 2011.
Martin Breeden, Asset Management Director at Capital Shopping Centres, said: “We believe that the former brewery provides a really exciting opportunity to enhance the overall setting and attraction of Metrocentre.
"It’s too early to provide any detail at this time about potential plans for the site, but we will hopefully be in a position for further discussion shortly.
"CSC will be discussing existing and future lease arrangements with each tenant individually."
Gateshead Council head of development and public protection, Anneliese Hutchinson, said: “Whilst it is early days, Capital Shopping Centres are a major driver of regeneration in Gateshead and we look forward to working with them as they develop their plans for this site.
"We are in the process of a major review of land use in Gateshead. We hope to maximise the regeneration of brown-field land as much as possible, particularly when it comes to accommodating the growing demand for homes.”
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