The Arts Council has named nearly 50 projects that could receive a chunk of the £269m it has available for capital funding.

Projects in line for funding under the capital programme completion plan one include the Foster and Partners-designed Music Centre in Gateshead, the Arnolfini Gallery in Bristol, and the project to redevelop London’s South Bank.

Each of the projects must submit detailed applications for Arts Council assessment before formal approval for funding can be given.

The council named 46 arts-related schemes around the country which, subject to final approval, will receive awards of less than £1m to more than £10m.

Arts Council chief executive Peter Hewitt said: “We recognise that many organisations will be disappointed that they are not included in this plan. However, the Arts Council simply cannot meet all the demand that there is for capital investment.

“We believe that by providing clarity about our intentions, we are being fair to all concerned. We hope to avoid any further time or money being invested by organisations on projects which will not receive funding under this completion plan.”